Stockland today announced it has accelerated its climate action, bringing forward its target to achieve Net Zero Carbon emissions to 2028 – two years earlier than previously committed – and extended the commitment across all its business activities. Stockland’s target covers close to 170 active assets and projects across Australia, including residential development emissions.
This new target demonstrates the company’s long-standing commitment to climate action and continues the business’ track record of ESG leadership in delivering environmental, social and economic outcomes for the community.
Stockland Managing Director and CEO, Mark Steinert said: “Stockland has a long and proud history creating communities across Australia for more than 65 years. Over this time, we have taken considered steps to minimise our impact on the local environments in which we operate and make a meaningful contribution to and investment in the community.
“This commitment to bring forward our Net Zero Carbon target to 2028 and extend it across our business is part of the 2030 sustainability strategy we will launch in 2H21.
Stockland will achieve its Net Zero Carbon target through continuing the successful rollout of renewable energy, portfolio electrification and pioneering a number of innovations to reduce its overall carbon footprint.
Stockland’s Net Zero Carbon program is also underpinned by a partnership with the Clean Energy Finance Corporation (CEFC), which last year provided a $75 million debt facility which funds key initiatives including Net Zero Carbon for our Retirement Living and Industrial portfolios and for our Corporate Head Offices.
Stockland Chief Financial Officer, Tiernan O’Rourke said: “There has been growing investor interest in responsible investment and a focus on ensuring businesses are transparent around their commitments. Investors are seeking to invest in companies that can demonstrate they are taking bold and meaningful action around sustainability and can balance the need for sustainable business practices with a fair return on investment. Sustainability has become an integral part of doing business successfully.
“At Stockland we have a track record of innovation and investment in emissions reduction. We achieved our FY25 emission intensity reduction target four years early resulting in $123 million operational cost savings since FY06. However, we recognise that there is more to do.
“Our Net Zero Carbon commitment doubles our recent industry leading $33 million, 18 megawatt installation of rooftop solar across our portfolio with an additional up to 19 megawatts across our retail town centre and logistics assets.
“As part of our broader 2030 Sustainability Strategy, we will continue to explore ways our business can lead and accelerate change across the sector and will track and report on our progress each year as part of our annual corporate reporting. Our Net Zero Carbon commitment will seek Climate Active certification, which will align our efforts to a government approved and industry accepted standard.
“Stockland’s climate action extends to its supply chain where we partner with home builders, state governments, solar providers, the Green Building Council of Australia and the Clean Energy Finance Corporation to accelerate low-emissions market transformation in the residential sector.
“We have a number of active projects underway including creating Net Zero Carbon homes which balance quality, affordability and sustainability including a partnership with Sustainability Victoria to deliver Net Zero Carbon homes at our Orion and Highlands communities in Victoria. We also have a pilot solar offer at our Newport community in Queensland where customers can receive 36 months of free electricity or save up to $7,000 on the retail price of solar panels,” said Mr O’Rourke.
Stockland has the resources, plan and targets which set it up well to deliver its broader strategic goals while running a successful business. The business has a strong reputation for successfully delivering ESG outcomes and has been recognised for more than a decade as a global leader by ESG benchmarks including the Dow Jones Sustainability Index (DJSI), Global Real Estate Sustainability Benchmark (GRESB) and CDP. Stockland will launch its 2030 Sustainability Strategy in the coming months with the aim of extending its leadership into the next decade.
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