The Materiality approach adhered to the requirements of the following:
- Global Reporting Initiative (GRI);
- AccountAbility AA1000 Materiality Principle and Assurance Standard International;
- the integrated Reporting Council Framework; and
- consider the United Nations Sustainable Development Goals (SDGs).
The SDGs capture global sustainable development priorities and demonstrate where corporations can have an impact on global environmental and social issues.
The Star Entertainment Group’s Sustainability Strategy continues to combine key priorities and objectives in a four-pillar framework that supports our business plan.
Our four sustainability strategic objectives are:
- We strive to be Australia’s leading integrated resort company
- We build and operate world class properties
- We actively support guest wellbeing
- We attract, develop and retain talented teams.
In line with best practice, the Group continues to improve sustainability reporting and disclosures year on year. Over the last financial year, the Group released its first report applying a ‘core’ level of compliance against the Global Reporting Initiative (GRI) and received limited assurance from EY for the Group’s carbon and energy data and reporting processes.
CLIMATE CHANGE RESPONSE
The Star Entertainment Group recognises that its properties may be susceptible to future changes in climate and that we have a responsibility to reduce resource consumption. Accordingly, we are committed to improving the resilience of our business operations, our assets, and the precincts in which our properties are located.
We are doing this by continuing to conduct external climate risk assessments, managing our carbon emissions towards meeting our targets and continuing to embed mitigation and adaptation actions in the Group’s Sustainable Design and Operational Standards that are required to be applied to all major projects.
The company recognises the recommendations of the Financial Stability Board Task Force on Climate-related Financial Disclosures (TCFD) and is working to align current and new projects to the framework. As part of progressing this commitment, in the 2019 financial year, the Group conducted a gap analysis to understand its progress to date against the four disclosure categories in the TCFD recommendations. As a result of this analysis, recommendations were identified for future activities to further support the understanding and disclosure of climate-related physical and transition risks and opportunities in accordance with the TCFD recommendations.
INVESTING IN RENEWABLE ENERGY
The Group has commenced plans to reduce its carbon footprint through the way we purchase energy in addition to other emission reduction activities. In FY2019, a power purchase agreement viability assessment was completed and the company is expecting to secure an agreement in the 2020 financial year to ensure a minimum of 25% of the Group’s load is sourced from renewable sources.
SUSTAINABILITY EDUCATION AND ENGAGEMENT
The Group prioritised sustainability engagement in the 2019 financial year by increasing training, workshops and communications. Quarterly Sustainability Team Leadership Workshops were established at The Star Sydney, Treasury Brisbane and The Star Gold Coast, with each of the properties’ Chief Operating Officers in attendance to drive business engagement, innovation and sustainability performance across all work streams.
Through the celebration of domestic and international environmental campaigns such as National Recycling Week and Earth Hour, the Group supported the promotion of recycling and raised awareness of carbon and water reduction targets by providing team members with face to face education.
Sustainability performance is monitored by the Property Sustainability Committees and is governed by the Group Sustainability Steering Committee which continues to report to the Board’s People, Culture and Social Responsibility Committee.
The Star Entertainment Group became a founding partner of the City of Sydney’s Sustainable Destination Partnership and is represented at the Leadership Panel and Technical Working Groups to work collaboratively to increase environmental performance and lift industry standards in sustainability.
Delivering world class properties
The Group focusses on delivering world class properties by committing to voluntary national accreditation programs that measure and report on environmental performance including Green Star and the National Australian Built Environment Rating System (NABERS).
During FY2019, The Star Sydney obtained its first Green Star Performance Rating to assess and benchmark the integrated resort’s baseline operational performance.
The Star Entertainment Group’s refurbished corporate office located at 60 Union Street, Pyrmont, New South Wales obtained its first 5 Star NABERS Tenancy rating to complement the 5 Star Green Star Interiors Rating attained in the 2018 financial year.
Destination Gold Coast Consortium (on behalf of its joint venture partners) continued to work towards its 5 Star Green Star Design and As Built Green Star Rating commitment for the Dorsett hotel and apartments tower, currently under construction on Broadbeach Island, Broadbeach, Queensland.
Destination Brisbane Consortium (on behalf of The Star Entertainment Group and its joint venture partners) continues to focus on its commitments, having achieved a 6 Star Green Star Communities rating for the Queen’s Wharf Brisbane development. Other commitments include the 6 Star Green Star Design & As Built ratings for all new buildings, and Australian best practice sustainability outcomes on the repurposing of existing heritage buildings.
The Queen’s Wharf Brisbane development has progressed significantly with its Communities and Design and As Built Green Star commitments by recycling 100% of the recyclable material from the shoring and excavation and 660,363 tonnes of the non-recyclable material being diverted for reuse on other infrastructure projects around Brisbane including the Auto Mall site at Brisbane Airport and the Trade Coast site.
The Star Sydney has maintained its commitment to achieving a 5 Star Green Star Design & As Built v1.1 rating for the proposed The Ritz-Carlton hotel and apartments tower.