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Climate and our environment – progress and priorities<br />
Past<br />
Last year, we said we would:<br />
Present<br />
This past year, we have:<br />
Results<br />
Future<br />
In the coming year, our priorities are to:<br />
Energy and climate change<br />
Attain a 4.5 Star average NABERS Office<br />
Energy rating for our Office portfolio by FY14.<br />
Continue to invest in energy efficiency across<br />
assets, achieving a balance between targeting<br />
the most cost-effective initiatives and piloting<br />
emerging technology with long-term potential.<br />
Continue to advocate and participate in<br />
market-based mechanisms designed to<br />
encourage and reward energy efficiency.<br />
Achieved a NABERS Office Energy average across the portfolio of<br />
3.6 Stars – an increase of 0.2 in a year of limited capital expenditure.<br />
Commenced rating our retail centres with the new NABERS Retail<br />
Energy and Water tool.<br />
Our Commercial Property business developed more rigorous<br />
targets to help determine and guide our medium-term performance.<br />
We trialled retail sub-metering, LED lighting in office assets and<br />
entered into agreements to complete building tuning to improve<br />
energy management.<br />
Contributed to the development of the NABERS Retail tool and<br />
trained our key employees on applying the tool.<br />
Sponsored the development of the Green Star Community<br />
Development tool.<br />
On track for<br />
target<br />
Ongoing<br />
Achieved<br />
outcome<br />
> Make progressive capital expenditures across our office portfolio<br />
towards our greenhouse gas emissions and energy efficiency targets:<br />
• reducing our greenhouse gas emissions and energy use across<br />
our Commercial Property portfolio by 20 per cent from FY09 to FY14,<br />
• attaining a 4.5 star average NABERS Office Energy rating for our<br />
Office portfolio by FY14.<br />
> Continue to test the NABERS Retail tool.<br />
> Consider broader application of LED lighting. Commence building tuning<br />
on several assets.<br />
> Expand the capability of our Climate Change Action Plan tool to track<br />
the eco-efficiency performance of assets against our target FY14 target.<br />
> Continue to contribute to the discussions and development of marketbased<br />
mechanisms that encourage low carbon, sustainable property.<br />
> Provide energy efficiency training to our retail tenants.<br />
> Expand and strengthen our green lease clauses in standard leasing<br />
contracts across our Commercial Property portfolio.<br />
> Develop a Distributed Energy Strategy addressing the supply and<br />
generation of low carbon and renewable energy for our operational<br />
and development sites.<br />
> Continue to review our energy and carbon metrics in response to<br />
feedback from our business, analysts and other stakeholders, reflecting<br />
current and emerging regulatory reporting requirements and improving<br />
our capacity to better monitor and manage our assets.<br />
> Develop climate change management action plans for relevant projects<br />
in our Residential and Retirement Living businesses.<br />
Expand our work with suppliers and tenants<br />
on energy efficiency.<br />
Reduce greenhouse gas emissions intensity<br />
and energy use intensity (per m 2 ) across our<br />
Commercial Property portfolio by 20 per cent<br />
by FY14.<br />
Expanded our office green leases to cover approximately 20 per cent<br />
of our net lettable area.<br />
Administered over 850 green leases with retail tenants.<br />
Facilitated several energy audits for tenants in retail and office assets<br />
to share knowledge and reduce impacts.<br />
Received government support to deliver online sustainability training<br />
for our retail tenants and centre management teams.<br />
Attained mixed results for greenhouse gas emissions intensity across<br />
our Commercial Property business. Our retail portfolio emissions<br />
intensity increased 2 per cent. This result has been more than offset<br />
by the 7 per cent emissions intensity reduction in our office portfolio.<br />
Achieved<br />
outcome<br />
On track for<br />
target<br />
<strong>Stockland</strong> Corporate Responsibility & Sustainability Report June 2010<br />
71