REA GROUP LIMITED SUSTAINABILITY REPORT 2023
Changing the way the world experiences property
REA Group Ltd
Contents
- About REA Group
- 2023 highlights
- ESG recognition
- CEO message
- Chief People & Sustainability Officer message
- Materiality assessment
- Key Metrics
- Governance
- Responsible and ethical business practices
- Data privacy and cyber security
- Innovation and technology
- Risk and resilience
- Climate related financial disclosures
- Social
- Diversity, equity and inclusion
- Talent attraction and retention
- Culture and values
- Community investment
- Experience and satisfaction - customer and consumer
- Product quality and service
- Housing affordability advocacy and industry leadership
- Environment
- Climate change
68 Global Reporting Initiative (GRI)
78 Independent Limited Assurance Report
REA Group Ltd | Sustainability Report 2023
Acknowledgement of country
Since 1995, REA Group has operated on the Traditional lands of the Wurundjeri Woi-wurrung peoples who have cared for and protected it since time immemorial.
As the business has grown and established offices around Australia, we're grateful for the custodianship of the Traditional Owners of Country across all our lands; and recognise their continuing connection to lands, waters and communities.
We pay our respect to Aboriginal and Torres Strait Islander cultures; to Elders past and present; and acknowledge that sovereignty was never ceded.
Sustainability Report 2023 | REA Group Ltd
INTRODUCTION
GOVERNANCE
SOCIAL
ENVIRONMENT
1
Introduction
About REA Group
REA Group Ltd ACN 068 349 066 (ASX:REA) is a leading digital property-centric business headquartered in Richmond Victoria, Australia, with more than 3,300 people working
to change the way the world experiences property.
In Australia, REA Group Ltd and its subsidiaries
('REA Group' or 'REA') operates the leading residential and commercial property sites realestate.com.auand realcommercial.com.au, as well as a leading provider of property data services PropTrack. REA also operates Australia's number one share accomodation platform, flatmates.com.au, as well as Mortgage Choice and the property research site, property.com.au.
In Australia, REA holds strategic investments in Simpology Pty Ltd, a provider of mortgage application and e-lodgement solutions for the broking and lending industries, Realtair Pty Ltd, a digital platform providing end-to-end technology solutions for the real estate transaction process, and Managed Platforms Pty Ltd, an emerging Property Management software platform.
Internationally, REA Group holds a controlling interest in REA India, operator of established brands Housing. com, Makaan.com and PropTiger.com. REA Group also holds a 20% shareholding in Move, Inc., operator of realtor.com in the US, and a 17.3% shareholding in PropertyGuru Group Limited, operator of property sites in Malaysia, Singapore, Thailand and Vietnam.
On 5 July 2023 REA Group obtained 100% ownership of CampaignAgent, a leading fintech company specialising in property vendor funding solutions. This follows the Group's initial acquisition of 27% of the business in 2021.
- www.rea-group.com
2 | REA Group Ltd | Sustainability Report 2023 |
Introduction
2023 highlights
Data Privacy and cyber security
REA delivered a material security maturity uplift in our Mortgage Choice business aligned to the National Institute of Standards and Technology (NIST) Cybersecurity Framework (CSF). We established an Enterprise Privacy Program and introduced dedicated privacy squads. We also introduced
a Generative Artificial Intelligence (AI) forum to unlock the potential of this technology to enable efficiencies and opportunities in a safe and responsible manner.
Diversity, Equity and Inclusion
REA established expert partnerships to expand our employee experience for people living with disability and/ or neurodivergent people. REA Australia's Women in Technology gender representation reached 31.6%, which is above the global benchmark of 30%. REA India increased female representation in the Product, Design
- Technology cohort to 20.3% in FY23 from 15% in FY22.
Climate ambition
REA Group announced it is targeting net zero emissions across scope 1, 2 and 3 by 2050.
Supplier governance and sustainable procurement
OneTrust, REA's supplier due diligence tool, was embedded to streamline critical governance processes and enable sustainable procurement practices.
Customer wellbeing program
Prosper, REA's wellbeing platform for customers, was expanded in FY23 to benefit the entire property industry, focusing on health, wellbeing, and long-term prosperity.
Climate awareness
Environmental education sessions for employees to support their personal transition to a low carbon future including the renewable energy market, waste and recycling.
Climate risk
REA conducted a qualitative scenario analysis of our Australian business, to identify physical and transition climate risks and opportunities.
Community Investment
In FY23 REA invested almost $2 million in the community. We established the Mortgage Choice Foundation with brokers contributing $5 for every loan, matched by REA. Our refreshed Because We Care program saw volunteer leave increase 169% annually, and the introduction of an annual recognition award for community service.
Renewable energy
The move to GreenPower accredited renewable energy reduced REA Australia's electricity emissions by 64% annually.
INTRODUCTION
GOVERNANCE
SOCIAL
ENVIRONMENT
Sustainability Report 2023 | REA Group Ltd | 3 |
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Disclaimer
REA Group Limited published this content on 19 September 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 September 2023 01:14:03 UTC.
