Introduction

On the reporting front, we disclose and measure our sustainability performance against the Global Reporting Initiative (GRI) framework. Our overall operations continued to be measured against the International Organisation for Standardisation for Environmental Management Systems (AS/NZS ISO 14001:2004).

Emerging trends in the reporting framework

The GRI announced a final update in its third generation of sustainability reporting guidelines, by launching GRI Technical Protocol 3.1 in March 2011. The GRI 3.1 guidelines are a voluntary interim measure pending the launch of the G4 guidelines in 2013-2014. GRI 3.1 addresses three specific aspects of the current G3 framework relating to community impacts, human rights and gender equality. The new reporting requirements encourage more transparent reporting for businesses that operate across regions or countries, where different labour laws and standards are likely to apply. The requirements were announced towards the very end of the 2010-2011 reporting period and most are not directly relevant to Landcom’s operations. Nevertheless, while we will be assured against the previous requirements this year, we have elected to report against those elements of GRI 3.1 that are applicable to our business. Over the past two years, Landcom has been involved in the preparation of the Construction and Real Estate Sector Supplement (CRESS) by the GRl. This sector supplement contains additional reporting guidance for entities in  the construction and real estate sectors and will be launched for use in the 2011-2012 reporting year.

How we performed

This year we attained an A+ application under the GRl standard. This is the highest reporting standard, representing the greatest degree of disclosure under the GRl framework and includes independent assurance of our report. We will not be reporting against the CRESS in this report, as it was not in its final version for the period of this sustainability report. Once the final version of CRESS is available, we will assess which components of the sector supplement are material to our business and will progressively align our report to the new disclosures under this framework. We anticipate this process might take up to 24 months to complete.

Volundary compliance - Global Reporting Initiative

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