Landcom recognises the systemic threat posed by climate change and the need for urgent mitigating action. In 2018 Landcom launched its Sustainable Places Strategy, directly aligned to the Sustainable Development Goals, Paris Agreement and 100 Resilient Cities Strategy for Sydney.
Our Strategy includes a commitment to enabling carbon neutral, water positive, zero waste and net positive ecological outcomes at our new communities by 2028.
While we continue to deliver on these commitments at our assets, Landcom is also taking steps to bolster our overall approach to mitigating the risks of climate change to our organisation. In FY20 Landcom adopted the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD) and began progressively working towards full alignment. We are aligning with the TCFDs as it is leading practice, and our disclosures are presented with consideration to the interests of our stakeholders.
We recognise that there will always be space for continuous improvement and maturity when responding to climate change risks and opportunities.
Where we are today
Future priorities
Governance
Board oversight
Executive General Manager Communications & Policy provides quarterly updates on climate-related issues to the Board
Climate-risks accompany all new project acquisition or development approval proposals requiring Board approval
Board considers climate-related issues and performance as part of risk and corporate strategy and operational planning
Board approves annual Sustainability and Annual Reports with relevant climate-related disclosure
Audit & Risk Management Committee are updated on climate risks twice annually
Management’s role
Director Sustainability & Learning oversees assessment and management of climate-related issues, and reports to Executive General Manager Communications & Policy
Executive General Manager Communications & Policy provides monthly updates on climate-related issues to the Executive Committee
Executive Committee oversees implementation of Climate Risk Management Plan
Executive Committee, Director Audit & Risk and Director Sustainability & Learning monitor climate-related risks via Landcom’s Strategic and Operational Risk registers
Management endorses for Board approval Landcom’s Sustainability and Annual Reports, with climate-related management approach and performance disclosures
Members of the Executive Committee, Director of Sustainability & Learning and all Sustainability staff have Key Performance Indicators related to climate risk and resilience
Continue to deliver on our Climate Risk Management Plan
Continue all existing governance protocols
Strategy
Sustainable Places Strategy addresses project-based climate issues, including adaptation and resilience management, and transitioning our approach towards carbon neutral communities by 2028
Landcom’s Climate Risk Management Plan guides business approach to FY22
Integration of climate-related issues into Landcom’s Strategic Plan FY22-FY24
Integration of climate-related issues in Landcom’s Communications & Policy FY22 Divisional Plan
All new projects (and prospective acquisitions) assessed for climate-related physical, social and interdependent risks against several timescales and scenarios, typically being 2030 (RCP4.5), 2070 (RCP 8.5) and 2090 (RCP 8.5)
Roundtable Research Priorities includes a focus on funding proposals that advance resilience
Certification as a Carbon Neutral Organisation, under the Climate Active Carbon Neutral Standard
Identified our material climate-related transition risks for financial scenario analysis
Finalise financial scenarios in line with TCFD recommendations to inform future business priorities
Develop a transition risks and management business case for the organisation with key recommendations for adoption
Develop a carbon positive roadmap for Landcom’s project portfolio
Risk Management
Climate-related risks identified and integrated into Landcom’s Strategic and Operational Risk registers
Climate-related risks incorporated into future corporate strategic planning
Climate-related risks integrated into Risk Appetite Statement
Roundtable Research Priorities includes a focus on funding proposals that advance resilience
All new projects (and prospective acquisitions) assessed for climate-related physical, social and interdependent risks are accompanied by recommended adaptation, mitigation or management actions
Consistent risks being identified across our project portfolio disclosed in Sustainability Report (refer to Climate Change Risk and Community Resilience)
Community resilience plans developed for all new projects
Integrated identified climate-related risks into project business plans
Advance understanding and disclosures of response to climate‑related transition risks
Advance understanding and disclosures of climate-related financial impacts to the organisation
Where we are today
Metrics & Targets
Sustainable Places Strategy incorporates a suite of targets to address resilience and carbon reduction across Landcom’s project portfolio, and performance is reported annually in the Sustainability Report (see Climate & Resilience Performance Results).
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All new projects to undertake a Climate Resilience Assessment |
All new projects to prepare and implement an effective Climate Adaptation and Community Resilience Plan |
All new projects modelled to reduce Green House Gas emissions by 50% |
