In a move that demonstrates Stockland’s firm commitment to climate action, the company has brought forward their target to achieve Net Zero Carbon emissions by two years to 2028 [1]. The commitment extends to all business activities, covering close to 170 active assets and projects across Australia, including residential development emissions.

Stockland’s move continues the business’ track record of ESG leadership in delivering environmental, social and economic outcomes for the community.

“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 the community,” commented Stockland managing director and CEO, Mark Steinert.

“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 has implemented several measures to achieve their Net Zero Carbon target including the successful rollout of renewable energy, portfolio electrification and pioneering a number of innovations to reduce their overall carbon footprint.

A partnership with the Clean Energy Finance Corporation facilitated a $75-million debt facility in 2020 to fund key initiatives including Net Zero Carbon for Stockland’s Retirement Living and Industrial portfolios as well as their corporate head offices.

“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,” Stockland chief financial officer, Tiernan O’Rourke explained.

“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,” he added.

According to O’Rourke, Stockland, as part of their broader 2030 Sustainability Strategy, will continue to explore ways the business can lead and accelerate change across the sector as well as track and report on the progress each year as part of their annual corporate reporting.

Stockland will also seek Climate Active certification for their Net Zero Carbon commitment in order to align their efforts to a government approved and industry accepted standard. The climate action strategy will extend to the company’s supply chain, involving partnerships with home builders, state governments, solar providers, the Green Building Council of Australia and the Clean Energy Finance Corporation to help 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,” O’Rourke said.

Stockland 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.

[1] Stockland’s Net Zero Carbon target includes Scope 1 and 2 emissions under Stockland’s operational control as determined by the National Greenhouse and Energy Reporting Act 2007.