13 April 2022
2021 Sustainability Report
The GPT Group ('GPT') provides its 2021 Sustainability Report which has been authorised for release by The GPT Group Board.
For more information, please contact:
INVESTORS AND MEDIA
Head of Investor Relations and Corporate Affairs +61 402 079 955
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Celebrating 50 years of creating value and enriching communities.
02. Message from the CEO
56. Appendix A: Explanatory Notes
57. Appendix B: Supplementary Data
63. Appendix C: UNGC Communication on Progress
66. Appendix D: GRI Content Index
75. Appendix E: Assurance
Welcome to The GPT Group Sustainability Report for 2021.
GPT acknowledges the Traditional Custodians of the lands on which our business and assets operate, and recognise their ongoing connection to land, waters and community. We pay our respects to First Nations Elders past, present and emerging.
This Sustainability Report complements The GPT Group 2021 Annual Report released on 14 February 2022, providing further information about our management approach, priorities and performance in addressing material environmental, social and governance matters aligned to the Global Reporting Initiative (GRI) Standards: Comprehensive option.
GPT welcomes feedback from stakeholders on this report, as we continue to reﬁne and enhance our corporate reporting suite.
Please email your feedback to firstname.lastname@example.org.
$250m $8.2m 2nd
Employees are proud to work for GPTInaugural green bond issued by GWOFCommunity investmentRanked real estate company globally in the S&P Global Corporate Sustainability Assessment
4th year 2024
Recognised as an Employer of Choice for Gender Equality (WGEA)1
Carbon neutral target for operations across managed portfolio
Procured from First Nations owned businessesGRESB status (maximum) for ESG management and performance
This Sustainability Report is part of our corporate reporting suite for 2021 that includes:
An integrated report summarising the value created by GPT's business activities that includes the annual ﬁnancial statements for the Group.
CLIMATE DISCLOSURE STATEMENT
A statement of the steps we are taking to identify, assess and manage climate change risks and opportunities, prepared in accordance with TCFD recommendations.
CORPORATE GOVERNANCE STATEMENTMODERN SLAVERY STATEMENTENVIRONMENT DASHBOARD
A statement of how GPT addresses the ASX Corporate Governance Council's Corporate Governance Principles and Recommendations (4th Edition).
A statement of our actions and plans to identify and prevent modern slavery within our operations and across our supply chains.
Detailed environmental performance reporting guided by the Global Reporting Initiative (GRI) and assured annually.
(Published December 2021.)
Contains information about our enterprise policies, processes and sustainability initiatives.
In addition to the reporting suite, GPT participates in environmental, social and governance (ESG) indices and benchmarks to measure our sustainability performance and provide transparency for our stakeholders.
1. Awarded March 2022.
GPT is recognised as a global sustainability leader, evidenced by our strong performance in the leading ESG benchmarks from GRESB and S&P in 2021 and for more than a decade prior.
for Buildings Certiﬁcation the entire GPT Wholesale Ofﬁce Fund portfolio in 2020, we remain on-track to achieve our ambitious target for all our managed ofﬁce and retail assets to be certiﬁed as operating carbon neutral by the end of 2024, with additional assets certiﬁed in 2021, and further assets being certiﬁed in 2022. We have more carbon neutral building certiﬁed ﬂoor space than any other Australian property owner. 1
Our vision is to be the most respected real estate company in Australia. Excellence in ESG matters underpins our activities and the business's future performance.
Our efforts to understand and address another complex global challenge, modern slavery, continued in 2021. We have established a strong foundation to delve deeper into this issue, notably through our association with the Cleaning Accountability Framework and our modern slavery supplier audit program.
Good corporate governance is a fundamental part of GPT's commitment to our securityholders and plays an integral role in supporting our business and helping to deliver on our strategy. We continue to act as a responsible business in accordance with our commitments and obligations. I reafﬁrm GPT's support of the ten principles of the United Nations Global Compact (UNGC) on human rights, labour, the environment and anti-corruption and we transparently report our progress in the annual UNGC Communication on Progress, which is included in Appendix C of this Report.
Safety is a core value for The Group and all employees play a part in ensuring that our colleagues, stakeholders and visitors to our workplaces or assets go home safely.
Our 'Safety ﬁrst' culture encompasses all of our activities and is reinforced by the Safety Leadership Program that all employees complete as part of their induction process.
Employee wellbeing was of paramount importance in 2021 given the sustained effects of the pandemic. When government restrictions were in place, we centred our efforts on providing opportunities for our people to come together, providing support focused on mental health and managing family life, and communicating regularly through virtual Town Hall meetings and team gatherings.
We completed our Stretch Reconciliation Action Plan (RAP) during 2021 and will continue to contribute to reconciliation through our next RAP which will be released in 2022. We are partnering with First Nations stakeholders to inform our developments and to support opportunities for our people, customers and communities to explore the ancient cultures and traditions of Australia's First Nations people through our commitments and activities.
This Sustainability Report reﬂects our tenacity and persistence, which drove the continued delivery of our ESG priorities and objectives in another pandemic-affected year. I thank our people and our partners for their collaboration and commitment to these shared goals.
The Group's sustainability achievements are a testament to the efforts of our people. An engaged and empowered workforce remains vital for GPT to fulﬁl its purpose.
Global action to address climate change accelerated in 2021. GPT has been proactive in ensuring the resilience of its portfolio and minimising its impact on the environment. Following the Climate Active Carbon Neutral
We continued our progress towards our diversity, inclusion and equity targets during 2021, retaining our status as an Employer of Choice for Gender Equality, a Bronze Employer for LGBTQ+ Inclusion, and attaining certiﬁcation as a Family Inclusive Workplace. 2
1. By Gross Floor Area, certiﬁed against the Climate Active Carbon Neutral Standard for Buildings as at December 2021.
2. Family Inclusive Workplace Certiﬁcation was awarded on 15 February 2022.
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