This case study discusses the experience of leading property group Stockland in bringing together corporate responsibility, sustainability and human resources.
Contents
Summary
Stockland Headquarters
Source: Christina Hughes, Stockland
Stockland is one of the top 50 ASX listed companies and one of Australia's largest, most diversified property groups. It is has a progressive corporate responsibility strategy and underpins this commitment with its human resources strategy. Corporate Responsibility and Sustainability are Key Performance Indicators used to evaluate and reward staff performance. A strong sustainability approach is also seen as a measure to attract and retain quality staff.
The following interview with Siobhan Toohill, General Manager Corporate Responsibility and Sustainability, Stockland, explores the company's motivations and lessons learned so far.
Motivations and lessons
Interview with Siobhan Toohill (General Manager Corporate Responsibility and Sustainability, Stockland)
30 July 2007
What are the main reasons why your company chose to implement a corporate sustainability agenda?
Social Drivers:
In terms of our corporate sustainability agenda one of the main benefits was attracting and retaining the best quality talent. People not only expect a focus on sustainability, but want to work in an environment which is safe, comfortable and inspiring.
We wanted to be ahead of the curve instead of reacting to it. Regulation is changing and there are emerging tools and regulation.
The application to the broader community and stakeholders - from investors, to the community and media - we want to show we are leading the way.
Financial drivers:
There's a recognition of the financial benefit and its effect on the bottom line. The three points mentioned above are primarily social drivers, however these are inextricably linked to the financial drivers, as they translate into financial benefits as well.
What are the best things that have come out of having a corporate sustainability agenda?
Innovation - it's got people thinking about what's possible and has helped develop and manage the portfolio.
Engagement of employees - there's a commitment that comes from shared values and a common purpose. Built into this point is a sense of pride in the work and a sense of affecting change.
Working with the supply chain and partners has helped others go on this journey too. It's a collaborative experience and learning from each other fosters the partnership.
What were the things that you did that made it work well?
Following a broader sustainability agenda we built a strategy. We didn't do everything at once, and we didn't grab a strategy off the shelf, but tailored it to suit our requirements. We needed to understand what it meant for our organisation; you can't just buy a book or pay a consultant and expect to get the same level of results.
The commitment comes from the top. Our senior executives and leadership team were absolutely behind this initiative, with further support and commitment at the grass roots level, particularly from younger members of the group. Leadership is critical.
In terms of making it work and getting it right, having tangible results was very important. By building from small things to big things, people have a sense of what's possible. We're now working with government on sustainable housing and winning awards in this arena. It is the small tangible steps that make it possible to take bigger steps in the future.
What were the things that didn't work quite so well and how were they managed?
One thing that's very difficult is determining the financial value of the process. It's hard to put a figure on the cost of doing it but also the value it returns. People want to know and we intuitively know it's the right way.
Secondly - it's not wrong, but we've probably been quite timid - we're now working to build more effective communication around what we are doing with both internal and external stakeholders.
Part of that is process is working on our Sustainability Report and exchanging knowledge which often resides in one part. We have improved the dialogue with our internal and external stakeholders and now have more people working in sustainability roles. We have a better understanding of sustainability and engaging with clients to know how important this is for them.
We are also now working in partnership with other organisations not necessarily in property, to broaden the corporate sustainability agenda. This includes Banara who assure Westpac and Tasmanian Hydro, other property organisations globally and the Global Reporting Initiative (GRI). This is what stakeholders expect; it is what's material for them in terms of truth and integrity. It's not just good news but also issues that we are dealing with - someone holding up the mirror.
An important step was to recognise our people's contribution to sustainability in their every day working activities. Corporate responsibility and sustainability is a stated objective in every Stockland employee's Balance Scorecard. Everyone reports against this objective. This means that there is scope for all employees to be rewarded for contributing to our corporate responsibility and sustainability outcomes. This is a big part of our strategy and corporate responsibility employees who report to the Director of Human Resources (HR). This empowers people to deliver.
Other information and resources
Stockland's Participation in the Carbon Disclosure Project
Aligning mission, vision and strategy for sustainable commercial buildings
Culture change for sustainable commercial buildings
Education, awareness and training for sustainable commercial buildings
Add Comment
