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Common Practices and Values
Corporate Responsibility
& Sustainability strategy
Our CR&S strategy
Over the past two years we have
significantly improved our approach to
corporate responsibility and sustainability.
Our approach has evolved to embed
the AA1000APS (2008) principles: to
be inclusive, identify our material issues,
and respond to stakeholder issues.
Our approach has changed from one
informed ‘from the inside out’ – where
we determined what issues we thought
were important to our stakeholders, to an
approach that looks ‘from the outside in’
– where we engage with our stakeholders
and review external sources to identify
our material issues.
To ensure our approach is informed by
our stakeholders and that our focus
areas are aligned with our current
material issues, our CR&S strategy is
reviewed annually. As part of this process,
in February 2010 our strategy was
revised to better align with stakeholder
engagement and feedback. Our annual
Stakeholder Engagement Forum,
which brings together all areas of the
business with key stakeholders from
various backgrounds, helps inform the
setting of our CR&S strategy. The forum
provides invaluable feedback on our
performance and on emerging key issues
and expectations for the coming year.
Our CR&S strategy was also informed by
working closely with our Group Strategy
and Group Risk teams.
As part of our improved approach in FY10 we
focused on aligning our CR&S strategy with
our sustainability policies for our Retirement
Living, Residential and Commercial Property
businesses. This has allowed our organisation
to better address our material issues at a
project level by setting clear objectives and
minimum performance standards.
Our strategy identifies five enduring CR&S
themes within which our material issues are
identified and business unit policies aligned.
Material issues identified for the coming
year are:
• Employee engagement and wellbeing,
• Health and safety of our employees
and suppliers,
• Improving customer engagement,
• Affordability of our products and
services, particularly housing,
• Engaging with our supply chain,
• Influencing emerging regulation and tools,
• Community development and
supporting local economic development,
• Energy efficiency and our response
to climate change,
• Managing our use of and reducing our
impact on natural resources, particularly
water and biodiversity.
When revising our CR&S strategy we
identified five common practices that influence
our performance and response to these
material issues:
1. Stakeholder engagement
Stakeholder engagement is essential to the
way we operate and requires consistent and
ongoing application across all areas of our
organisation.
Our goal is to identify, understand, balance
and respond to the interests of our
stakeholders.
Communication
Natural
Resources
‘One Stockland’ Culture
Climate
Change, Carbon
and Energy
Community
and Local
Economic
Development
Reducing our impact
on the environment
Emerging
Regulation
and Voluntary
Tools
Specific FY10 CR&S focus areas
Strengthening our
place within
the community
Enduring CR&S themes
Understanding and
engaging with our
stakeholders
Our
CR&S
Strategy
Supplier
Engagement
Innovation
2. Governance, reporting, metrics,
risk and value
A priority when addressing our material
issues is how we integrate and streamline
reporting to better understand the value
of our actions and inform decision-making.
Once realised, this will further integrate
sustainability into our business operations and
improve understanding of our sustainability
performance.
3. Innovation
This includes embedding innovative practices
and solutions into our projects and operations
and being innovative in the ways we work. It is
about the willingness to incubate new ways of
working across and beyond the business, and
testing new solutions on projects.
Engaging with
our people
Engaging our
investors, customers,
suppliers and partners
Stakeholder Engagement
Engagement,
Wellbeing
and Diversity
Affordability
Safety
Governance, Reporting, Metrics, Risk and Value
Customer
Engagement
Our CR&S strategy
4. Communication
We aim to increase our communication and
awareness of our sustainability position and
achievements across all our material issues
areas, with particular focus on our assets and
projects. This will improve and promote the
benefits of sustainable property both internally
and externally.
5. ‘One Stockland’ culture
The diversity and geographic spread of our
organisation means that a consistent and
co-ordinated approach to sustainability is often
difficult to achieve. By strengthening our ‘One
Stockland’ culture, we will be able address
material issues in a cohesive and integrated way.
These common practices are reflected in our
FY10 key achievements and priorities.
Stockland Corporate Responsibility & Sustainability Report June 2010
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