Direction
Detail
Contents
- Governance
- The Board
- Board Sustainability Committee
- Executive Management Structure
- Core Values
- Global Sustainability Group
- Sustainability Aspirations
- Business Unit Sustainability Plans
- Sustainability Executives
- Sustainability Policy Framework
- Lend Lease House View (Environment)
- United Nations Principles for Responsible Investment
Lend Lease believes that a sustainable organisation is strategically and culturally committed to achieving economic development, social development and environmental protection.
The transition to being a sustainable organisation therefore requires a commitment to robust governance, empowered management and enabling structures and processes.
Since the release of our first Sustainability Report at the beginning of 2006, we have been working on refining our definition of sustainability, clarifying our vision and establishing a process and structures to measure and report our progress towards becoming a sustainable organisation.
Governance
Lend Lease Directors believe that good corporate governance is fundamental to the long-term prosperity of the Lend Lease Group. The Board continually reviews governance practices to ensure that they promote sustainable value for our shareholders and that they meet our responsibilities to all of our stakeholders.
As a listed Company, we must comply with the Australian Stock Exchange (ASX) Listing Rules, which require us to provide a statement in our Annual Report disclosing the extent to which we have followed the ASX "Corporate Governance Council's Principles of Good Corporate Governance and Best Practice Recommendations".
Our governance structure is presented in the table below and is explained in the following sections.
*Full chart only available in Flash web site
The Board
The main focus of the Board is the long-term success and prosperity of the Group for the benefit of our shareholders, by ensuring we continually deliver strong shareholder value.
The Board has adopted a Charter, which sets out the division of responsibilities between them and our management.
Each Board Committee is also governed by a Charter, approved by the Board, which sets out its objectives, responsibilities, structure and operation.
The Board delegates authority for all matters necessary for the day-to-day management of the Group to the Chief Executive Officer. The Board may alter this division of responsibilities at any time in accordance with the Board Charter, the Constitution and the requirements of any applicable laws.
Limits of Authority have been put in place by the Board for the Chief Executive Officer and Executive Management, and the Chief Executive Officer is accountable to the Board for the authority delegated to other levels of management.
Board Sustainability Committee
The Board established a Sustainability Committee in November 2006.
The role of the Sustainability Committee is to assist the Board in monitoring the decisions and actions of management in achieving our aspiration to be a sustainable organisation.
The Sustainability Committee currently includes three Non-Executive Directors: Julie Hill (Chair), Gordon Eddington and Peter Goldmark.
The Sustainability Committee has the following responsibilities:
Health and Safety
- Oversee the Global Health and Safety performance of Lend Lease
- Review the effectiveness of policies and initiatives designed to ensure the well-being of employees and the workforce
Corporate Social Responsibility
- Review the effectiveness of policies on corporate social responsibility, workplace diversity and equal opportunity
Environment
- Oversee the global environmental performance of the Group
- Review the effectiveness of Group policies and initiatives designed to deliver best-practice environmentally sustainable solutions
Foundation
- Monitor the activities and programmes of the Lend Lease Foundation to ensure that its activities are directed towards opportunities for the development and well-being of Lend Lease employees, their families and the communities in which they work and live
- Review the performance of the Lend Lease Foundation to ensure consistency with sustainability objectives
Compliance
- Assist the Board in its oversight of the Group's compliance with applicable legal and regulatory requirements in relation to environmental matters, socially responsible initiatives, and health and safety issues
Executive Management Structure
Lend Lease executive management believes that if it is not strategically addressing sustainability and challenging each line of business to deal with their area of environmental and social impacts and initiate solutions to make positive contributions, then it won't be in business.
Lend Lease's executive management structure comprises an Executive Office of Group CEO and Group Finance Director, a Corporate Office and an Executive Management Team.
The Corporate Office is comprised of the Executive Office and Group Function Heads and is responsible for organisational effectiveness, corporate governance activities, talent and performance management and the development of our values and culture.
The Executive Management Team is comprised of the Executive Office, the Corporate Office and business stream CEOs. The Executive Management Team is responsible for managing the performance and key business issues in line with our long-term strategy.
In addition to this information, the "Corporate Governance" section of the Lend Lease website by clicking here. This site contains further information on our practices, including key policies and committee charters.
Core Values
The context for our aspiration to become a sustainable organisation is set by the Core Values to which Lend Lease and its employees actively subscribe.
These values are adopted and promoted across all of our businesses around the world. They underpin the way in which we conduct our business, interact with our stakeholders and operate as individuals or teams within the Lend Lease Group. The values also relates to our Code of Conduct, which provides guidance for employees in relation to the standards that the Company expects in the conduct of its operations.
Respect
Respect for all people—their ideas, their culture, their views, their health and safety and their knowledge.
Integrity
Integrity is non-negotiable. We don't do it if it compromises the individual or the company's integrity.
In particular, we will not compromise on safety either within our organisation or in doing business with
any of our clients or suppliers.
Innovation
Challenge and seek to find a better solution, think outside the box and dare to do things differently. Be innovative and creative—don't just do it because we did it yesterday.
Collaboration
Redefine the way our business works by truly sharing knowledge, building on this and drawing insights. Through teamwork we value the insights of others and build on them—we must truly take the time to help.
Excellence
We strive for excellence in all we do. It is evident not only in the products and services we deliver but in how we deliver them. Our employees embody excellence—whether it be in the decisions they make, the products they build or the service they deliver. On construction sites in particular but everywhere, excellence equals zero incidents.
Global Sustainability Group
Lend Lease established the Global Sustainability Group, led by the Global Head of Sustainability in 2006, to lead the corporate sustainability agenda.
The role of the Global Sustainability Group includes:
- Setting environmental and social policy
- Informing strategy
- Monitoring and reporting sustainability performance
- Communicating internal achievements for replication
- Identifying and communicating risks and opportunities, as well as best practice
- Leading and overseeing advocacy relevant to sustainability
- Reporting Environmental Risk and Compliance to Directors
- Connecting key stakeholders and leverage networks
- Making recommendations on improving environmental management
- Identifying environmental and social risks in Investment and Project Pipeline decision-making
- Identifying new business opportunities
- Assisting Lend Lease Ventures in the selection of technology investments and commercialisation
At a strategic level, the Global Sustainability Group has led the work to align our social, environmental and financial goals by identifying Sustainability Aspirations, which provide the objectives and targets for the Business Units, as well as a framework that enables those Aspirations to be achieved.
The Global Sustainability Group is responsible for supporting the delivery of those Aspirations by sharing information and building strong communication networks for and by Sustainability Executives who facilitate and chart progress in meeting the Aspirations using Business Unit Sustainability Plans.
The Global Sustainability Group has also made good progress in embedding sustainability across the businesses globally to ensure it can undertake global environmental, social and governance monitoring and performance reporting.
The first step to being sustainable has been understanding the company's impacts, and the Global Sustainability Group has led the implementation of systems and processes to deliver on the commitment to better understand and address the impact of its operations globally.
Key components have been a Carbon Footprint of the company's global activities and an Eco Footprint, which is now underway.
The Global Sustainability Group has led the development of an online Web-based Management Reporting Tool to provide Lend Lease with a centralised database that holds all metrics reporting data.
The Global Sustainability Group is responsible for publicly reporting the company's performance under the Global Reporting Initiative (GRI) framework, as well as reporting to the leading global sustainability indices: the Dow Jones Sustainability World Index and the Carbon Disclosure Project.
In 2007 the Global Sustainability Group developed the "What is Sustainability at Lend Lease" presentation, which sought to define what sustainability means to us. The presentation was delivered to employees across the organisation in more than 450 locations during 2007, and it is still used today to enable employees to familiarise themselves with our sustainability messages.
During 2008 the Global Sustainability Group also developed the Lend Lease View, a document intended for internal purposes, outlining the corporate position on a range of environmental policy areas.
Externally, the Global Sustainability Group has a significant role in leading the company's advocacy activities on a number of these areas, as well as broader sustainability-related policy areas.
Any sustainability issues considered to be of strategic corporate significance and likely to impact on corporate sustainability advocacy strategies are to be provided to the Global Head of Sustainability for consideration.
The Global Head of Sustainability reports to the Corporate Office, the Executive Management Team and the Lend Lease Board.
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