Climate Statements 2024

Climate Statements 2024
Fletcher Building Limited

Message from the Acting Chair and Managing Director
Fletcher Building is pleased to present our inaugural Climate Statements, prepared in accordance with the
Aotearoa New Zealand Climate Standards.
These statements provide an overview of our approach to climate-related risks and opportunities, our
governance structures, and our strategic response to the evolving landscape shaped by climate change.
Our purpose of "improving the world around us through smart thinking, simply delivered" and our
values of "Protect", "Be Bold", "Customer Leading", and "Better Together" underpin our commitment to
sustainability and climate action. These values guide us as we navigate the challenges and opportunities
presented by climate change.
In looking to adapt our business to be more resilient to climate change, we have benefitted from ongoing
analysis of our physical climate-related risks and impacts, which we began in FY20. This analysis shows
that the current and expected future impact is relatively moderate, and the key exposure to manage
across the Group arises from flooding. We anticipate that transition risks and opportunities may be more
significant for our business. In regard to mitigation, we are actively working to reduce our emissions, with
a focus on our cement operations, electricity use in Australia, and process heat and transport in New
Zealand. Our '30 by 30' Science-Based Target to reduce Scope 1 and 2 GHG emissions by 30% by 2030
from a 2018 baseline underscores our commitment.
We have made progress against this target, and our combined Scope 1 and 2 GHG emissions for FY24 are
19% lower than the FY18 baseline. However, we recognise there is much more to do. We have also made
progress towards developing our Transition Plan which outlines key focus areas, including the emissions
reductions described above, developing lower carbon products and services, and enhancing our
resilience and adaptation to climate risks.
We continue to invest in sustainable, local manufacturing, with over $800 million invested in productive
assets and sustainable manufacturing in New Zealand, Australia, and across the Pacific over the past five
years. Key initiatives include:
• Laminex® New Zealand's $350 million Taupō plant expansion in progress, set to begin production in
late 2026 and expand our provision of wood-based products into the market.
• PlaceMakers® Frame & Truss's redevelopment of an Onehunga manufacturing site, enhancing
efficiency and increasing local production capacity for structural wood products.
• The completion of Winstone Wallboards® $400 million new GIB® plant, which is expected to deliver
a 13% reduction in CO2e emissions per square metre of board produced compared with the old
Auckland plant. This new plant includes onsite recycling and reuse of process wastewater, plus
innovative technology providing the capability for waste plasterboard recycling.
• The completion of LowCO™, our sustainable homes of the future project, which demonstrates how to
reduce lifetime carbon emissions in residential construction consistent with a 1.5 degree future.
• Our ongoing efforts to reduce process heat derived from coal with lower carbon biomass and waste
end-of-life tyres in our cement operations.
Transparency and collaboration are crucial as we navigate the complex challenges arising from climate
Fletcher Building Limited Climate Statements 2024
2

Barbara Chapman
Acting Chair,
Fletcher Building Limited
Andrew Reding
Managing Director and CEO,
Fletcher Building Limited
change. We are engaging with our suppliers, customers, and other stakeholders on climate-related
matters. We're also investing in innovation to develop more sustainable building solutions and contributing
to industry-wide efforts to decarbonise.
The construction and building materials sector has an important role to play in addressing climate
change. As we work towards our Net Zero by 2050 goal, we remain committed to balancing the needs
of our business, our customers, and the environment. We believe that by embracing the challenges and
opportunities presented by climate change, we can create long-term value for all our stakeholders while
contributing to a more sustainable future.
We invite you to review our Climate Statement and join us on this critical journey towards a low-carbon,
resilient future for our industry and for Aotearoa New Zealand.
Fletcher Building Limited Climate Statements 2024
3

Contents
Message from the Acting Chair and Managing Director 2
About Fletcher Building 5
Reporting entity 5
Reporting period and currency 5
Statement of compliance 6
NZ CS 2 Adoption Provisions used in these Climate Statements 6
Our governance of climate-related risks and opportunities 8
How climate-based targets are set, and how risks and opportunities are considered 9
Management’s role in assessing and managing climate-related risks and opportunities 10
Strategy 12
Current climate-related physical impacts and financial impacts 12
Current transition impacts 13
Risk Management 14
Scenario analysis 15
Time Horizons 16
The scenarios at a glance 17
Physical risks and opportunities 20
Transition risks 21
Our Transition Plan 22
Transition Plan 22
Integration of our Transition Plan into capital deployment and decision-making 26
Metrics and Targets 28
Appendices 32
Appendix A: Detailed Physical Risk findings 32
Appendix B: Summary of Transition Risks 33
Appendix C: Summary of Transition Opportunities 36
Appendix D: Methodology used for Greenhouse Gas (GHG) emissions 38
Appendix E: Data sources used for the three scenarios 40
Cautionary statement 42
Fletcher Building Limited Climate Statements 2024
4

About Fletcher Building
Fletcher Building is a manufacturer, retailer, home builder and partner on major construction and
infrastructure projects.
Fletcher Building operates diversified businesses across our core markets of New Zealand and Australia,
from resource extraction, product manufacturing and distribution through to property development and
infrastructure construction.
Fletcher Building is dual listed on the NZX and ASX, and operates through six divisions – Building
Products, Distribution, Concrete, Australia, Residential and Development, and Construction.
Fletcher Building’s objective is to deliver leading building materials and customer solutions in the New
Zealand and Australian markets, which is driven by the key focus areas below. For more details about
Fletcher Building and our work in sustainability, including performance data, see our website https://
fletcherbuilding.com/.
A place where
the belief that
‘all injuries are
preventable’
is possible,
together we work
to send each of
our people home
safely, every day.
SAFETY
Relentless focus
on providing more
of the products,
services and
solutions our
customers love.
CUSTOMER
A culture
of inclusive
and diverse
workplaces, where
people feel a sense
of belonging and
can reach their full
potential.
CAPABLE
& HIGHLY
ENGAGED
PEOPLE
Well run
businesses that
are disciplined on
cost and profitable
with good margins
as we perform
through the cycle
of our industry.
OPERATIONAL
& FINANCIAL
PERFORMANCE
Decarbonising,
minimising waste
and continually
innovating to pro-
duce better, more
sustainable products
and homes.
SUSTAINABILITY
Investing in
sustainable
business and the
next generation of
building products
and services for
our local markets.
INNOVATION
& GROWTH
Reporting entity
These Climate Statements are the group climate statements for Fletcher Building Limited and its
subsidiaries.
When used in these statements, references to the ‘Company’ are references to Fletcher Building Limited.
References to ‘Fletcher Building’, ‘we’, ‘our’ or the ‘Group’ are to Fletcher Building Limited together with
its subsidiaries and, where relevant, its interests in associates and joint ventures.
These Climate Statements relate to our continuing operations, and in all cases exclude Tradelink
operations unless otherwise stated. Fletcher Building completed the sale of 100% of the shares in
Tradelink, previously the Company’s Australian plumbing supplies and distribution business, on 30
September 2024.
The scope of the reporting entity aligns with that used in the Group’s 2024 consolidated financial
statements.
Reporting period and currency
These Climate Statements have been prepared for the financial year ended 30 June 2024 (FY24). All
references to financial years are to the financial year ended 30 June. References to $ and NZ$ are to
New Zealand dollars unless otherwise stated. Information, including metrics, has been stated on the basis
of our continuing operations and excludes Tradelink unless otherwise stated.
Fletcher Building Limited Climate Statements 2024
5

Statement of compliance
These Climate Statements are the Company’s first climate-related disclosures under the Aotearoa New
Zealand Climate Standards (NZ CS), comprising NZ CS 1: Climate-related Disclosures (NZ CS 1), NZ CS 2:
Adoption of Aotearoa New Zealand Climate Standards (NZ CS 2) and NZ CS 3: General Requirements for
Climate-related Disclosures (NZ CS 3).
These Climate Statements have been prepared in compliance with the requirements of the NZ CS. In these
Climate Statements, the Company has elected to apply the NZ CS 2 adoption provisions detailed below.
NZ CS 2 Adoption Provisions used in these Climate Statements
In recognition that it may take time to develop the capability to produce high-quality climate-related
disclosures, and that some disclosure requirements, by their nature, may require an exemption,
NZ CS 2 provides a limited number of adoption provisions from the disclosure requirements in Aotearoa
New Zealand Climate Standards.
The NZ CS 2 Adoption Provisions which have been used by Fletcher Building in the preparation of these
Climate Statements are:
Adoption provision 1: Current financial impacts
This adoption provision provides an exemption from disclosing the current financial impacts of the
physical and transition impacts identified and from disclosing an explanation of why the Company is
unable to disclose this information (if applicable). In these Climate Statements, we have not identified or
included the current financial impacts of transition risks.
We have provided an assessment of the current financial impacts of physical risks to assets under our
direct control. This assessment, however, excludes assets of construction projects, and assets held
by joint ventures or associates where the Group has joint control or significant influence. Additionally,
we have not assessed the current financial impacts of physical risks associated with critical external
infrastructure and transport networks that our operations depend on, such as power grids or supply
chains. These exclusions reflect the complexities involved in assessing indirect impacts and the evolving
nature of climate risk assessment methodologies.
Adoption provision 2: Anticipated financial impacts
This adoption provision provides an exemption from disclosing the anticipated financial impacts of
climate-related risks and opportunities reasonably expected by the entity and from disclosing an
explanation of why the Company is unable to disclose this information (if applicable). It also provides an
exemption from disclosing a description of the time horizons over which the anticipated financial impacts
of climate-related risks and opportunities could reasonably be expected to occur.
Consistent with adoption provision 1, we have provided an assessment of the anticipated financial impacts
of physical risks for assets under our direct control. This assessment, however, excludes assets held
by joint ventures or associates where the Group has joint control or significant influence. We have not
provided an assessment of anticipated financial impacts of transition risks.
Adoption provision 3 – Transition planning
This adoption provision provides an exemption from disclosing the Transition Plan aspects of an entity’s
strategy, including how its business model and strategy might change to address its climate-related risks
and opportunities. In these Climate Statements we describe the current work towards developing our
Transition Plan, and the aspects of the Transition Plan that require further work to be fully developed.
Fletcher Building Limited Climate Statements 2024
6

This adoption provision also provides an exemption from disclosing the extent to which Transition Plan
aspects of its strategy are aligned with its internal capital deployment and funding decision-making
processes. In these Climate Statements, we note our general approach and progress to date on aligning
capital deployment with our Transition Plan, although further work is required to align such processes as
we continue to develop our Transition Plan.
Adoption Provision 4: Scope 3 GHG emissions
This adoption provision provides an exemption from disclosing Scope 3 Greenhouse Gas (GHG) emissions
in an entity’s first reporting period.
We have provided Scope 3 GHG emissions for all GHG Protocol Supply Chain Categories other than the
GHG Protocol Supply Chain Categories Use of sold products, Downstream leased assets, and Processing
of sold products.
Adoption provision 6: Comparatives for metrics
This adoption provision provides an exemption in an entity’s first reporting period from disclosing
comparative information for the immediately preceding two reporting periods. We have provided
comparative information for Scope 1, 2 and 3 Greenhouse Gas (GHG) emissions, and emissions intensity
for Scope 1 and 2 GHG emissions in these Climate Statements. We have not provided comparative
information for other metrics in these Climate Statements.
Adoption provision 7: Analysis of trends
This adoption provision provides an exemption in an entity’s first reporting period to provide an analysis
of the main trends evident from a comparison of each metric from previous reporting periods. We have
provided an analysis of the main trends from a comparison of our Scope 1, 2 and 3 GHG emissions in these
Climate Statements. We have not provided an analysis of main trends for other metrics in these Climate
Statements.
On behalf of the Board, 22 October 2024.
Barbara Chapman
Acting Chair,
Fletcher Building Limited
Cathy Quinn
Director
Chair, SHES Committee
Sandra Dodds
Director
Chair, Audit and Risk Committee
Fletcher Building Limited Climate Statements 2024
7

Our governance of climate-related risks and opportunities
Overall Governance
The Fletcher Building board of directors (the Board) is committed to the long-term resilience of Fletcher
Building and is responsible for the overall strategic direction of the Group’s climate and sustainability
governance, including the oversight of climate-related risks and opportunities. The Board charter states
(inter alia) that the Board is responsible for overseeing Fletcher Building’s commitment to sustainable
development, the environment, and health and safety of its people. The Board approves the Sustainability
Policy and sustainability related targets, the Risk Management Policy, and the annual GHG emissions
reporting in the Group’s Annual Report.
The Board has specifically delegated responsibility for climate-related matters to the Audit and Risk
Committee (the ARC), and the Safety, Health, Environment and Sustainability Committee (the SHES
Committee). This facilitates the regular monitoring of financial and non-financial risks associated with
climate-related matters. Both committees are guided by their respective charters (available in the
Corporate Governance section of on the Fletcher Building website).
Oversight Committees
Both the ARC and the SHES Committee meet no fewer than four times per year.
The ARC oversees that risks (including climate-related risks) are managed in accordance with Fletcher
Building’s Risk Management Policy. It also maintains oversight of Fletcher Building’s Risk Register and
reviews it regularly with management to track existing risks and the emergence of new risks twice a year,
and additionally as required by the Board. Emissions performance and review of the Group’s progress
against its carbon reduction roadmap, which is a key component of Fletcher Building’s Transition Plan, are
reported at least twice per year to the SHES Committee. Climate-related risks are reported as an output of
physical analysis approximately every two years.
The Climate Statements will be reviewed annually by the Board, the ARC, and the SHES Committee.
Risk summaries and the updates relating to the New Zealand Emission Trading Scheme (the ETS) are
typically reported to the ARC at least annually. In addition, climate-related risks with a business unit level
impact are assessed as part of the business resilience key risk categories approximately every two years.
The SHES Committee is responsible for Fletcher Building’s sustainability strategy and is also responsible
for assessing, actioning and driving environmental, social and governance (ESG) issues, reviewing
performance and considering the long-term sustainability strategy. The SHES Committee reviews Fletcher
Building’s annual GHG Emissions Inventory and reviews the Group’s environment, health and safety (EHS)
policy biennially.
The Chairs of each committee provide report back sessions with the full Board on matters discussed in
each committee meeting.
Skills and Competence
Climate change considerations are integrated into the Board's skills assessment process.
The Board continues to expand its climate-related expertise through targeted education sessions. In
April 2024, the Board participated in an externally facilitated in-depth exploration of regulatory, legal
and practical aspects of current and forecast climate-related risks and opportunities. The Board actively
seeks and receives internal and external expertise and advice related to climate-related risks as required.
Ongoing education, along with regulatory and market updates, is regularly provided to the ARC and the
Fletcher Building Limited Climate Statements 2024
8

SHES Committee members during committee meetings. Additionally, the Board’s climate capability is
strengthened through individual directors’ experiences on boards of other climate reporting entities.
The Board has adopted a skills matrix which takes account of the breadth of the Group’s business interests
and the nature of the Group’s strategic focus. For FY23 and FY24, the Board's functional expertise skills
matrix has been expanded to include the category of “environmental, social and governance”, which
includes climate-related matters. An assessment of the Board against this skills matrix is included on page
53 of the Group’s FY24 Annual Report and in in the Group’s other Annual Reports, which are available at
https://fletcherbuilding.com.
The People and Remuneration Committee (the PRC) supports the Board in setting climate-related matters
within short term incentive (STI) frameworks for relevant members of the executive team (which are then
incorporated in other management STIs as appropriate). Achievement of executive STI performance is
reviewed by the PRC annually for those executives with climate-related STI objectives. The Board assigns
climate-related goals and targets to management annually via agreed strategic objectives, and climate-
related STI objectives for relevant executives.
How climate-based targets are set, and how risks and opportunities are
considered
Fletcher Building’s emissions reduction target was set and verified in December 2019 in accordance with
the Science-based Targets Initiative (SBTi) process for setting targets in line with a ‘well-below 2 degrees’
future. SBTi looked at the impact across the Group’s sectors of operation as part of setting the target,
which is to achieve a 30% reduction in Scope 1 and Scope 2 GHG emissions by 2030 from a 2018 baseline.
In FY22, Fletcher Building reviewed the Sustainability Strategy for the business and assessed sustainability
goals and targets. This review of the strategy was informed by the physical and transition risk and
opportunity analysis undertaken in FY22, and the refreshed strategy included goals to increase the
provision of sustainably certified and lower carbon products and services as a strategic goal, and to set a
long-term goal of net zero emissions by 2050.
Progress against climate-related goals is reported to the SHES Committee.
Climate-related physical risks and transition risks and opportunities are reported to the ARC.
Physical risks are considered as part of long-term asset management plans and investment strategies for
the business.
Transition risks, such as the impact of carbon pricing on operational costs, and transition opportunities,
such as market demand for more sustainable products and services, are also considered within asset
management and investment strategies and other capital deployment decisions, as further described
in the ‘Integration of our Transition Plan into capital deployment and decision-making’ section of these
Climate Statements.
No physical climate-related opportunities have been identified to date, and no formal review of these has
been undertaken by the Board.
Fletcher Building continues to embed climate considerations into its strategy and operations, as
illustrated below:
• Fletcher Building’s GHG emissions have been published since 2008, and from 2018 these have been
audited, which has covered the basis of calculation, methodology applied, exclusions, targets, and
re-baselining.
Fletcher Building Limited Climate Statements 2024
9

• In 2020, through Aon New Zealand, Fletcher Building completed a physical risk assessment of its
assets to impacts from climate change, which was repeated in 2022. Both assessments were based
on a Representative Concentration Pathway (RCP) 8.5 worst-case scenario and pointed to modest
risk exposure from climate stressors.
• In 2022, Fletcher Building undertook a high-level internal assessment of transition risks and
opportunities expected to arise over the three to ten year horizon, from which key risks and
opportunities were publicly disclosed.
• In 2023, the Group’s Risk Framework was externally reviewed by a third-party consultant, including
a review of the governance and processes for assessing climate-related risks and opportunities. The
framework was noted as fundamentally sound. The Group is currently progressing and implementing
the proposed amendments from that review.
• Also in 2023, Fletcher Building participated in a New Zealand Green Building Council (NZGBC) work
stream to develop climate scenarios for the construction and property sectors in New Zealand. This
work stream also included a broad assessment of climate-related risks and opportunities for the
sector.
• These scenarios were discussed and agreed with the ARC as the basis for assessing physical and
transition risks and opportunities.
• In 2023 and 2024, building on this foundation, through Aon New Zealand, Fletcher Building
conducted further scenario analysis, leveraging the developed scenarios specific to its operations.
This analysis focused on identifying both physical and transition risks and opportunities relevant to
the Group. This entailed educating and engaging various divisions to understand and provide input
on the impacts, risks, and opportunities related to climate change.
• With these scenarios as the basis, subject matter experts across our New Zealand divisions and
relevant Group functions attended workshop sessions on transition risks and opportunities to inform
consideration of impacts in their business unit, and form the prioritised list of transition risks and
opportunities in these Climate Statements.
• A summary of this detailed analysis was presented to the Board to consider and inform future
decision making. Subsequent sections of these Climate Statements provide an overview of the
scenario analysis methodologies employed and the specific risks and opportunities identified for
Fletcher Building.
• In May 2024, the ARC approved a Carbon Pricing Framework which introduces an ‘internal cost of
carbon’ to be considered and incorporated within the Group’s capital investment decision-making
process. The purpose of this is to support the effective evaluation and prioritisation of investments
that also materially impact the carbon footprint of the Group or any of its business units, and support
the alignment of the Group’s capital investment strategy with its sustainability goals and strategy.
• The Group continues to innovate its operational processes to deliver value to its customers and
reduce the unfavourable impact these may have on climate change, including presenting divisional
updates on climate reduction progress and future initiatives to the SHES Committee. Innovation
can be seen in the Board’s support of several carbon reduction initiatives, with the most significant
examples being support of coal reduction projects for our cement operations, rooftop solar
initiatives and the purchase of renewable electricity in Australia; transitioning our Construction diesel
fleet to hybrid vehicles; and continued investment and work in water management and recirculation
across select sites.
Management’s role in assessing and managing climate-related risks and
opportunities
The executive team has the highest management-level responsibility for identifying, assessing and
managing climate-related risks and opportunities. Supported by the Climate Reporting Working Group
(CRWG), the executive team report to the Board on the climate-related impacts on the business and are
responsible for implementing the sustainability strategy within their teams and respective business units.
This includes the integration of climate transition, mitigation plans and initiatives into 5-year divisional
plans, and capital allocation reviews, which are then considered and discussed through the Group’s annual
budget planning processes and monthly operational reviews.
Fletcher Building Limited Climate Statements 2024
10

The executive team are also responsible for confirming that business units are appropriately identifying,
assessing and monitoring climate-related risks and opportunities in accordance with our Risk Management
Policy and Sustainability Policy, including assessing and reporting the asset value or percentage
exposed to physical climate-related risks. The Chief Financial Officer (CFO) and the Chief People and
Communications Officer (CPO), as functional management leads for the ARC and the SHES Committee
respectively, have management co-accountability for the Fletcher Building’s annual Climate Statements.
The Group’s Climate Statements are prepared by the CRWG, and assessed and reviewed by the members
of the ARC and SHES Committees prior to being endorsed for approval by the Board. The CRWG
comprises representatives from Fletcher Building’s Communications, Risk, Governance, Sustainability,
Investor Relations, and Finance teams.
Reporting to peers/market
Fletcher Building provides disclosures on climate-related matters throughout the year to the market, its
customers, insurers and shareholders. Formal reporting on these matters occurs through the Group’s
financial filings, financial results presentations, investor days, insurance presentations, and at Fletcher
Building’s Annual Shareholders’ Meeting (ASM). Climate-related matters are discussed directly as part of
investor and insurer meetings through the year. Regular dialogue with peers, policymakers, and external
advisors is undertaken in order for our practices, processes, and frameworks to remain current.
Fletcher Building Limited Climate Statements 2024
11

Strategy
Current climate-related physical impacts and financial impacts
Climate-related physical impacts have been assessed for our business. The assessment included analysis
across all ~780 Fletcher Building sites, with an insured asset value of $9.1 billion (expressed on the basis of
material damage, and excluding business interruption).
Climate-related physical exposure
The assessment showed that the key exposure identified for Fletcher Building assets across the portfolio is
from flooding which is primarily rainfall driven, but there are also exposures to river and coastal flooding.
The exposure from direct sea level rise is limited.
The assessment shows the flood exposure (current day) is expected to be relatively modest. There are 69
sites across the Group showing High or Very High flood exposure, for at least some proportion of the site
including non-critical areas. 45 of the 69 sites are in New Zealand with an asset value of $274 million and
the remaining 24 are Australian sites with an asset value of $773 million. We note that the values given
here are asset values for flood exposure, and should not be interpreted as an assessment of potential
flood impact.
Climate-related physical impact
We have completed a granular analysis of potential flood impact for our New Zealand asset base in FY24,
and intend to complete a granular level analysis for Australian assets in FY25.
Material physical impacts were not experienced in FY24, but were experienced in FY23.
During FY23, the impact from Cyclone Gabrielle and North Island Floods in New Zealand experienced by
our operations was consistent with the levels of exposure and loss indicated by the modelling described
above. The assets impacted were those identified above as being exposed to high or very high flood
exposure. The impact amounted to $21 million for property damages and direct remedial works. This
includes impairment of property and plant, rectification of damage and remediation of leased assets, and
write-down of inventory.
The impacts assessed above for our New Zealand asset base are expressed as impacts without mitigation,
and as part of our Transition Plan we will review and assess appropriate mitigation for New Zealand and
Australian assets based on this analysis of exposure and impact.
Fletcher Building Limited Climate Statements 2024
12

Current transition impacts
We consider the most material current drivers of transition impacts to be changes in current regulations,
as well as customer, supplier, shareholder and competitor behaviour. These changes are informing our
current business planning processes and strategic reviews.
The key transition impacts we are experiencing from these drivers, along with Fletcher Building’s current
strategic response, are included in the table below.
Due to the complexity of assessing the transition component of broader business impacts that also
encompass transition impacts, we have not quantified these impacts at this time.
Our anticipated transition risks and opportunities are included in Appendix B and Appendix C.
Currently, under NZ CS Adoption Provisions 1 and 2 we have not provided the current or anticipated
financial impact of transition risks or opportunities. We will provide this in future Climate Statements.
Transition impactsStrategic response
Policy and regulatory changes, including
carbon pricing policies that disincentivise
local manufacture or incentivise imports
of more carbon-intensive products
by competitors. Policy and regulatory
changes including carbon pricing that limit
investment in reducing carbon emissions
due to increased operational costs up the
value chain.
Fletcher Building regularly engages with regulators and ministers on
climate-related matters. The Group is monitoring regulatory changes to
the ETS and other carbon pricing mechanisms on an ongoing basis, and
engages with industry groups and central government on these changes.
Regular financial projections are undertaken to understand cost
implications of potential regulatory changes to the business.
Potential loss of market share to lower
carbon competitor products, if consumer,
client and investor expectations on
sustainable innovation are not met.
Fletcher Building has committed to achieving our ‘30 by 30’ Science
Based Target (SBT). The Group also has targets to increase the revenue
from sustainable products year-on-year.
Market risks are assessed both at operational and corporate levels with
significant risks addressed in the business strategy. The risks of not
providing low carbon products or building solutions are included in the
Group business strategy processes.
Early introduction of products or services
by competitors that have (or are perceived
to have) better environmental performance
or credentials
Fletcher Building regularly scans for comparable disruptive products
globally and plans to introduce appropriate products into the market
as an early mover. Fletcher Building has a central Innovation Team that
supports business units to identify low carbon products and sustainability
innovations.
Greater financial costs to the business
and ultimately to end users if alternative
renewable energy sources for processing
are difficult to access.
Alternative processing technology is being developed with a focus on
manufacturing and processing, particularly in the cement business,
where initiatives include the use of end-of-life tyres as a source of fuel in
place of coal.
Changes in pricing policies for energy sources happens incrementally
over time, allowing Fletcher Building to prepare and plan for cost
implications and reduce end costs to customers.
In Australia, Fletcher Building regularly reviews energy costs and market
trends, and forward purchases electricity, including renewable electricity,
to insulate the business from cost/ supply shocks. A proportion of supply
is for renewable energy.
In New Zealand, this risk is reduced through hedging and other risk
mitigation strategies.
Reduction of attractiveness to stakeholders
including investors, shareholders, and
insurers resulting in reduced capital
availability impacting on value, if perceived
as a high carbon emitter.
Fletcher Building has public carbon reduction commitments and has
initiatives in place to address the major sources of emission, which are
publicly reported.
The Group engages with key sustainability networks and is increasing
its communication to investors and customers about the various
sustainability initiatives and programmes it has available to the market.
Fletcher Building Limited Climate Statements 2024
13

Risk Management
Fletcher Building's Risk Management Framework is aligned with ISO31000: 2018 Risk Management –
Principles and Guidelines standard. The purpose of the risk management framework is to identify, assess,
control, monitor and report the key risks we face so that the Group can achieve its objectives and protect
its staff, customers and reputation. The framework provides a consistent structure for risk management
and is aligned with Group strategy.
Responsibility for operational risk management sits with the managers in the individual business units and
the divisional chief executives.
Our risk management and assurance processes support this through our Group functions and are
ultimately overseen by the Board and the Executive Leadership Team. A dedicated internal audit team
takes a risk-based approach to auditing key business activities and reports directly to the Audit and Risk
Committee (ARC).
Climate-related risks are assessed as part of our overall risk management process, with detailed scenario
analysis of physical climate impacts
1
and risks conducted as a stand-alone assessment in FY20, FY22 and
FY24, and a series of workshops and reviews to assess transition risks using the same scenarios carried out
in FY24.
The scenario analysis process and outcomes were overseen by the Group’s CRWG, which includes the
Group’s Risk team, to facilitate the integration of outcomes of the scenario analysis into the overall risk
management process, including providing high level information to insurers on climate-related risks at
least annually as part of our insurance renewal process.
Risks relevant at Business Unit or site level are discussed as part of the business unit and divisional
assessment of risks, which is facilitated by the Group’s Risk team. All operational business units have
General Managers (GM) and Senior Leadership Teams (SLT) who are accountable for implementing risk
management processes to manage key risks for that business. GMs and the SLT of each business unit are
responsible for maintaining a business unit level register for key risks.
Climate-related physical risks with a significant site impact for a business unit will generally be included
under the Business Resilience risk category and will also inform our business continuity planning.
Where relevant at business unit level, transition risks will form part of the risk assessment under the Legal
and Stakeholder key risks.
This process allows us to prioritise climate-related risks alongside the prioritisation of other risks within
business unit risk registers.
A total of 27 risk workshops were held with the individual business unit leadership teams in FY24. These
workshops are a key component of Fletcher Building’s risk management approach and assist in developing
a bottom-up reporting process. Additionally, the risk workshops process supports the individual business
units’ leadership teams in considering whether appropriate risk management strategies are being
pursued.
At an enterprise level, we assess both physical and transition risks across Fletcher Building and report on
the asset values impacted by climate-related physical risks.
1
Scenario analysis conducted to date focuses on risks and impacts to our direct operations in New Zealand and Australia. The
scenario analysis did not include the full value chain, and therefore there are likely to be some supply chain dependencies that have
not been assessed. The analysis did not include detailed analysis of New Zealand or Australian based joint ventures or associates
where Fletcher Building has joint control or significant influence. These will be included in future scenario analysis based on an
assessment of their materiality to our business operations.
Fletcher Building Limited Climate Statements 2024
14

Scenario analysis
Fletcher Building engaged Aon to assess the physical risk posed by climate change, with assessments
conducted in FY20, FY22 and FY24.
These three scenario assessments were stand-alone assessments, with key risks identified from the
scenario analysis integrated into the overall strategy for the business through including them in Group
level, business unit and divisional risk reviews. The scenarios were used for the assessment of both
physical and transition risks and opportunities.
For FY24, three scenarios were assessed for Fletcher Building. The scenarios were based on the New
Zealand Green Building Council (NZGBC) ‘Climate Scenarios for the Construction and Property Sector’.
The NZGBC scenarios were developed with participation from a range of industry and other stakeholders,
including building portfolio owners and managers, property developers, construction companies, building
product manufacturers, building design consultancies, representatives from the insurance and banking
sectors, and public sector entities. Fletcher Building participated in the development of the NZGBC
scenarios, with representatives on both the Leadership Group and Technical Working Group during
development of the scenarios.
The NZGBC scenarios were then discussed with the ARC, and by agreement downscaled for Fletcher
Building using Aon’s Combined Hazard Information Platform (CHIP) model for the Group’s assets and
regions of operation. The three scenarios were:
• ‘Orderly’ scenario (1.5°C) where decarbonisation policies are enacted immediately and smoothly.
Whole of life carbon emission reductions requirements for buildings is at 90% by 2050. The data for
this scenario is sourced from downscaled NIWA projections from IPCC AR5 and is aligned to RCP2.6.
Once downscaled data for IPCC AR6 is available, this scenario will align to Shared Socioeconomic
Pathways (SSP) 1-1.9.
• ‘Disorderly’ scenario (<2°C) where significant decarbonisation is delayed until 2030, leading to
global warming being limited by 2100. The sector faces high transition risks and costs after 2030 as
entities rush to decarbonise. The data for this scenario is sourced from downscaled NIWA projections
from IPCC AR5 and is aligned to RCP2.6. Once downscaled data for IPCC AR6 is available, this
scenario will align to SSP1-2.6.
• ‘Hot House World’ scenario (>3°C) where global warming reaches more than 3 degrees above
pre-industrial levels by 2100. No further decarbonisation policies are enacted. Emissions continue
to rise, and the sector faces limited transition risk, but extreme physical risk. This scenario, and the
assessments in FY20 and FY22, align to RCP 8.5 and SSP3.
Physical risk modelling specific to Fletcher Buildings assets and key infrastructure links was conducted by
Aon using the three scenarios outlined here, and data from global Ambiental flood layers, Aon’s bespoke
CHIP model (which provides specific exposure and vulnerability data), NIWA rainfall intensity projections,
NIWA climate projections, and Australian Bureau of Meteorology sea-level rise and rainfall projections.
Limitations of the scenario analysis
For this initial scenario analysis, we focused on risks and impacts to our direct operations in New Zealand
and Australia. The scenarios analysis included Fletcher Building assets and a limited number of key
infrastructure links. The scenario analysis did not include the full value chain, and therefore there are likely
to be some supply chain dependencies that have not been assessed. These will be included in future
scenario analysis based on an assessment of their materiality to our business operations. The analysis
did not include analysis of New Zealand or Australian based joint ventures or associates where Fletcher
Building has joint control or significant influence. These will be included in future scenario analysis based
on an assessment of their materiality to our business operations.
The New Zealand joint ventures and associates that were not included in this initial assessment represent
Fletcher Building Limited Climate Statements 2024
15

<1.5% of the total assets of Fletcher Building, and the majority are Tier 2 or Tier 3 assets.
Detailed analysis of Australian joint venture assets was not conducted because, while downscaled data for
our regions of operation in New Zealand was available for FY24, downscaled data for all of our regions of
operation in Australia was not available. Australian joint ventures represent circa 1% of the total assets of
Fletcher Building.
The scenarios used are limited by the information available at the time, and the assumptions made about
future states. They are not intended to be probabilistic or predictive. Their intended use is as a tool to
support strategic planning by providing a view of multiple plausible future states.
The data sources used in preparing Fletcher Building’s three scenarios are set out in Appendix E.
Time Horizons
Physical risk assessment
Time horizons for the physical risk assessment were:
• Short-Term: Present–2030
• Medium-Term: 2030–2050
• Long Term: 2050–2100
These time horizons were selected because the business, and the construction and property sectors in
general, are associated with long lived assets that will still be subject to the long-term impacts of
climate change.
These horizons are aligned with the Group’s business planning processes. The short-term horizon aligns
with Fletcher Buildings 2030 SBT for GHG emissions reduction and is broadly aligned with the 5-year
business planning cycle, which includes proposed capital deployment for decarbonisation initiatives.
The medium-term horizon aligns with Fletcher Buildings ‘Net Zero by 2050’ strategic goal. The long-term
horizon broadly aligns to a 50-year asset lifetime for significant physical assets.
Transition risk assessment
For the transition risk assessment, the same three scenarios were used, with time horizons adjusted to be
shorter than the physical risk assessment. The time horizons used were:
• Short-Term: 0–5 years
• Medium-term: 5–10 years
• Long term: 10 or more years
Fletcher Building opted for these shorter time horizons because the nature of transition risks, which are
policy, regulatory, market, technology and reputational risks, means that there is limited value and very
high uncertainty in assessments with time horizons beyond one to two business planning cycles. The
short-term time horizon is aligned to the Group’s 5-year planning cycle, and captures most of the period
aligned to Fletcher Building’s 2030 SBT for GHG emissions reduction.
The medium-term horizon aligns with two business planning cycles. We have noted any risks beyond two
business planning cycles as being in the long-term horizon.
Based on the further work undertaken with the assistance of Aon, we believe that the scenarios used are
suitable for our organisation’s size, product types, operations and asset locations.
Fletcher Building Limited Climate Statements 2024
16

The scenarios at a glance
Scenario One
An 'Orderly' scenario where the world succeeds in limiting global temperature increase to 1.5°C above pre-
industrial temperatures. Global emissions decline steadily to achieve net zero CO2 emissions globally by
2050. New Zealand climate policies are ambitious and in line with the rest of the world’s, with the building
and construction sector adopting and prioritising decarbonisation policies. The energy grid shifts rapidly
away from fossil fuel use, with the New Zealand grid reaching 100% renewable by 2050. Alternative fuels
are used as a backup, and renewables are utilised onsite instead of fossil fuels.
The shadow price of carbon increases dramatically to align with a 1.5°C trajectory, steadily rising up to
$250/tCO2e by 2050 (an increase) of ~614% from a 2023 baseline of $35/tCO2e). As a result, the cost
and lead-times for low carbon materials and products increase through the 2020s and 2030s, but they
become more cost and time effective than traditional materials by 2040. The construction sector grows
significantly as carbon-supporting infrastructure is replaced with greener, low carbon infrastructure.
Regulatory changes for the property and construction sector include government procurement policies
targeting recycled materials and circular economy principles. Stringent energy and carbon caps for new
buildings are phased in rapidly. Existing buildings must disclose energy and carbon performance, take
steps to remove all reliance on fossil fuels for operation, and scale up energy efficiency.
Pressures on centralised infrastructure increase with the demand for electrification, closing of fossil fuel
power stations and direct climate impacts on storm and wastewater networks. Modular, circular designs
will take precedence, with existing building re-use and adaptive re-use being in demand rather than new
builds. Rapid densification puts pressure on horizontal infrastructure, necessitating significant upgrades.
Significant behavioural change results in an increased demand for energy efficient buildings, increased
pressures on public transport, the rise of circular business models and a higher consumer awareness
regarding low carbon buildings.
Increase in
average global air
temperature
(relative to pre-
industrial levels)
Average sea level
rise NZ
(from a 1995-2014
baseline)
Increase in
number of hot
days in NZ
(from a 1986-
2005 baseline)†
Increase in
rainfall intensity
in NZ
2

(from a 1986-
2005 baseline)
Increase in
extreme wind
speeds in NZ
(from a 1986-2005
baseline)
2041-
2060
1.6°C
2031-
2050
0.1 9 m40%6%Up to 5%
2081-
2100
1.4°C
2081-
2100
0.39m40%6%Up to 5%
Fletcher Building Limited Climate Statements 2024
17

Increase in
average global air
temperature
(relative to pre-
industrial levels)
Average sea level
rise NZ
(from a 1995-2014
baseline)
Increase in
number of hot
days in NZ
(from a 1986-
2005 baseline)†
Increase in
rainfall intensity
in NZ
2

(from a 1986-
2005 baseline)
Increase in
extreme wind
speeds in NZ
(from a 1986-2005
baseline)
2041-
2060
1.7°C
2031-
2050
0.2m40%6%Up to 5%
2081-
2100
1.8°C
2081-
2100
0.6m40%6%Up to 5%
Scenario Two
A ‘Delayed Transition’ where policy, technology and behaviour changes remain slow up until 2030. As
global emissions continue to rise during the 2020s, concerns about meeting Paris Agreement Goals drives
a sudden shift in global policy around 2030. Abrupt and stringent decarbonisation policies are enacted in
the 2030s, succeeding in limiting global warming to below 2°C above pre-industrial levels by 2100.
New Zealand follows suit with the rest of the world, leading to abrupt policy and market changes for the
property and construction sector post-2030. There is no initial increase in carbon price up to 2030, at
which point price rapidly increases to reach $250/tCO2e by 2050.
During the 2020s there is a slow increase in demand for electricity, followed by a surge in demand in the
2030s as New Zealand rushes to electrify our transport networks. The electricity sector is unprepared
for the sudden shift in demand at 2030, which causes a delay in adequate expansion of the grid during
the 2030s and leads to supply constraints. These constraints result in more frequent blackouts and
fluctuations in electricity prices.
During the 2020s, increased regulation within the sector attempts to address the need to decarbonise,
but regulation is uneven across local entities and conflicting regulations lead to uncertainty. At 2030
more stringent regulatory changes are introduced. During the 2020s there is less investment signalling for
both new and retrofit low carbon buildings, which causes further uncertainty and lack of momentum until
2030. At 2030, significant regulatory changes demand an immediate step change in building energy and
carbon requirements.
Limited investment during the 2020s means the spike in demand for low carbon materials, low energy
technology and onsite generation in 2030 causes significant disruption for the sector. Competition for
availability of products, materials, professional advice and competent installers impacts significantly on
both new building and retrofit projects resulting in escalation in development costs.
Pressures on centralised infrastructure are compounded after 2030 due to increasing densification
and the increasing impacts of physical climate risks. Spatial planning to prioritise decarbonisation and
densification versus climate resilience and managed retreat is inconsistent across the country. This
inconsistency leads to increasing uncertainty for the construction and property sector regarding which
assets are most likely to become stranded.
Initially the construction and property sector is slow to decarbonise, but ‘fast movers’ get the opportunity
to utilise materials, capital, and knowledge while late movers are disadvantaged when demands peak
post-2030.
Fletcher Building Limited Climate Statements 2024
18

Scenario Three
A ‘Hot House World’ where global emissions continue to grow. Global average temperature rises to greater
than 3°C above pre-industrial levels by 2100.
New Zealand’s climate change policy remains in keeping with the rest of the world. No further policies
are introduced to curb emissions, with the building and construction sector following suit. Regulatory
changes are slow and focus on adaptation and managing climate driven immigration/refugees. The price
of carbon remains at the current ETS floor price through to 2050. Mandates are introduced to conserve
energy for critical functions, as asset and infrastructure damages due to climate change are realised.
New Zealand’s electricity grid is gradually decarbonised further in line with current policies. Emission grid
factors remain at 0.06 kgCO2/kWh by 2050 which means buildings wishing to achieve net zero carbon
emissions must invest in their own zero carbon generation.
Existing low carbon materials are readily available due to low demand but there is little innovation
beyond technologies and materials currently available. Investment is prioritised towards adaptation and
climate resilience. Some assets become stranded as building codes increasingly become more stringent
regarding the need for buildings to withstand climate impacts (such as storm events, extreme rainfall,
heatwaves, and floods).
Centralised infrastructure will show failures and stresses, with some assets becoming stranded due to
physical impacts of climate change. Consequently, local councils increase rates to invest in protection and
restoration of certain assets.
There are no incentives for meaningful behavioural change. A significant breakdown of social cohesion
occurs, with heat stress and mental health impacts from climate change at record levels. Food insecurity
and growing populations drive retreat from cities. Spikes in demand for housing occur due to climate-
driven immigration from other parts of the world and increasing numbers of climate refugees.
Increase in
average global air
temperature
(relative to pre-
industrial levels)
Average sea level
rise NZ
(from a 1995-2014
baseline)
Increase in
number of hot
days in NZ
(from a 1986-
2005 baseline)†
Increase in
rainfall intensity
in NZ
2

(from a 1986-
2005 baseline)
Increase in
extreme wind
speeds in NZ
(from a 1986-2005
baseline)
2041-
2060
2 .1 ° C
2031-
2050
0.24m100%8.6%5-10%
2081-
2100
3.6°C
2081-
2100
1.08m300%2 6 .1 %Up to 10%
Fletcher Building Limited Climate Statements 2024
19

Physical risks and opportunities
General Approach to applying the scenarios
The risk assessment methodology framework was designed to allow assessment at a site level and at an
organisation level.
This approach accommodates a broader (high level) review of hazard and exposure at a site level as well
as a more detailed assessment for high value or high criticality sites.
The high-level screening of potential physical risks to the Group’s sites (and its operations) was guided by
the answers to the following questions:
• What are the relevant climate-related hazards and their extent of change over the timeframes
of interest?
• Which key sites are exposed to the identified climate-related hazards?
• Are the exposed sites vulnerable to damage/failure because of exposure to the identified hazards?
This assessment has been conducted in FY20, FY22 and FY24 and will be repeated at least every three
years. Key findings from the physical risk assessment are incorporated into our Group-level risk reviews,
and material risks specific to business unit sites should be captured in our risk registers.
Fletcher Building did not identify any physical climate-related opportunities in the FY24 assessment.
Physical risks and impacts
The assessment included analysis across all ~780 Fletcher Building sites, including
• Tier 1 sites, the 59 sites that make up 79% and 69% of the Group’s Material Damage and Business
Interruption values respectively;
• Tier 2 sites, being 11% and 16% of the Group’s Material Damage and Business Interruption values
respectively; and
• Tier 3 sites, being 10% and 15% of the Group’s Material Damage and Business Interruption values
respectively.
Hazards identified for the sites were those material to our operations, and aligned to hazards in the list
that the Intergovernmental Panel on Climate Change (IPCC) recommend assessing:
• Rainfall
• Temperature rises
• Sea level rises
• Extreme storm events
• Other events, such as bush fires
The FY24 review confirmed that the Group’s overall exposure to climate-related hazards is moderate with
flooding being the key exposure.
Hazards include coastal, river and rain-induced (pluvial) flooding.
The level of exposure to flood risk does not materially change over the three time horizons under any of
the climate scenarios.
The FY24 assessment also confirmed that the proportion of assets exposed to flooding risk has not
materially changed compared to the previous analysis completed in 2022.
The number of sites and site values that are exposed, show limited change over time under each of the
three scenarios and timeframes. When we look at those sites that are highly exposed to flood risk, there is
Fletcher Building Limited Climate Statements 2024
20

an increase in rainfall intensity and flood frequency and/or severity. However, for the majority of sites, this
does not result in a corresponding increase in the impact of floods under most scenarios and timeframes.
Due to more granular flood data becoming available in FY24, we have assessed both the exposure of our
New Zealand assets to flood risk and the potential impact on our New Zealand assets of physical damage
due to flooding. For New Zealand, this is relatively moderate. As an example, the material damage cost of
a 1 in 200-year pluvial flood event if experienced simultaneously at all New Zealand sites is calculated to
be c. $54 million
2
.
We will undertake the same detailed impact analysis for our assets in Australia when the methodology and
more granular data becomes available. While the key exposure across the portfolio is from flooding, other
impacts are relevant for our operations in certain regions.
Bushfire exposure is significant at a relatively small number of locations where we have operations,
including the region where our Laminex Toolara site is located. In FY25 we will conduct a detailed analysis
of the exposure and potential impact of bushfire at Toolara, taking into account existing mitigations.
Laminex Toolara is ~11% of the insured asset value for the Group.
While cyclone exposure is generally considered to be significant for the Queensland region, exposure is
modest for our assets, which are less exposed because they are mostly located in the south of the region.
High or extreme cyclone exposure for our assets in Queensland is potentially up to 4.7% of insured values,
which is less than 1% of the Group’s insured asset values.
Transition risks
General approach to applying the scenarios
In assessing Transition risks and opportunities for Fletcher Building, we reviewed global and regional
risk frameworks for our sector in FY22 and FY23 as part of publishing our voluntary Climate-related
Disclosures. In FY23 we were part of the NZGBC Leadership Group and Technical Working Group that
developed the property and construction scenarios and narratives described in the Scenario Analysis
section.
Following completion of the sector scenarios, we engaged a consultancy with climate risk expertise to
provide us with a comprehensive list of potential transition risks and opportunities, relevant to
our operations.
We reviewed these risks and opportunities with subject matter experts within our business, and with
our Executive team, to identify the most material risks, opportunities and impacts, and the time horizon
when we expect these might occur. Risks and opportunities were identified as material if they would be
expected to have an impact at Group level on financial or operational performance. These material risks
and opportunities were then prioritised based on those expected to be more likely to occur, and to have a
high impact if they did occur.
An assessment of our transition risks and opportunities will be repeated at least every three years. Key
findings will be used to inform our business strategy, by including the response to material transition risks
and opportunities into divisional or Group plans, as relevant.
Transition Risks, Opportunities and Impacts
The material transition risks and anticipated impacts for Fletcher Building are included in Appendix B
of these Climate Statements. Material transition opportunities and anticipated impacts are included in
Appendix C of these Climate Statements.
2
The figure of $54 million does not include trading losses or other costs associated with business interruption.
Fletcher Building Limited Climate Statements 2024
21

Our Transition Plan
Our current business model and strategy
Fletcher Building is a significant manufacturer, retailer, home builder and partner on major construction
and infrastructure projects.
Fletcher Building is dual listed on the NZX and ASX, and operates through six divisions – Building
Products, Distribution, Concrete, Australia, Residential and Development and Construction.
Fletcher Building operates in New Zealand, Australia and the South Pacific, and has approximately 780
operating sites. In FY24 we employed over 12,500 people across our operations.
We operate diversified businesses, from resource extraction, product manufacturing and distribution
through to property development and infrastructure construction. We have a focus on innovation and
growth, including investing in sustainable business and the next generation of building products and
services for our local markets.
The long-term growth outlook for the regions where we operate is robust, with demand for high quality
housing and infrastructure to support growing populations, the subject of enduring macro tailwinds.
Climate change may affect Fletcher Building through physical impacts in our regions of operation, and
transition risks in the regulatory and market environments where we operate. These potential impacts are
described in the Risk Management sections of these Climate Statements and in Appendices A, B, and C.
Reducing our operational emissions is one of the focus areas that supports our current business model
and strategy, together with sustainable innovation and growth in our sectors.
Two of the goals that support our business model are:
• our ’30 by 30’ target for Greenhouse Gas emissions reduction, which is a Science-based Target to
achieve 30% reduction in Scope 1 and Scope 2 GHG emissions by 2030, from a 2018 baseline; and
• our Revenue from Sustainably Certified Products target is to have >75% of product revenue from our
manufacturing businesses from products that hold a third-party sustainability certification that is
based on whole-of-life analysis.
Transition Plan
Our business model, strategy and Transition Plan will evolve as we continue to assess our climate related
risks and opportunities, and for this disclosure we are exercising Adoption Provision 3 in relation to
transition planning.
The components that our Transition Plan will focus on are reducing our emissions, providing further lower
carbon products and services to the market, and managing our resilience and adaption to climate risks.
Aspects of our Transition Plan that are already underway within the business are outlined below.
Emissions reduction
Scope 1 and 2 GHG emissions
The key business tool we use for emissions reduction is our Carbon Reduction Roadmap. This maps
technically feasible carbon reduction options for Scope 1 and Scope 2 GHG emissions for each of our
divisions through to 2030.
The roadmap is reviewed and revised by each division as part of annual budget reviews and as part of the
Fletcher Building Limited Climate Statements 2024
22

Cement
Operations
41%
Process Heat - Coal
15%
Electricity use in
Australia
21%
Process Heat - Other Fossil
9%
Transport Fuel
7%
Other
7%
Scope 1 and 2 GHG emission sources
annual 5-year plan reviews. Performance against the roadmap is reported to the SHES Committee at least
twice per year and is included in the incentives for the Chief Executive of the Concrete division, which is
the division with the highest contribution to emissions.
The highest sources of Scope 1 and 2 GHG emissions for our business, collectively contributing over
90%, are:
• The coal used for process heat in our cement operations at Golden Bay plant in Portland;
• The carbon dioxide produced from the cement manufacturing process itself;
• Electricity used in the manufacture of products in our Australian businesses;
• Process heat from our manufacturing operations in New Zealand; and
• Fuel used for transport in New Zealand.
Scope 1 and Scope 2 GHG emissions for our ongoing operations were 969 thousand metric tonnes of
CO2e (kt CO2e) in FY24.
Coal use and cement operations
To date we have successfully implemented initiatives to reduce the use of coal in our cement operations,
with substitution of biomass and waste end-of-life tyres able to achieve circa 60% substitution for coal. As
part of developing our Transition Plan we will continue to investigate options to reduce coal usage further.
In our cement operations, we have looked at options to reduce the direct emissions from the cement
manufacturing process, and already use a proportion of alternative cementitious materials in our product.
A key part of our Transition Plan is our work with Concrete New Zealand and our support of the concrete
industry roadmap to achieve net zero carbon emissions by 2050. The roadmap charts a clear path to
substantial carbon reduction across the industry and it is our collective goal to reduce emissions by 44
per cent from 2020 levels, by 2030.
Fletcher Building Limited Climate Statements 2024
23

Electricity in our Australian businesses
Our Transition Plan for these emissions is a combination of rooftop solar energy and renewable energy
purchase, in addition to reductions that are achieved by ongoing decarbonization of the Australian
electricity grid.
We are underway with the first phase of rooftop solar installations for three of our largest sites in Australia.
We have also purchased renewable energy for the 2027 to 2030 period for our operations in Victoria, and
have identified other options for renewable energy purchases.
If we are able to execute our energy Transition Plan for Australia this has the potential to reduce emissions
from this source by up to 60% by 2030 in comparison with our 2018 baseline year, with a 20% reduction
already achieved.
Process heat
To date we have reduced process heat emissions, from natural gas, in our New Zealand steel coating and
wallboards operations through upgrading to more efficient plant or processes.
To reduce process heat emissions further will require cost effective alternatives to natural gas, including
biomass and other sources. As part of developing our Transition Plan in this area, we will focus on
researching alternative lower carbon options identifying options for our largest users of process heat in
New Zealand. A key limitation is the lack of viable solutions to replace natural gas as a high temperature
process heat source.
Transport fuel – our fleet
The main contribution is from our Construction transport fleet. We are transitioning light vehicles to hybrid
options as leases turn over, while we actively track fit-for-purpose options for electric vehicles.
For our heavy fleet and equipment, we are actively looking for cost effective options for lower emission
heavy fleet and have partnered with transport suppliers who are looking for hydrogen and heavy
EV options.
The development and implementation of our Transition Plan for transport fuel is dependent on the
availability of electric or other non-ICE options entering the New Zealand market that are appropriate for
our business.
Scope 3 GHG emissions
The highest sources of Scope 3
3
GHG emissions for our business, collectively contributing circa 85% of
Scope 3 GHG emissions, are:
• Purchased steel and purchased cement;
• Construction operations and materials; and
• Road transport
There are a number of smaller sources that make up our Scope 3 GHG emissions, including transmission
and distribution losses from the electricity and natural gas grids, which are circa 3% of Scope 3 GHG
emissions, business travel and employee commuting, which is circa 2% of Scope 3 GHG emissions, and
3
We assess Scope 3 GHG emissions for all upstream value chain categories and all downstream categories other than processing,
use and end-of-life treatment of sold products, and downstream leased assets. Details of the Scope 3 categories assessed, and
the assurance of Scope 3 GHG emissions, are provided in the Assurance Statements for FY18 to FY24 that are available in the
‘Sustainability reports, publications and policies’ section of our Sustainability web page (fletcherbuilding.com/sustainability).
Fletcher Building Limited Climate Statements 2024
24

Construction operations and
materials
17%
Road freight
10%
Other Scope 3
15%
Purchased Steel
55%
Purchased Cement
3%
Scope 3 GHG emission sources
other sources individually contributing less than 2% each of overall Scope 3 GHG emissions.
Our Transition Plan currently focuses on addressing the most significant components of our Scope 3 GHG
emissions.
Notwithstanding the above comment, our business units and divisions focus on efficiency and
management of operating costs, and this is expected to flow on to Scope 3 GHG emissions reductions in
many areas, including transport.
Scope 3 GHG emissions were assessed as 1,326 kt CO2e in FY24.
Purchased steel and cement
Together these two materials contribute circa 60% of our Scope 3 GHG emissions, and are the area we are
most focused on to reduce our Scope 3 GHG emissions.
Our main action is to continue discussions with key suppliers on their alignment with global steel and
cement sector decarbonisation pathways. Our two most significant steel and cement suppliers are already
aligned to the Science-based Target sector decarbonization pathways, and a key part of our Transition
Planis to look at increasing the proportion of suppliers we use who have these reduction goals.
Construction operations and materials
Initially, our Transition Plan for construction materials other than steel and cement requires a greater
understanding of materials with high embodied carbon and the supply chain for these materials. Our key
action to reduce this category of Scope 3 GHG emissions is to understand the high carbon components in
this category.
Road Transport – supply chain
We are engaging with our current suppliers to understand their decarbonization strategies, and the impact
of these strategies over the next ten years and through to 2050. Decarbonizing the supply chain for heavy
freight would have the most significant impact in this emissions category.
Fletcher Building Limited Climate Statements 2024
25

Low carbon products and services
Providing lower carbon products and services is a core part of our business strategy, supported by the
goal of at least 75% of product revenue from our manufacturing divisions from products that have had a
life-cycle analysis assessment.
To date, we have also completed construction of the LowCO™, house and three terraces in FY24. These are
residential dwellings designed to have lifetime emissions consistent with a 1.5-degree future. The LowCO
TM

designs are an exemplar of sustainable residential construction. To support our and others transition to a
lower- emitting built environment, we have made the designs freely available for anyone to use.
Our Transition Plan is to continue to offer lower carbon products to market, and to move into offering
lower carbon services within our operations.
Adaptation and resilience
The physical risk assessments carried out in FY20, FY22 and FY24 are the foundation for our approach to
adaption and resilience. As part of the development and implementation of our Transition Plan we will
continue the assessment of physical risk exposure and impact, and identify potential mitigation options.
The key next actions for this aspect of our Transition Plan are to:
• complete the granular assessment of potential impacts of physical risks on our Australian operations
and, where material, our joint venture entities;
• continue to review and identify potential mitigations for assets with potential high impact; and
• begin assessment of key supply chain and transport impacts.
Integration of our Transition Plan into capital deployment and decision-making
Our Transition Plan has been increasingly integrated into our internal capital deployment and funding
decision-making processes. Central to this alignment is our annual five-year deep dive process, where
business units that have the most impact on the Group's Transition Plan, and based on our analysis are
most exposed to climate-related risks and opportunities, are required to highlight and present initiatives,
including capital investments, to meet the Group's sustainability goals and targets, and also identify those
opportunities and risks where performance and investment requires particular focus.
Supporting this, in May 2024, the ARC approved a Carbon Pricing Framework which introduces an 'internal
cost of carbon' metric for capital investment decisions. This framework aims to effectively evaluate
and prioritise investments that materially impact the carbon footprint of the Group and its operations
against other investments. While not yet fully embedded, this framework is expected to provide improved
guidance and a more rigorous basis for the allocation of capital to be deployed in key areas identified in
the Group’s Transition Plan.
Where it makes the most sense to do so, we continue to allocate capital to projects that we believe will
enhance our resilience to risks that impact our businesses, including physical climate risks, such as
potential modifications to facilities or supply chain adjustments.
On an ongoing basis, resources in our innovation team and in our various business units are directed
towards identifying, developing and bringing to market lower carbon products and solutions. This aligns
with our Transition Plan's focus on seeking to provide more sustainable options to our customers.
As noted in the Risk sections of these Climate Statements we are integrating physical and other climate-
related risks within our risk framework for the business.
Fletcher Building Limited Climate Statements 2024
26

By integrating these elements into our operational processes, we bring a more balanced view to
improving the operational excellence of our business units, which is becoming increasingly aligned
with our climate transition goals. As we continue to refine our Transition Plan, we anticipate further
enhancements to our capital deployment strategies and the resources required to support and execute
these. These strategies are expected to evolve with our understanding and identification of climate-
related risks and opportunities.
Barriers to implementing the Transition Plan
Several barriers to implementing the Transition Plan are included in other sections of these Climate
Statements, principally within the Transition Risks section. Three potentially significant barriers to
implementation of the Group’s Transition Plan are:
• Regulatory uncertainty, particularly in relation to the ETS and its treatment of industrial emitters, may
pose a significant barrier to implementing the Transition Plan should it make operational costs or
capital to decarbonize uneconomic in the local market.
• The potential impact of high energy costs, or availability of lower carbon intensive energy sources.
• The Group’s ability, including the ability of our supply chain, to implement the transition for goods
and services where proven technical solutions do not yet exist.
Fletcher Building Limited Climate Statements 2024
27

Metrics and Targets
Greenhouse gas emissions
Fletcher Building has a near-term Science-based Target for Greenhouse Gas (GHG) emissions, verified by
the Science-based Targets Institute (SBTi) in December 2019.
The target for Scope 1 and Scope 2 GHG emissions is aligned to a ‘well-below two degrees’ future, but is
not aligned to a 1.5 degree future. The target is a 30% absolute reduction in combined Scope 1 and 2 GHG
emissions by 2030 from a FY18 base year. The target does not rely on offsets.
In addition to this near-term Scope 1 and Scope 2 target, Fletcher Building’s long-term target is Net Zero
by 2050 for Scope 1 and Scope 2 GHG emissions. This is consistent with New Zealand and Australian
regulatory goals that are aligned to a 1.5 degree future, and therefore we consider our Net Zero target to
be aligned to a 1.5 degree future. The Net Zero target is an internal target but is aligned to the Science-
based Targets approach. This target is likely to rely on offsetting for residual emissions, which would be for
no more than 10% of emissions.
Fletcher Building has made progress toward our 2030 and 2050 targets. Comparative Scope 1 and Scope
2 GHG emissions are provided in the chart below. Combined Scope 1 and 2 GHG emissions for FY24 were
19% lower than for the baseline year of FY18.
Appendix D provides the methodology used to calculate emissions, and details of the assurance for Scope
1 and 2 GHG emissions, which is to a ‘reasonable’ assurance standard.
As well as tracking progress against our absolute emissions reduction target, we track our emissions
intensity, using the basis of tonnes of Scope 1 and Scope 2 GHG emissions per million dollars of revenue.
Fletcher Building is a diversified business, operating across multiple sectors, therefore emissions intensity
is the industry based metric we use for comparison with other entities. Emissions intensity decreased 22%
from 162 t CO2e/$m in FY18 to 126 t CO2e/$m in FY24.
Emissions (kt CO2
e)
Location based
1,400
1,200
1,000
800
600
400
200
0
FY18FY19FY20FY21FY22FY23FY24
180
100
140
60
20
160
80
120
40
0
Emissions Intensity (tCO2
e/$m)
Scope 1 emissions Scope 2 emissions Emissions intensity
GHG emissions
162
147
165
148
136
132
752
FY24
217
773
FY23
239
793
FY22
259
823
FY21
266
804
FY20
275
812
FY19
290
896
FY18
303
126
Fletcher Building Limited Climate Statements 2024
28

Fletcher Building’s Scope 3 science-based target is for 67% of suppliers, based on emissions, to have set
their own science-based target by the end of 2024. Currently, the percentage of Scope 3 GHG emissions
from suppliers with a Science-based Target or an aligned pathway is circa 35%, and we are therefore
unlikely to achieve this component of our Science-based Target.
Scope 3 GHG emissions were assessed as 1,326 kt CO2e in FY24
4
. FY23 Scope 3 GHG emissions were
assessed as 1,450 kt CO2e, an increase from FY22 Scope 3 GHG emissions of 730 kt CO2e
5
. This increase
reflects improved information about the embodied emissions in the goods we procure from the most
significant sources of Scope 3 GHG emissions in our supply chain, gained by engaging directly with these
suppliers. The decrease in Scope 3 GHG emissions from FY23 to FY24 is at least partially due to reduced
market activity.
Appendix D provides the methodology used to calculate emissions, and details of the assurance for Scope
3 GHG emissions, which is to a ‘limited’ assurance standard. The assurance statements for GHG emissions
are available at: https://fletcherbuilding.com/assets/1-about-us/documents/Fletcher-Building-Assurance-
Statement-FY24-Emissions-Inventory.pdf
Physical risks
The metric we currently apply for physical risk exposure is potential impact as a value or percentage of
asset value. For example, as noted previously we calculate a potential material damage cost of $54 million
for 1 in 200-year pluvial flood event if experienced simultaneously at all New Zealand sites, and we will
undertake the same assessment for our assets in Australia when the methodology and more granular data
becomes available.
More detail on physical risk exposure and impact is included in Appendix A.
Other metrics and KPIs
The metrics and targets mentioned above, related to GHG emissions and asset risk, are the set of key
performance indicators used by Fletcher Building to measure and manage climate-related risks and
opportunities.
Capital deployment
In FY24, Fletcher Building invested $179 million toward capital projects aimed at carbon reduction, energy
efficiency, and the provision of lower carbon building products, responding to climate-related risks and
opportunities. This amount reflects the total capital invested in each project during the year, and therefore
the figure does not separate out the capital specifically addressing climate related risks and opportunities.
Key investments include:
• Laminex® New Zealand's Taupō plant expansion ($98 million): Set to begin production in late 2026,
expanding our provision of wood-based products into the New Zealand market.
• The completion of Winstone Wallboards® new GIB® plant ($38 million): Expected to deliver a 13%
reduction in CO2e emissions per square metre of board produced compared to the old Auckland
plant, featuring onsite recycling and innovative waste plasterboard recycling technology.
• The completion of LowCO™: Our sustainable homes of the future project, demonstrating how to
reduce lifetime carbon emissions in residential construction consistent with a 1.5 degree future.
• Our other ongoing process and plant upgrades: With a focus on energy and material efficiency,
including enabling the use of lower carbon biomass and waste end-of-life tyres as sources of process
heat for our cement operations, and reduce the use of coal.
4
Scope 3 GHG emissions reported here are all upstream value chain categories and all downstream categories other than processing,
use and end-of-life treatment of sold products, and downstream leased assets. Details of the Scope 3 categories assessed, and
the assurance of Scope 3 GHG emissions, are provided in the Assurance Statements for FY18 to FY24 that are available in the
‘Sustainability reports, publications and policies’ section of our Sustainability web page (fletcherbuilding.com/sustainability).
5
FY22 and FY23 Scope 3 GHG emissions figures include Tradelink, which is estimated to contribute ~2% of each year’s total.
Fletcher Building Limited Climate Statements 2024
29

Remuneration
ESG (Environmental, Social & Governance) goals are incorporated into the STI scorecards of our senior
leaders to drive focus and outcomes beyond the financial year. Where appropriate, and aligned to Fletcher
Building’s sustainability strategy, this includes goals that work towards our target of a 30% reduction in
carbon emissions by FY30 and achieving net zero by FY50.
At an Executive level for FY24, this has been incorporated into the individual goals with a 5% contribution
to STI for the Chief Executive of our Concrete division. This division is the focus because it is the largest
contributor to Fletcher Building’s Scope 1 GHG emissions and contributes circa 55% of the Group’s
combined Scope 1 and Scope 2 GHG emissions.
Internal Cost of Carbon- $ per tonne CO2eProjects < 5 yearsProjects > 5 years
New Zealand (NZD)$80$100
Australia (AUD)$60$50
Internal emissions price
Fletcher Building’s Internal Cost of Carbon Framework (the cost of carbon framework) was approved by
the ARC in May 2024 to guide the Group’s capital investment decisions in a manner that aligns with its
environmental goals and meets regulatory expectations, both present and future. By incorporating carbon
pricing into the decision-making process, the aim is to support the effective evaluation and prioritisation
of investments that also materially impact the carbon footprint of the Group and any of its business units.
Methodology for Carbon Pricing: Our shadow price for carbon is determined using multiple external
reference points:
• NZ ETS market price: current & forward prices
• NZ ETS Market Floor: current & future published prices
• NZ ETS Cost Containment Reserve: current & future published reserves
• NZ Carbon offset price: current & forward prices
• Renewable electricity price (AU): current & forward prices
Different weightings are assigned to these reference points based on relevance, currency, and availability.
The market price has the highest weighting due to its currency. The market floor provides a minimum
value. Carbon offset credits, limited to 10% of the Group’s carbon reduction, are weighted accordingly,
with the cost containment reserve weighted based on relevance.
The approved internal carbon pricing mechanism is evolutionary, and assumes the Group’s 'carbon
prices' will change with time. As countries, and indeed the Group, gets closer to their carbon reduction
deadlines, urgency becomes a factor. Therefore, updates to the Group’s internal 'carbon prices' will need
to be considered regularly (at least annually), to remain current.
The Group’s carbon pricing also considers the cost of implementing initiatives in different jurisdictions
and initiatives with different time horizons, where a blend of current and forward/future pricing is used
to inform an appropriate carbon price for projects in different countries and with different horizons. The
following carbon prices were approved for internal use:
Fletcher Building Limited Climate Statements 2024
30

In addition to the inclusion of STI for the Chief Executive of the Concrete division, all divisional Chief
Executives are required to provide a long-term carbon reduction plan that supports Fletcher Building’s
30% reduction by 2030 target, and which identifies and costs specific GHG reduction initiatives.
Transition risks and climate-related opportunities
We estimate that 80% of our business activities, as a proportion of FY24 gross revenue, are vulnerable to
Transition Risks. These were assessed on the basis of those divisions that are exposed to at least one of
the material transition risks identified in Appendix B.
We estimate that 100% of our business activities are able to take advantage of climate-related transition
opportunities, on the basis of those divisions that can align with at least one of the transition opportunities
identified in Appendix C.
Fletcher Building Limited Climate Statements 2024
31

Appendices
Appendix A: Detailed physical risk findings
The key findings from the extended analysis, are summarised below. All values are expressed as FY24
values for material damage.
• The climate is projected to change for New Zealand and Australia in the next 100 years. Both
countries are expected to experience an increase in temperatures and communities on the coast
are expected to be faced with increased sea levels. Additionally, analysis indicates that there will
be variation in the frequency and intensity of rain events that will affect river flooding, storm and
cyclones and changes to susceptibility to bush fire for Australia which currently has a higher risk
level than New Zealand. This increased hazard level will change the exposure of each site, potentially
damaging assets which is reflected in the site risk.
• The assessment included analysis across all ~780 Fletcher Building sites. The key exposure identified
to FBL assets across the portfolio is of flooding. This is primarily pluvial flood risk (rainfall driven), but
there is also exposure for fluvial (river) flooding and coastal flooding. Direct sea level rise exposure
has been assessed as limited but it does impact coastal flooding exposure. Bushfire exposure
is significant at a relatively small number of locations (notably Toolara) and cyclone exposure is
significant for assets in Queensland. FBL’s exposure to all of these is increasing and the severity of
this exposure increases over time with general modest shifts in exposure in the short to medium
term but more significant changes over the longer term and more pessimistic projections of climate
change action.
• Flood exposure (current day) is expected to be relatively modest with only a minority of sites even
potentially exposed to high or very high flood exposure levels in New Zealand (45 sites with a
combined value of $274 million) and Australia (24 sites with a combined value of $773 million).
• Increases in risk due to climate change have been assessed to be modest. Across the whole portfolio
for NZ sites there are only 12 sites which indicate an increase in risk grading from current day when
climate change is considered. This increase only occurs for RCP 8.5 (SSP3). There are 23 sites, which
based on current day flood exposure have no flood risk, but which are indicated as having a flood
exposure (generally very low but some low) in the future. This only occurs for the RCP 8.5 (SSP3)
scenario and this increase in flood risk emerges by 2060 for this scenario.
• Financial risk analysis was undertaken across the New Zealand portfolio this indicates a potential
material damage loss of approximately $53 million for pluvial impacts and $47 million for fluvial
impacts for a 1 in a 100 year event (this increases to approximately $54 million/$48 million
respectively for a 1 in 200 year event). While events of this magnitude do not commonly occur within
a short time frame across the whole country, this assessment provides a benchmark of value at risk
of flood. The increase in the value of flood related loss for climate change projections is relatively
modest with increases by 2100 of around 5% for SSP1/SSP2 and around 10% for SSP3.
• Further analysis including the annualised loss across all flood events (range of return periods) for NZ
assets has been carried out. This indicates an annualised loss of approximately $11 million/year for
flood. This value reduces if the analysis excludes a small number of specifically vulnerable sites. The
annualised loss with climate change impacts increases by approximately 5% for SSP1/SSP2 and 12%
for SSP3 by 2100.
• From the analysis three sites have been identified as the priority for more detailed assessments
(which includes Toolara for bushfire hazard) and a number of sites with experienced or indicated
flood exposure where the action is to review the analysis including supplementing site information
during insurance surveys (where applicable) or by direct communication with the site/business unit.
• In summary the portfolio exposure for FBL to climate hazards is moderate. The key exposure is to
flood with some more localised exposure to storm/cyclone and bushfire. The % of values at risk
from flood is relatively modest (in terms of the overall value of Fletcher Building) in part because
of the large number and geographical spread of sites. The change in the risk profile due to climate
change is also relatively modest with a modest increase in risk with this being most significant for
longer time horizons (2100) and more severe climate change (SSP3 scenario). It should also be noted
the analysis does not include any allowance for adaptation, mitigation or change in the portfolio to
reduce its risk exposure.
Fletcher Building Limited Climate Statements 2024
32

Appendix B: Summary of Transition Risks
Risk Description
Time horizon
S: <5 years
M: 5-10 years
L: 10+ years
Risk area
Policy and regulatory changes for EITE businesses, including re-baselining
of industrial allocation, that make local cement manufacturing financially
unsustainable.
Key impacts:
• The discretionary review of industrial allocation discourages private
investment into decarbonisation due to the uncertainty it creates as a
result of potential 5-yearly reviews.
• Cost increases to domestic operators shifts production overseas to
jurisdictions with lower, or no, carbon pricing.
• Lack of local production makes New Zealand reliant on imported
cement, which results in heightened supply chain risk for the
construction sector, and less economic resilience.
• Global emissions increase due to the higher intensity of overseas
producers.
S M L
High priority
Policy and Legal
Policy and regulatory changes including carbon pricing policies that make
local manufacturing less cost competitive.
Key impacts:
• Importers are not captured by the NZ ETS, which puts local
manufacturers within the ETS at risk of a loss of market share.
This has a direct impact on potential viability of domestic cement
production.
• Reduced revenue generation ability of existing assets.
• Competition in both quality (lower carbon, high quality imports) and
cost (cheap, higher carbon overseas imports).
• The ETS impacts energy prices broadly, which will impact costs
across the business.
• Carbon capture, uptake and storage options are currently
prohibitively expensive, and in our view will remain so for the
medium to long term.
S M L
High priority
Policy and Legal
Inability to make use of alternative renewable energy sources, or Unstable
supply and pricing of low carbon material feedstocks and fuels.
Key impacts:
• Downstream reputational and financial impacts.
• Failing to switch from energy sources that are subject to future
pricing policies may increase costs for Fletcher Building and end
users.
• Risk of locking in fossil fuel combustion technology for
manufacturing if comparable cost solutions are not available soon.
Inability to lock in long term supplies of material feedstocks and fuels
may impact ability to transition certain processing activities, leading
to a risk of failing to meet emissions reduction milestones.
• Long term forecast may suffer from global pricing volatility.
• Risk of not meeting climate-related targets.
S M L
High priority
Technology
Fletcher Building Limited Climate Statements 2024
33

Risk Description
Time horizon
S: <5 years
M: 5-10 years
L: 10+ years
Risk area
Increased planning requirements and more stringent building codes and
land use guidelines as a result of extreme weather events.
Key impacts:
• Potential risk of stranded assets in development portfolio.
• Resilience requirements may increase for Fletcher Building’s existing
manufacturing facilities.
S M L
Policy and Legal
Customers may delay their long-term sustainability commitments due to
short-term cost pressures, which will impact on demand for sustainable
products.
Key impacts:
• Clients may continue to make decisions based on cost, putting off
delivering on their sustainability ambitions, which will impact on
demand for sustainable products from our business.
• Ability for clients to undertake long term strategic planning or target
setting may suffer from government policy shifts.
S M L
Policy and Legal
New technology is overly expensive or incompatible with the Australia or
New Zealand operating environment.
Key impacts:
• Slower progression towards achieving climate-related commitments
and targets if new solutions for emissions abatement are not able to
be adopted or developed.
• Materials that are not cost competitive may not be attractive to
clients.
• Carbon capture, uptake and storage options are currently
prohibitively expensive, and in our view will remain so for the
medium to long term
S M L
Technology
Building code advances faster than technology solutions with tighter
regulations around material specifications in design.
Key impacts:
• Certain building products becoming obsolete in light of worsening
extreme weather events.
• Risk of low-cost, low emission products reaching New Zealand
market ahead of local products’ ability to adapt.
S M L
Technology
Failure to meet consumer, client, employee and investor expectations on
sustainable innovation.
Key impacts:
• Fletcher Building may lose market share if it does not invest
sufficiently in sustainable innovation to meet potential future demand
for sustainable products.
• However, if investment in developing and bringing to market more
sustainable products outpaces demand, there may be a cost impact.
• Our recruitment pool may be restricted if purpose-driven future
employees want to work elsewhere given a lack of sustainable action.
S M L
High priority
Market
Early introduction of greener products / services by competitors.
Key impacts:
• Potential for building products to be displaced by overseas imports.
• Loss of market share to lower carbon competitors’ products, or
margin erosion.
S M L
High priority
Market
Fletcher Building Limited Climate Statements 2024
34

Risk Description
Time horizon
S: <5 years
M: 5-10 years
L: 10+ years
Risk area
Public perception as a large carbon emitter.
Key impacts:
• Insurance companies and investors may avoid emissions intensive
industries / assets, or those without a firm plan to build resilience.
• Accessing capital may become more expensive if we do not progress
our reduction roadmap.
• External pressure for more aggressive targets.
• Targets become more difficult to reach if emissions reduction
investments or actions are delayed.
S M L
Reputation
Continuing to construct infrastructure that enables GHG emissions, like
roads and airports, may be viewed as unfavourable by investors and the
public.
Key impacts:
• Decline in reputation if viewed as continuing to construct grey, rather
than green, infrastructure which may deter investment.
S M L
Reputation
Increased expense of manufacturing existing products and technology.
Key impacts:
• Margin erosion, e.g. through pricing in the cost of compliance with
the NZ ETS or requiring external sourcing of alternative materials for
cement manufacture.
• The cost of alternative materials may be higher than the materials
currently used.
S M L
Technology
Fletcher Building Limited Climate Statements 2024
35

Appendix C: Summary of Transition Opportunities
Opportunity Description
Time horizon
S: <5 years
M: 5-10 years
L: 10+ years
Opportunity
area
Energy efficiency improvements driven by the implementation of the ’30 by
30’ emissions reduction programme.
Key impacts:
• Over the short-term, cost reduction is the primary impact.
• Over the medium-term, the key outcome is revenue protection.
S M L
Resource
efficiency /
energy source
Opportunities to use alternative, lower emission energy sources and reduce
dependence on imported energy sources like coal and diesel.
Key impacts:
• Potential for cost reduction, if this can be achieved with energy
pricing in the Australia and New Zealand markets.
• Decarbonisation of energy sources will flow through to products and
services, supporting Fletcher Building to meet emissions reduction
targets.
• Positive or improved investor relations, through investor ability to
demonstrate their own transition plans.
• Potential for net positive energy residential developments
• Positive market positioning from ‘greener’ construction projects, e.g.
non-fossil energy, if we are an early mover.
• Increased resilience and more energy independence, with reduced
risk of supply chain disruptions.
S M L
Resource
efficiency /
energy source
Integrate lean design and off-site manufacturing principles into projects for
carbon and cost savings.
Key impacts:
• Reduced environmental impact over time through more use of
modular systems.
• Faster production and supply chain throughput, increasing
construction turnaround time, and increased market share if
products are cheaper to produce.
S M L
Resource
efficiency /
energy source
Innovation and development of building products and services with
a smaller carbon footprint.
Key impacts:
• Leading the industry could help expand competitive advantage.
• Reduction of costs by making raw materials go further.
• Competitive advantage of cement innovation relative to other two
competitors.
• Market presence retained across New Zealand as the leading
supplier.
S M L
Products /
Services
Potential opportunities to support climate adaptation through
New Zealand’s national adaptation plan.
Key impacts:
• Develop products that can be made and installed throughout the
year, are less prone to seasonal changes, and are durable under
extreme weather events.
• Positive public perception and social licence to operate could be
improved by contributions to climate adaptation.
S M L
Policy and Legal
Fletcher Building Limited Climate Statements 2024
36

Opportunity Description
Time horizon
S: <5 years
M: 5-10 years
L: 10+ years
Opportunity
area
Identify ways to influence the mass market to support their own
decarbonisation ambitions.
Key impacts:
• Impacts will be most effective to a targeted audience, through
education of designers, specifiers, and group home builders on
choices they can make to reduce the impact of their projects, leading
to uptake of more sustainable products.
• Ability to leverage our first-to-market range of EPDs, building a brand
around existing, 'more sustainable' products.
• Potential to position PlaceMakers as the 'storefront' for more
sustainable products.
• Potential to sell package solutions, rather than just individual
products, meaning more sustainable choices become simple for
customers to make.
S M L
Products /
Services
Prioritise innovation to drive climate change solutions and resilience.
Key impacts:
• Primary benefit in the infrastructure space is changing systems,
not products. Examples are off-site construction, and lower carbon
design for bridges, foundations and other structural elements.
• Potential to develop offerings aligned to climate adaption.
• Ability to evaluate potential sector level impacts, such as through
Clever Core’s approach to streamlining consenting processes.
S M L
Markets
Identify and package service offerings spanning business units that meet
promote resilience and broader societal benefits.
Key impacts:
• Increased revenue from selling total package services comprises
products spanning multiple business units, for example selling a
total residential / commercial system that meets potential future
embodied emission requirements.
• Better coordination across our people in advocacy roles to offer
a more holistic solution to clients, moving from a focus on selling
products to systems that resolve problems.
• Improved reputation as an innovator working towards solving the
housing crisis by, e.g., improving supply chain efficiency given the
packaged services.
S M L
Resilience
Implement circular economy principles within the Fletcher Building
business group.
Key impacts:
• Use of biomass in some product manufacturing, or sale of pelletised
biomass, supporting non-fossil fuels.
• Reduced space requirements for waste through designing out waste,
increased reuse and recycling.
S M L
Resource
efficiency /
energy source
Increase our focus on maintenance and other lower carbon forms of
construction.
Key impacts:
• Positive steps towards meeting emissions reduction targets for
Fletcher Building and for clients.
S M L
Resource
efficiency /
energy source
Fletcher Building Limited Climate Statements 2024
37

Appendix D: Methodology used for greenhouse gas (GHG) emissions
Greenhouse Gas (GHG) emissions are calculated in accordance with the Greenhouse Gas Protocol:
A Corporate Accounting and Reporting Standard, Corporate Value Chain (Scope 3) Accounting and
Reporting Standard: Supplement to the GHG Protocol Corporate Accounting and Reporting Standard
(together referred to as the GHG Protocol) and ISO 14064-1:2018 International Standard for GHG
Emissions Inventories and Verification.
Scope 1 (ISO 14064 category 1, direct emissions), Scope 2 (ISO 14064 category 2, indirect emissions
from imported energy) and Scope 3 GHG emissions (ISO 14064 categories 3-6, indirect emissions from
the supply chain) have been externally assured by Toitū Envirocare in accordance with ISO 14064-1:2018.
Scope 1 and 2 GHG emissions have Reasonable assurance, and Scope 3 GHG emissions have Limited
assurance. Assurance statements for FY18 to FY24 are available in the ‘Sustainability Reports’ section of
our website.
GHG emissions are calculated in accordance with the GHG Protocol location-based methodology. All
Scope 1, 2 and 3 GHG emissions from our businesses are calculated on the equity share basis. This means
that emissions from our businesses and from joint ventures we have an ownership interest in have been
included. For joint ventures, the percentage of emissions included is based on our percentage ownership
of the joint venture.
The activity data used to calculate the main Scope 1 GHG emission sources is summarised below:
• Process emissions from limestone, soda ash, dolomite and clinker - Measured data obtained from
process weighing equipment, Enterprise Resource Planning system (ERP) system and stock surveys.
• Solid fuels (coal, waste end-of-life tyres) – Measured data obtained from process weighing
equipment and stock surveys.
• Solid biomass fuels (air dry wood, oven dry wood, biosolids) – Measured data obtained from process
weighing equipment, and for internal sources of solid biomass such as offcuts and sander dust,
calculations from product counts, or average product weights.
• Liquid fuels (diesel, petrol, fuel oil, biofuel) – Invoices and bulk data reports from suppliers.
• Gaseous fuels (natural gas, LPG, acetylene) – Invoices and bulk data reports from suppliers.
Scope 2 activity data (purchased electricity) was obtained from invoices and bulk data reports from
suppliers.
Scope 3 GHG emissions, those from our supply chain, were calculated in accordance with the GHG
Protocol. Scope 3 GHG emissions were assessed for all upstream supply chain categories and all
downstream categories other than processing, use and end-of-life treatment of sold products, and
downstream leased assets. Our reported Scope 3 GHG emissions for FY24 include data sourced directly
from our largest steel and cement suppliers. Supplier-specific data was used for c. 54% of reported Scope
3 GHG emissions.
The following GHG Protocol Supply Chain Categories are excluded from our reporting:
Use of sold products: The building products that we manufacture would be expected to be largely inert if
disposed of at the end of life. We have not assessed these impacts as yet, but have a project to do so as
part of a project associated with our LowCO
TM
residential building design.
Downstream leased assets: We do not lease any significant downstream assets.
Processing of sold products: The significant majority of our sold products are building supplies sold for
direct use in building and construction, and not reprocessed for final use. Therefore, processing of sold
Fletcher Building Limited Climate Statements 2024
38

6
Ministry for the Environment. 2023. Measuring emissions: A guide for organisations: 2023 detailed guide. Wellington: Ministry for
the Environment (MfE).
7
Australian National Greenhouse Accounts Factors Workbook 2023, Australian Government Department of Climate Change, Energy,
the Environment and Water (DCCEEW).
8
Conversion factors kg CO2 per £ spent, by SIC code 2020 from: UK and England’s carbon footprint to 2020 - GOV.UK (www.gov.uk)
products is not expected to have significant emissions but has not been evaluated.
For the balance of emissions, we have used emission factors from goods and services published by
the New Zealand
6
or Australian
7
Governments to convert the mass, volume or other units for goods
and services into tonnes of CO2 equivalents (t CO2e). Both the New Zealand and Australian government
emission factors use the 100-year time-horizon GWP (GWP100) values, as listed in table 8.A.1 of the Fifth
Assessment Report (AR5) of the IPCC. Where data on quantities of supply chain goods and services
was not available, we have estimated emissions using spend based factors, using the internationally
recognised DEFRA factor set
8
, corrected for exchange rates and inflation. The DEFRA factors use 100-year
time-horizon GWP (GWP100) values, as listed in table 2.14 of the Fourth Assessment Report (AR4) of
the IPCC.
As required periodically by the Greenhouse Gas Protocol accounting standard, we re-baselined our
emissions in FY23 to account for acquisitions, divestments, methodology changes and improved
availability of historic data. Re-baselining means that the GHG emissions and emission reductions are
based on what our real-world emissions would have been for all years from, and including, FY18 if the
boundary of our operations for those years had been the same as for FY23.
Scope 1 and 2 GHG emissions are calculated for our continuing operations and exclude emissions from
our Tradelink® business for FY24 and for all comparative years, including the FY18 baseline year. Tradelink®
contributed c. 2% of total Group emissions in FY24.
Uncertainties for Scope 1 and 2 GHG emission factors are disclosed in the relevant MfE and DCCEEW
publications referenced here. Uncertainties for Scope 1 and 2 activity data used in the GHG protocol have
an assumed qualitative uncertainty of 5%.
Activity data for > 99% of our Scope 1 and 2 GHG emissions has a qualitative uncertainty of ≤ 2%, with the
remaining < 1% having qualitative uncertainties ranging between 5-20%.
Activity data for 52% of our Scope 3 GHG emissions activity data has a qualitative uncertainty of ≤ 5%, with
the remaining 48% having qualitative uncertainties ranging between 20-50%.
Fletcher Building Limited Climate Statements 2024
39

Appendix E: Data sources used for the three scenarios
1. Increase in average global mean air temperature taken from: IPCC 2021. Summary for Policy Makers.
In: The Physical Science Basis. Contribution of Working Group I to the Sixth Assessment Report of
the Intergovernmental Panel on Climate Change. Data for Scenario One aligns with SSP1-1.9, data for
Scenario Two aligns with SSP1-2.6, and data for Scenario Three aligns with SSP3-7.0.
2. Percentage increase in average number of hot days per year has been taken from the Climate
Change Projections for New Zealand: Atmosphere Projections Based on Simulations from the IPCC
Fifth Assessment, 2nd Edition. Data for Scenarios One and Two align with RCP2.6 downscaling and
Scenario Three aligns with RCP 8.5 downscaling. Note there is significant variability between regions
for baseline (1986-2005) number of hot days per year, however, percentage changes are similar
across different locations.
3. Increase in rainfall intensity data has been taken from the Climate Change Projections for New
Zealand: Atmosphere Projections Based on Simulations from the IPCC Fifth Assessment, 2nd Edition.
Data for increase in rainfall intensity was calculated using projected increase in rainfall depth for a 12
hour, ARI 100yr ('1 in 100 year') rainfall event (as a proxy). Calculations for Scenarios One and Two are
based on the projected degree of warming for RCP2.6 and Scenario Three is based on the projected
degree of warming for RCP8.5.
4. Rainfall data for Australia provided by Australian Bureau of Meteorology.
5. Increase in extreme wind speeds data has been taken from the Climate Change Projections for New
Zealand: Atmosphere Projections Based on Simulations from the IPCC Fifth Assessment, 2nd Edition.
An approximate estimate for increased in wind speed at different timeframes was taken from tables
presented on page 106 of the MfE 2018 report referenced. The data for Scenarios One and Two was
taken from RCP2.6 projections and Scenario Three was taken from RCP8.5 projections.
6. Emissions trajectory data has been sourced from NGFS emissions modelling available on the NGFS
IIASA Scenario Explorer. The emissions trajectories for the scenarios presented in this report have
been aligned with the NGFS global emissions trajectories as follows: Scenario One aligns with NGFS
Net-Zero 2050, Scenario Two with NGFS Disorderly and Scenario Three with NGFS Hot-House World.
7. New Zealand population and age distribution projections taken from: Tatauranga Aotearoa / Stats
NZ 2020. National population projections: 2020 (base) - 2073. Data for scenarios one and two taken
as the 50th percentile for selected timeframes and data for Scenario Three was taken from the ‘High
Migration’ projections as a proxy for increased climate-driven migration under this scenario.
8. Average sea level rise (NZ) data taken from: Te Tai Pari o Aotearoa / NZ Sea Rise 2022. Maps: For
Public. Data for average NZ sea level rise was derived from a random data point with the vertical land
movement correction removed (this derives the same number across all data points). The data for
Scenarios One, Two and Three align with NZSeaRise projections for SSP1-1.9, SSP1-2.6 and SSP3-7.0
respectively. Timeframes for sea level rise data have been provided out to 2130, given that significant
variation in average sea level rise between scenarios will not be realised until beyond 2100.
9. Sea level rise data for Australia provided by Australian Bureau of Meteorology.
10. Projected changes in carbon, fossil fuel use, and energy efficiency for buildings have been estimated
under each scenario using MBIE’s Building for Climate Change programme intentions as a benchmark.
11. Carbon price and oil price projections taken from: He Pou a Rangi / Climate Change Commission
2021. Scenarios dataset for the Commission's 2021 Draft Advice for Consultation (output from
ENZ model). Carbon price and oil price data for Scenario One is aligned with the Climate Change
Commission’s ‘Tailwinds’ scenario. Scenario Two utilises a combination of the ‘Headwinds’ and
‘Tailwinds’ scenarios and Scenario Three aligns with ‘Current Policy Reference Case’.
12. Electricity grid emissions have been assigned a sensible estimate for each scenario at different
timeframes based on the Climate Change Commission’s Electricity Market Modelling Datasets 2021.
13. Relative change in labour productivity due to heat stress in NZ has been determined using the NGFS
Climate Impact Explorer. The projections use average annual temperatures and are displayed with
spatial aggregation method using a population-weighted average. The data for Scenarios One,
Two and Three align with NGFS Net-Zero 2050, Delayed Transition, and Current Policies scenarios
respectively.
Fletcher Building Limited Climate Statements 2024
40

14. Global GDP data is taken from NGFS projections in the NGFS IIASA Scenario Explorer. The data for
Scenario One aligns with NGFS Net-Zero 2050 and assumes a medium chronic physical risk damage
estimate. Scenario Two aligns with NGFS Disorderly and assumes a medium chronic physical risk
damage estimate. The data for Scenario Three aligns with NGFS Current Policies and assumes a high
chronic physical risk damage estimate. See Appendix G for limitations.
15. Net carbon emissions forestry data has been sourced from modelling completed by the Climate
Change Commission. Scenario One aligns with the ‘Tailwinds’ scenario, Scenario Two with
‘Headwinds’ and Scenario Three aligns with ‘Current Policy Reference Case’.
16. Climate Scenarios for the Construction and Property Sector, New Zealand Green Building Council
(NZGBC)
17. Combined Hazard Information Platform (CHIP) catastrophe risk-profiling tool developed by Aon.
Draws on seismological, meteorological, hydrological and other data from a range of curated
sources. Data linked to locations to allow detailed site exposure assessment for a range of hazards.
18. Smith M.H. (2013). Assessing climate change risks and opportunities for investors: Property and
Construction Sector, Investor Group on Climate Change (IGCC) and Australian National University
Report,
19. The Intergovernmental Panel on Climate Change Fifth Assessment Report (IPCC AR5) available at
https://www.ipcc.ch/report/ar5/wg2/
20. Ministry for the Environment 2018. Climate Change Projections for New Zealand: Atmosphere
Projections Based on Simulations from the IPCC Fifth Assessment, 2nd Edition. Wellington: Ministry
for the Environment.
21. Ministry for the Environment 2023. Our Atmosphere and Climate 2023
22. Intergovernmental Panel on Climate Change (IPCC). Climate Change 2013: The Physical Science
Basis.
23. State of the Climate 2022, CSIRO and Bureau of Meteorology, Australia.
Fletcher Building Limited Climate Statements 2024
41

Cautionary statement
The metrics, particularly targets, projections, forecasts and other forward-looking metrics used in this
report should be treated with caution, in particular given the uncertainty around the evolution and impact
of climate change and around broader factors, such as impacts and dependencies on nature.
These metrics include but are not limited to estimates of historical emissions and of historical climate
change and forward-looking climate and nature-related metrics and estimated climate and nature-related
projections and forecasts.
Any forward-looking statements included in these statements are current only as at the date of this
reporting period (30 June 2024), and should be treated with special caution. Readers are cautioned not to
place reliance on forward-looking statements in these statements.
Current, historic and future information in these statements relates to the continuing operations of
Fletcher Building, and does not include our Tradelink operations.
Although the forward-looking statements prepared or adopted by Fletcher Building and included in
these statements are based on management's current expectations, they are not certain and involve
judgements, attitudes, known and unknown risks, uncertainties and assumptions, many of which are
beyond Fletcher Building’s control, which may be affected by variables which may cause actual results,
performance, conditions, circumstances, outcomes or the ability to meet commitments and targets
contained in Fletcher Building’s forward-looking statements to differ materially from those expressed or
implied in such statements. Fletcher Building reserves the right to change its views in the future.
These statements should not be relied upon as a recommendation, forecast or guarantee by or
expectation of Fletcher Building, its related or controlled entities or officers, directors, employees or
agents. The forward-looking statements in these statements should be read in the context of the variables,
risks, uncertainties and other factors outlined in this notice or mentioned elsewhere in these statements.
The climate-related scenarios used in scenario analysis are not intended to be probabilistic or predictive.
Scenario analysis is a process for exploring the effects of a range of plausible future events under
conditions of uncertainty. Engaging in this process helps Fletcher Building identify its climate-related
risks and opportunities and develop a better understanding of the resilience of its business model and
strategy. These statements, including the Appendices, set out the methods and assumptions underlying
the climate-related scenarios used, and the scenario analysis employed. Readers are cautioned in their use
of such information in these statements and reminded that it is important to understand the limitations
applicable to the information presented.
Words or phrases such as 'will', 'should', 'expect', 'intend', 'plan', 'anticipate', 'effort', 'estimate', 'continue',
'could', 'expect', 'forecast', 'goal', 'guidance', 'intend', 'may', 'objective', 'outlook', 'potential', 'predict',
'projection', 'seek', 'target' or similar expressions that convey the prospective nature of events or outcomes
generally indicate forward-looking statements or other similar words, and include statements regarding
Fletcher Building’s intent, belief or current expectations with respect to Fletcher Building’s business and
operations, market conditions, results of operations and financial condition, capital adequacy and risk
management. By their nature, forward-looking statements involve significant risk and uncertainty. To the
maximum extent permitted by law, responsibility for the accuracy or completeness of any forward-looking
statements or any liability whatsoever (including for negligence) for any loss howsoever arising from any
use of these statements or reliance on anything contained in it or omitted from it or otherwise arising in
connection with these statements is disclaimed.
Fletcher Building does not make any representation or warranty (express or implied) as to the accuracy,
completeness, reliability, adequacy or reasonableness of any forward-looking statements prepared by
Fletcher Building Limited Climate Statements 2024
42

entities or persons other than Fletcher Building or matters (express or implied) contained in, or derived
from, any omissions from any such statements.
There is a risk that the judgements, estimates or assumptions and other forward-looking statements
made in these statements may subsequently prove to be incorrect. Except as required by applicable law,
Fletcher Building is under no obligation, and does not undertake, to update any of the forward-looking
statements contained within these statements to reflect changes to relevant risks, inputs, uncertainties,
or other factors, and/or Fletcher Building’s understanding of them. Forward-looking statements may be
affected by a number of uncertainties and factors, including but without limitation:
• a lack of common definitions and standards for climate-related data;
• the availability and quality of historical emissions data;
• a lack of transparency and comparability of climate-related forward-looking methodologies;
• variation in climate-related approaches, methodologies and outcomes;
• limitations of climate scenario analysis and the models that analyse them;
• calculations of forward-looking metrics are complex and require many methodological choices and
assumptions, including the assistance of one or more external data and methodology providers;
• uncertainty and changes to climate-related policy, laws and regulations;
• climate change disclosures are prone to inherent uncertainty and these statements reflects new
legal requirements;
• climate change reporting is subject to ongoing changes as the circumstances and impact of a
transition to a low-emissions economy and climate change develop in New Zealand and across the
world over a long period of time;
• climate-data, modelling and methodology is rapidly evolving, which may directly or indirectly
affect the metrics and data points used in the preparation of, and the targets contained in, these
statements; and
• changes arising out of market practices and standards, including emerging and developing ESG
standards.
Climate-related disclosures made in these statements are subject to risk factors associated with, amongst
other things, decarbonisation technologies, government action, consumer attitudes and potentially
carbon products and markets. Readers are also reminded that Fletcher Building's business and plans are
subject to risks that may cause actual results to differ materially from forward-looking statements.
Other notices
The material in these statements is general background information about Fletcher Building and its
activities as at the date of the statement, given in summary form. It is not intended to be relied upon
as advice to investors or potential investors and does not take into account the investment objectives,
financial situation or needs of any particular investor. Investors should consider these factors and consult
with their own legal, tax, business and/or financial advisors in connection with any investment decision.
Fletcher Building Limited Climate Statements 2024
43

Whiteboard
Laminex
®
Melamine
Panels on MDF Substrate
Environmental Product Declaration
In accordance with ISO 14025:2006 and
EN 15804:2012+A2:2019/AC:2021 for: Melteca
®
and
Whiteboard on MDF Standard by Laminex
®
New Zealand
Programme: The International EPD
®
System
www.environdec.com
Programme operator:EPD Australasia Ltd.
www.epd-australasia.com
EPD registration number:S-P-09357
Version: 1.0
Version date:2024-01-25
Owner’s Name: Laminex
®
New Zealand
Product name: Melteca
®
and Whiteboard
Valid from: 2024-01-25
Valid until: 2029-01-25
Geographical scope:New Zealand
The products covered in the EPD are listed on page 6.
EPD of multiple products, based on worst-case results.
An EPD should provide current information and may be
updated if conditions change. The stated validity is therefore
subject to the continued registration and publication at
https://epd-australasia.com/
BLACKMAX
®
AND SEWERMAX
®
POLYPROPYLENE PIPES
EPD OF IPLEX PIPELINES STRUCTURED WALL PIPES
ENVI RONMENTAL
PRODUCT DECLARAT ION
In accordance with ISO 14025 and EN 15804:2012+A2:2019 for:
BLACKMAX
®
AND SEWERMAX
®

POLYPROPYLENE PIPES
FROM I PL EX PIPE LI N ES AUS TRALI A PTY LI MI TED
Programme: EPD Au stralas ia, www.epd-australasia.com
Programme op erator : EPD Australasia
EPD registra tion number: S-P-00714
Publi catio n date: 2015-12-06
Valid until: 2027-11- 23
Version 2.0: 2022-1 1-23
Geogr aphic loca tion: Austra lia
Refer ence year for dat a: 2020- 2021
An EPD should provide current information and may be upda ted if conditions change.
The stated validity is th erefor e subject to the continued registration and publication a t
www.environdec. com
In accordance with ISO
14025 and EN15804+A2:2019
Programme:The International EPD
®
System
www.environdec.com
Programme
operator:
EPD Australasia
www.epd-australasia.com
EPD registration
number:
S-P-09352
Valid from: 2023-07-31
Valid until: 2028-07-30
Geographical
scope:
New Zealand
ASPHALT
ENVIRONMENTAL
PRODUCT
DECLARATION
JULY 2023
EcoSure
®
GP cement
Publication date: 2024-08-31
Version date: 2024-08-31
Valid until: 2029-08-30
Geographical scope: Global, based on manufacture in New Zealand
EPD Registration Number: EPD-IES-0012939:001
In accordance with ISO 14025 and EN 15804:2021+A2:2019/AC:2021
Programme: The International EPD
®
System www.environdec.com
Programme operator: EPD International AB
Regional programme: EPD Australasia Ltd.
R
Building a
Better Future
Delivering innovation to help reduce the impact on
the built environment in New Zealand
An EPD should provide current information and may be updated if conditions change. The stated validity is
therefore subject to the continued registration and publication at epd-australasia.com
Environmental
Product Declaration
Environmental
Product Declaration
For Aggregate and Sand Products
Programme:
Programme operator:
EPD registration number:
Publication date:
Valid until:
EPD Australasia, https://epd-australasia.com/
EPD Australasia
S-P-04664
2022-02-23
2027-02-23
Geographical scope of EPD: New Zealand
EPD of construction products may not be comparable if they do not comply with EN 15804.
In accordance with ISO 14025 and EN 15804+A1 for WINSTONE AGGREGATES
Whiteboard
Laminex
®
Melamine
Panels on Particleboard
Environmental Product Declaration
In accordance with ISO 14025:2006 and
EN 15804:2012+A2:2019/AC:2021 for: Melteca
®
and Whiteboard
on Superfine
®
Standardand MR by Laminex
®
New Zealand
Programme: The International EPD
®
System
www.environdec.com
Programme operator:EPD Australasia Ltd.
www.epd-australasia.com
EPD registration number:S-P-09356
Version: 1.0
Version date:2024-01-25
Owner’s Name: Laminex
®
New Zealand
Product name: Melteca
®
and Whiteboard
Valid from: 2024-01-25
Valid until: 2029-01-25
Geographical scope:New Zealand
The products covered in the EPD are listed on page 6.
This EPD is of multiple products, based on worst-case results.
An EPD should provide current information and may be
updated if conditions change. The stated validity is therefore
subject to the continued registration and publication at
https://epd-australasia.com/
ENVI RONMENTAL
PRODUCT DECLARATI ON
In accordance with ISO 14025 and EN 15804:2012+A2:2019 for:
PVC NON-PRESSURE PIPES
FROM IPLEX PI PELINES AUSTRALIA PTY LI MITED
Programme: EPD Australas ia, www.epd-australasia.com
Programme operator : EPD Australasia
EPD registration n umber: S-P-00713
Publ ication dat e: 2015-12-06
Valid until: 2027-11- 23
Version 2 .0: 2022-1 1-23
Geogr aphic loca tion: Australia
Refer ence year for data: 2020-2021
An EPD should provide curr ent information and may be updated if conditions change.
The stated validity is th erefore s ubject to the continued registration an d publi cation at
www.envi rond ec.com
Programme: EPD Australasia, https://epd-australasia.com/
Programme operator: EPD Australasia Limited
EPD registration number: S-P-09350
Valid from: 2023-07-31
Valid until: 2028-07-31
Geographical scope of EPD: New Zealand
Environmental
Product Declaration
In accordance with ISO 14025 and EN 15804+A2:2019 for:
Precast Concrete
Products
WWW.HUMES.CO.NZ
An EPD should provide current information and may be updated if conditions change.
The stated validity is therefore subject to the continued registration and publication at
www.epd-australasia.com
R
Building
a Better
Future
Delivering innovation to help
reduce the impact on the built
environment in New Zealand
Fast
EcoFast
®
HE cement
Publication date: 2024-08-31
Version date: 2024-08-31
Valid until: 2029-08-30
Geographical scope: Global, based on manufacture in New Zealand
EPD Registration Number: EPD-IES-0012938:001
In accordance with ISO 14025 and EN 15804:2021+A2:2019/AC:2021
Programme: The International EPD
®
System www.environdec.com
Programme operator: EPD International AB
Regional programme: EPD Australasia Ltd.
An EPD should provide current information and may be updated if conditions change. The stated validity is
therefore subject to the continued registration and publication at epd-australasia.com
Environmental
Product Declaration



Environmental Product Declaration
ZinaCore™/ZinaCore™ PLUS 0.4mm
(NZ)


Programme: The International EPD® System, www.environdec.com
Programme operator: EPD International AB
Regional programme operator: EPD Australasia, https://epd-australasia.com/
EPD owner: Pacific Coilcoaters a subsidiary of Fletcher Steel Ltd.
EPD registration number: EPD-IES-0015767:001
Validity: From: 2024-08-31 Until: 2029-08-31
Version number: 1.0
Geographical scope of EPD: New Zealand



In accordance with ISO 14025 and EN 15804+A2:2019/AC:2021
An EPD should provide current information and may be updated if conditions change.
The stated validity is therefore subject to the continued registration and publication at https://epd-australasia.com/
Environmental Product
Declaration
Environmental Product Declaration
In accordance with ISO 14025 and EN 15804+A2:2019
for: Superfine
®
(Standard and MR)
by Laminex
®
New Zealand
Programme: The International EPD
®
System
www.environdec.com
Programme operator: EPD Australasia Ltd.
www.epd-australasia.com
EPD registration number: S-P-09355
Owner’s Name: Laminex
®
New Zealand
Product name: Superfine
®
Valid from: 2023-11-27
Valid until: 2028-11-27
Geographical scope: New Zealand
The products covered in the EPD are listed on page 6.
An EPD should provide current information and may be
updated if conditions change. The stated validity is therefore
subject to the continued registration and publication at
https://epd-australasia.com/
DECEMBER 2021
EPD - PVC PIPES
Environmental Product Declaration
Polyvinyl Chloride PVC-O, PVC-M, PVC-U
Environmental Product Declaration
Produced under the Australasian EPD
Programme in Accordance with ISO 14025 and
EN15804:2012+A1:2013.
EPD registration number: S-P-03729
Version: 1.0
Valid until: 2026-12-17
Geographical scope: New Zealand
Programme operator: EPD Australasia
Date of publication: 2021-12-17
AUSTRALASIA
Programme: EPD Australasia, https://epd-australasia.com/
Programme operator: EPD Australasia Limited
EPD registration number: S-P-09349
Valid from: 2023-07-31
Valid until: 2028-07-31
Geographical scope of EPD: New Zealand
Environmental
Product Declaration
In accordance with ISO 14025 and EN 15804+A2:2019 for:
Reinforced Concrete
Pipes (RCP)
WWW.HUMES.CO.NZ
An EPD should provide current information and may be updated if conditions change.
The stated validity is therefore subject to the continued registration and publication at
www.epd-australasia.com
ENVIRONMENTAL PRODUCT DECLARATION
1
Environmental
Product
Declaration
For ready-mixed concrete
+
SEPTEMBER 2020
AUSTRALASIA
In accordance with ISO 14025 and EN 15804+A1 for:
FIRTH CERTIFIED READY-MIXED CONCRETE
Programme: EPD Australasia, www.epd-australasia.com
Programme operator: EPD Australasia Ltd
EPD registration number: S-P-02050
Publication date: 18/09/2020
Valid until: 18/09/2025
Geographical scope
of EPD: New Zealand



Environmental Product Declaration
MagnaFlow™/MagnaFlow™ PLUS
0.4mm (NZ)


Programme: The International EPD® System, www.environdec.com
Programme operator: EPD International AB
Regional programme operator: EPD Australasia, https://epd-australasia.com/
EPD owner: Pacific Coilcoaters a subsidiary of Fletcher Steel Ltd.
EPD registration number: EPD-IES-0015769:001
Validity: From: 2024-08-31 Until: 2029-08-31
Version number: 1.0
Geographical scope of EPD: New Zealand



In accordance with ISO 14025 and EN 15804+A2:2019/AC:2021
An EPD should provide current information and may be updated if conditions change.
The stated validity is therefore subject to the continued registration and publication at https://epd-australasia.com/
Environmental Product
Declaration for GIB
®

Plasterboard

Programme:



Programme operator:

EPD registration number:
Updated version:
Date of publication:
Valid until:
Geographical scope:
The International EPD
®
System
www.environdec.com
The Australasian EPD
®

Programme Ltd
www.epd-australasia.com
EPD International AB
EPD Australasia
S-P-01000
Ver sion 2.1
2023 - 07-12
2028-07-03
New Zealand
PRODUCED UNDER THE AUSTRALASIAN EPD PROGRAMME IN
ACCORDANCE WITH ISO 14025:2006 AND EN 15804:2012+A2:2019
DECEMBER 2021
EPD - PE PIPES
Environmental Product Declaration
Polyethylene PE 100 & PE 100 Mobile Extrusion
Environmental Product Declaration
Produced under the Australasian EPD
Programme in Accordance with ISO 14025 and
EN15804:2012+A1:2013.
EPD registration number: S-P-03728
Version: 1.0
Valid until: 2026-12-17
Geographical scope: New Zealand
Programme operator: EPD Australasia
Date of publication: 2021-12-17
AUSTRALASIA
Programme: EPD Australasia, https://epd-australasia.com/
Programme operator: EPD Australasia Limited
EPD registration number: S-P-09351
Valid from: 2023-07-31
Valid until: 2028-07-31
Geographical scope of EPD: New Zealand
An EPD should provide current information and may be updated if conditions change.
The stated validity is therefore subject to the continued registration and publication at
www.epd-australasia.com
Environmental
Product Declaration
In accordance with ISO 14025 and EN 15804+A2:2019 for:
Precast Concrete
Sleepers
WWW.HUMES.CO.NZ
Firth Masonry Group A products with a GWP-GHG intensity
of 59.4 kg CO
2
e/m
2
to 68.9 kg CO
2
e/m
2
Programme: The International EPD
®
System www.environdec.com
Programme operator: EPD International AB
Regional programme: EPD Australasia Ltd.
EPD Registration No. EPD-IES-0016342
Date of publication (issue): 2024-08-28
Date of validity: 2029-08-28
Version No.: 1.0
Geographical scope: New Zealand
An EPD should provide current information and may be updated if conditions change. The stated validity is therefore subject to
the continued registration and publication at https://epd-australasia.com/
EPD of multiple products, based on a representative product, includes: Garden Wall Retaining and Compac IV
Retaining, in specific colours and finishes. Refer pages 5 for full detailed list.
Environmental Product Declaration
In accordance with ISO 14025:2006 and EN 15804+A2:2019/AC:2021
Environmental
Product
Declaration
In accordance with
ISO 14025 and EN 15804+A2:2019 for:
Aluminium & Window Systems
ProgrammeThe International EPD® System | www.envirodec.com
Programme operatorEPD Australasia Limited | www.epd-australasia.com
EPD registration numberS-P-07443
Valid from2023-07-30
Valid until2028-07-30
Geographical scope of EPDNew Zealand
Embodied carbon information can be found in our Environmental Product Declarations
which are all available on the EPD Australasia website

---

Fletcher Building Limited, Private Bag 92114, Auckland 1142, 810 Great South Road, Penrose, Auckland 1061, New Zealand


Climate Statements 2024

Auckland, 29 October 2024: Fletcher Building Limited presents its inaugural Climate
Statements for the year ended 30 June 2024.

ENDS

Authorised by:
Haydn Wong
Company Secretary

For further information please contact:

MEDIA
Christian May
General Manager – Corporate Affairs
+64 21 305 398
Christian.May@fbu.com
INVESTORS AND ANALYSTS
Aleida White
Head of Investor Relations
+64 21 155 8837
Aleida.White@fbu.com