Appendix B
Task Force on Climate-related Financial Disclosures
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. From FY20 Landcom is adopting the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) and will be 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
Where we are today
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
Management’s role
Director Sustainability & Learning oversees assessment and management of climate-relatedissues, 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.
Audit & Risk Management Committee
Annual review of transition risks, or portfolio wide physical and social risk trends
Future priorities
Continue to deliver on our Climate Risk Management Plan
Develop climate-related Key Performance Indicators for senior business leaders
Establish a forum within the business to drive leadership and raise the internal profile of climate-related issues management
Where we are today
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 in Landcom’s Communications & Policy FY21 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
Registration as Climate Active Carbon Neutral Standard addresses organisational carbon neutral approach
Future priorities
Develop climate scenarios in line with TCFD recommendations to inform future business priorities
Certify Landcom under the Climate Active Carbon Neutral Standard
Where we are today
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
Future priorities
Integrate 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% |
