myFrasersProperty
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Our Progress
At Frasers Property, we're committed to boldly growing our business in ways that are good for our people, customers and the environment.
We document the goals and targets we set for ourselves, to pinpoint how and when we plan to make a difference. Every two years we review our targets, reflecting on our successes and challenges, and identifying new priorities and opportunities based on changes in the market, our customers, technology and climate science.
Our ESG metrics are currently under review as part of refreshing our strategy. We note that we are still making substantial progress in Sustainability performance.
In the last 12 months we have:
- Completed our second Innovate RAP to 90% and are in the process of developing a new Innovate Reconciliation Action Plan.
- Completed limited assurance of our greenhouse gas inventory that considers all emission associated with scopes 1, 2 & 3.
- Achieved performance indicators for sustainability linked loans – including for carbon reductions associated with scopes 1, 2 & 3.
- Undertaken thermal performance modelling across standard townhouse product to enable optimisation of building orientation and fabric.
- Conducted lifecycle assessments on selected townhouse, apartment, and infrastructure projects to better understand how to reduce embodied carbon emissions.
- Undertaken decarbonisation pathways for our existing commercial assets.
- Undertaken a readiness assessment against the Total Climate-related Financial Disclosures Standard and are preparing for the implementation of Australian Sustainability Reporting Standard in Australia.
- Rolled out design thinking and innovation training and workshops to staff.
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Acting Progressively
2020 |
Align FPA's governance, business strategy and risk management procedures to account for climate related risks in accordance with TCFD recommendations, by 30 September 2021 |
We have completed a gap analysis of current processes against TCFD recommendations and have appointed a consultant to assist in reviewing our current systems and procedures to meet TCFD requirements. |
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2020 |
Establish mandatory Environmental, Social & Governance (ESG) considerations for all investment proposals, by 30 September 2020 |
We have identified the most material considerations, and developed an assessment and reporting methodology that we plan to pilot in the near future. |
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2020 |
Using relevant third party certification programs, certify all new projects, from 30 June 2020 |
We will continue to maintain a 5 star Green Star Design and As Built or Green Star Communities certification standard for all new developments. |
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2020 |
Using relevant third party certification programs, certify 100% of owned and managed assets, by 30 September 2024 |
We are making good progress towards achieving this target by 2024. |
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2020 |
10% of staff in each Division to be trained Innovation Champions, from 30 September 2020 |
We have achieved more than 10% trained Innovation Champions across Australia. |
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2020 |
Maintain minimum 5 star GRESB status for FPA (Developer), FPI and FLT |
We achieved 5 star GRESB status since 2018. |
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2018 |
10% of staff in each Division to be trained Innovation Champions, from 2020 |
We have achieved more than 10% trained Innovation Champions across Australia. |
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2018 |
Be recognised in the top quartile of innovative companies from 2018 |
While the third party assessment has changed, we were shortlisted in the AFR Most Innovative Companies List in 2018 and 2020. |
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2018 |
Implement Resilience Policy amp; Framework from 2018 |
Achieved successfully. |
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2016 |
Include ESG in our impact risk assessment by 2016 |
We achieved this through Green Star requirements and certification. We have also developed a CSR Policy. |
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2016 |
All new developments and properties owned and / or managed will be Green Star certified by 2018 |
We have achieved a minimum 5 Star rating on all new industrial buildings. We have targeted 5 Stars for commercial and 6 Stars for retail in development. |
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2016 |
Undertake a climate risk assessment on 100% of all investments by 2016 and develop climate adaptation plans as appropriate |
We undertook climate risk assessments for all properties in 2016, and continue to assess properties as part of Green Star. We've also established a Resilience Policy. |
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2016 |
All new developments and properties owned and / or managed will be Green Star certified by 2018 |
We have achieved a minimum 5 Star rating on all new industrial buildings. We have targeted 5 Stars for commercial and 6 Stars for retail in development. |
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In progress
Achieved
Not achievedConsuming Responsibly
2020 |
Be net zero carbon in development and operation, from 30 September 2028 |
We’re developing a net zero carbon roadmap and ambitious targets that include scope 1, 2 and 3 emissions. |
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2020 |
Real Utilities to supply 100% renewable energy, by 30 September 2023 |
We are on track to supply 100% renewable energy through on-site and off-site sources. |
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2020 |
Real Utilities assessment to be included in every investment proposal, from 30 September 2020 |
We have completed this for Retail and Commercial projects and are in the process of completing for Residential and Industrial projects. |
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2020 |
Establish a Responsible Sourcing Policy and integrate into procurement decision-making, by 30 September 2020 |
We’re committed to tackling Modern Slavery and are in the process of finalising our Policy and establishing the processes to ensure it is embedded within our business. |
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2020 |
Develop a sustainable product database, and integrate into design and procurement decision-making for new projects, by 30 September 2021 |
We are working towards supporting an existing external database. |
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2020 |
Develop a company-wide biodiversity strategy, by 30 September 2021 |
We have conducted research and are currently developing our Biodiversity Strategy to drive our investment, design and delivery decisions. |
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2020 |
Develop a Toward Zero Waste roadmap, by 30 September 2021 |
We have piloted Towards Zero Waste projects, including at Burwood Brickworks and are piloting a circular economy project. |
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2020 |
Divert minimum 98% construction waste from landfill on all new build projects, from 30 September 2020 |
In FY20 we achieved a construction recycling rate of 90%. We will continue to work towards achieving this target in FY21 and beyond. |
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2020 |
Maintain Climate Active Carbon Neutral certification for our organisation and corporate operations, with year on year improvement plans to reduce emissions |
We've been certified as a carbon neutral organisation since 2015/16, and will continue to maintain this. |
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2018 |
All projects to have a biodiversity management amp; feature plan by 2020 |
We began work on this target, then resolved to step back and develop our over-arching biodiversity strategy. |
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2018 |
Average 98% construction recycling rates by 2020 |
We made good progress on this target, and widened the scope in 2020. |
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2018 |
Be carbon zero by 2028, with a roadmap established in line with SBTs by end of 2018 |
We registered our Science Based Targets and wrote our Zero Carbon Roadmap, so we updated this target in 2020. |
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2018 |
Develop a design and construction waste avoidance policy by 2019 |
We made good progress on this target, and widened the scope to 'roadmap' in 2020. |
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2018 |
Each project to have an integrated water solution by 2020, reducing water use and intensity, with minimum water standards |
We are in the process of developing a Minimum Water Efficiency Standard for our new developments and existing assets. |
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2018 |
Establish a Red List product database by 2018 |
We created Greensheet for Burwood Brickworks, and widened the scope of this target in 2020. |
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2018 |
Establish a socially & environmentally responsible procurement policy by 2018 |
We have developed our CSR Policy. |
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2018 |
Establish operational waste strategy by 2018 |
Achieved successfully. We're now working on a Toward Zero Waste roadmap. |
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2018 |
Real Utilities to supply 100% renewable energy by 2023 |
We are on track to supply 100% renewable energy through on-site and off-site sources. |
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2016 |
Decrease energy intensity by 20% |
We have installed renewables and increased efficiency across our assets. We are now focusing on developing a net zero carbon roadmap. |
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2016 |
Incorporate renewable energy into all new developments by 2018 |
Solar PV is included in our residential minimum energy standards and on all NSW and QLD industrial sites. |
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2016 |
Decrease water intensity company-wide by 20% |
We have developed a minimum water efficiency standard for new developments and existing assets. |
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2016 |
Re-use water on every new project |
We have installed water storage on every new project. |
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2016 |
Achieve 90% recycling rates across the business |
We achieved 94% recycling across our development business. |
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2016 |
Undertake a supply chain review to identify risks and opportunities as per UN Global Compact commitments |
We completed a preliminary supply chain review and began engaging with our supply chain. |
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2016 |
Review our company-wide biodiversity approach, to understand our impact and potential for value creation |
We established a Biodiversity Working Group and began identifying how we can feature biodiversity and biophilia on every project. |
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2016 |
Undertake a Life Cycle Analysis (LCA) for each of our asset classes by 2016 |
We continue to undertake an LCA on projects to inform our design decisions. |
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Focusing on People
2020 |
Achieve 40% women at CEO -3 level, by 30 September 2020 |
This is proving challenging, largely due to high staff retention. At the end of 2019, we were at 35%. |
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2020 |
Adopt the Australian Workplace Equality Index (AWEI) framework, by 30 September 2021 |
We are working towards achieving this target, with submission due early 2021. |
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2020 |
Implement Innovate Reconciliation Action Plan and demonstrate increased impact upon renewal |
Since launching in July 2018, we've achieved 49 of 58 targets from our first Innovate RAP and are launching our second RAP in January 2021. |
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2020 |
Develop and deliver a broad-based Diversity and Inclusion strategy, inclusive of gender, mental health, culture & ethnicity and LGBTIQ; implemented by 30 September 2021 |
We've launched a number of initiatives including Frasers Pride Australia and mental health awareness in 2020. |
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2020 |
Minimum 200 volunteering days completed by staff annually, from year ending 30 September 2020 |
As of November 2020, we have completed 29/200 volunteering days for FY21. |
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2018 |
Achieve 40% women at CEO -3 level by 2020 |
We have made significant progress on this target and will continue to work towards achieving it beyond 2020. |
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2018 |
Achieve WGEA certification by 2019 |
We have achieved this certification in 2019 and again in 2020. |
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2018 |
Broaden the Gender Equity Council to include diversity & inclusion by 2019 |
We achieved this target in 2019, expanding the Council's remit to include LGBTI, culture & ethnicity and cognitive diversity. |
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2018 |
Each business unit to deliver new products/services to address access & value from 2018 |
Achieved successfully. Notably, Residential commenced an innovation mission on this theme. |
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2018 |
Roll out national health & wellbeing partnerships for customers and staff from 2017 |
Achieved successfully. Notably, Life Life Get Active and Smiling Mind. |
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2018 |
Establish health & wellbeing metrics for each business unit by 2018 |
We struggled to collate meaningful data given privacy and other constraints. |
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2018 |
Develop an A Different Way engagement plan for internal and external audience by 2018 |
Successfully completed, noting that ongoing communications are essential to retain awareness and build expertise. |
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2018 |
Establish a shared value measurement tool for use on all projects by 2018 |
We found this target challenging, and instead focused on asset-specific and project-specific initiatives. |
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2018 |
Establish annual FPA Community Day by 2019 |
After further consideration, we resolved to adopt a days-based volunteering target. |
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2018 |
Launch Reconciliation Action Plan by 2018 |
We launched our first Innovate Reconciliation Action Plan in 2018. |
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2018 |
Roll out FPA Community partnership from 2017 |
Our three-year charitable partnership with Smiling Mind commenced in November 2017. |
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2016 |
All FPA staff to be trained in sustainability by 2017 |
We trained 59% of staff in sustainability in 2016 and 2017. Training is available to all staff as required. |
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2016 |
Develop and implement the FPA Diversity and Inclusion Policy |
Our Diversity and Inclusion Policy was launched in October 2016. |
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2016 |
Launch Reconciliation Action Plan by 2018 |
We launched our first Innovate Reconciliation Action Plan in 2018. |
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2016 |
80% staff participation in FPA health & wellbeing program by 2020 |
Achieved successfully. Free flu shots and health checks were popular intiatives. |
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2016 |
Continue our safety commitment across the business in accordance with our Occupational Health & Safety Plan |
We continue to have safety as a top priority for our employees, contractors and customers. |
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2016 |
Establish a shared value measurement tool for use on all projects by 2017 |
We launched our Community Investment Strategy, and began working with partners to develop a measurement tool. |
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