Master Builders releases sustainability report

Master Builders Australia has released its first annual report on the progress made so far towards its Building and Construction Industry Sustainability Goals 2050.

Each of the eight 2050 goals has a 2030 ambition and a plan for the first three years.

In developing the goals, Master Builders Australia has identified measures that are likely to affect business performance and developed actions to minimise the risks and/or maximise the opportunities of these measures through an ESG governance framework.

These measures include working with government and the building supply chain on changes to support the goal for a net zero built environment and participating in reforms to building regulation on priority building resilience issues such as waterproofing and bushfires.

Female participation is also a priority, with Master Builders continuing to work on the Women Building Australia program and advocating to government for greater support. Additionally, it is partnering with a tech platform to provide digital contract management and payment tools, and working with the Office of the Federal Safety Commission to promote better safety outcomes on building sites.

However, these actions are accompanied by significant challenges, according to Master Builders CEO Denita Wawn.

“While there is huge demand for building and construction work, including the commitment of governments to build 1.2 million homes over the next five years, the industry has been battling significant headwinds,” Wawn said.

“Over the last year the industry has grappled with high inflation, chronic labour shortages, higher than anticipated interest rates, compounding changes to industrial relations laws and new building regulations.”

Wawn added that these challenges have seen a reduction in private investment, an ongoing decline in productivity and higher than average insolvencies.

“Mindful of the practicalities of what is happening in the industry, Master Builders is moving at a realistic pace, leading transformation for the long-term benefit of the industry and Australia’s built environment,” she said.

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