Despite unpredictable economic and social conditions created by the global pandemic, REA Group has remained committed to its Environment, Social and Governance (ESG) obligations, adopting new technology and innovation to continue positive forward progression.
According to the REA Group’s 2021 Sustainability Report, the business continued to evolve throughout the turbulent financial year, with a number of pivotal investments in new companies helping to accelerate its strategy.
These included Elara (now REA India) in India, as well as Realtair, CampaignAgent, PropertyGuru, Simpology, and Mortgage Choice.
“The world has changed considerably in the last year,” REA Group Chief Executive Officer Owen Wilson said.
“Our commitment to responsible and sustainable business practices underpins all our decisions and these investments will contribute to REA’s growth into the future.”
“I am proud of the way REA’s people have responded to the changing needs of our stakeholders during the pandemic, while also accelerating our growth and delivering value for customers, consumers and shareholders.”
Environmental achievements
REA Group achieved carbon neutral certification from the Australian Government’s Climate Active program, according to the report.
The group’s FY21 carbon footprint was 6331 tonnes of carbon dioxide equivalent (tCO2e), which is a three per cent reduction on FY20, including the footprint from its newly acquired REA India business.
“Since we published our first climate change policy, we have become certified carbon neutral, reduced our carbon footprint in Australia and Asia (excluding REA India) by 20 per cent and increased our MSCI ESG rating from BBB to A in FY21,” Mr Wilson said.
“We have also increased our focus on supporting customers and consumers to reduce their impact on the environment with the publication of sustainability content including the REA Insights Energy Efficiency Housing Report.”
Health and wellbeing
The REA Group also expanded its wellbeing program in response to the global pandemic.
This included a wellness profiler questionnaire to baseline its people’s health and wellbeing, introducing mental health first aiders, a virtual wellness menu of activities and a mental health conversation model for people leaders.
“The increased focus on the health, safety and wellbeing of our people in a largely virtual working environment has contributed to a significant increase in positive sentiment from our teams with global engagement at 84 per cent,” Mr Wilson said.
Engagement in Australia increased six per cent to 84 per cent, while engagement in Asia increased three per cent to 81 per cent.
Governance
Mr Wilson said good governance was essential to protect and enhance the long-term performance and sustainability of REA.
“We have further strengthened our resourcing in cyber security and risk,” Mr Wilson said.
“The ongoing pandemic has tested our business continuity plans and practices, and we have received very positive feedback from our people and our customers on the support REA has provided.”
Community investment
The REA Group team was recognised as the top fundraising workplace in the Sudsy fundraising event raising over $16,000, the report revealed.
“REA’s community efforts continue to be focused on supporting organisations addressing the issue of homelessness,” Mr Wilson said.
“Aligned with our purpose, we believe everyone deserves a place to sleep every night and we’re proud to extend our financial and in-kind support to Launch Housing, Orange Sky Australia and The Big Issue.”
In FY21 REA’s community partnership with Orange Sky Laundry resulted in 23,890 kg of laundry, 1194 safe, warm showers and 2389 hours of conversation between Orange Sky volunteers and people experiencing homelessness, the report said.
Diversity and inclusion
Globally, 50.6 per cent of REA Group’s employees identified as male and 49.4 per cent identified as female.
The executive leadership team is 44 per cent men and 56 per cent women.
“We have employed a diversity and inclusion specialist to evolve our Diversity in Tech program into the future,” the report said.
To view the full 2021 Sustainability Report, click here.
