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ANNUAL REVIEW

115,000TREES PLANTED IN 2015

424FORESTS RESTORED SINCE 1997

8.7+ million TREES PLANTED SINCE 1997

2.7+ millionTONNES OF CO2-e OFFSETS CONTRIBUTED SINCE 1997

2,148HA OF NATIVE FORESTS MONITORED IN 2015

18 years RESTORING BIODIVERSE FORESTS

3500+DONATIONS RECEIVED IN 2015

FIRST EVERPLANTING IN NEW ZEALAND

In 2015, we have put into place the elements of our organisation for future growth and greater impact.

We created an engagement approach which is directly connecting our supporters to the forests that we plant on their behalf, thanks to a combination of social media, planting days, stakeholder lunches and events, as well as a more interactive conversation. Our forestry team has commenced the Gold Standard validation process for our major site in 2015, Kara Kara, and has done significant work developing highly sophisticated mapping of all of our sites. We have completed some much-needed work on our internal systems to ensure that we make it easy for supporters to understand how to work with us and where their donations are going.

As the Paris Conference of Parties showed, many businesses want to be able to take practical climate action. Our work continues to expand with existing supporters, while we build new approaches with innovative technologies, local governments, financial services, fundraising models and new products such as blue carbon (mangroves, seagrasses and saltmarsh that sequester carbon). Our expansion in New Zealand means we are engaging with even more organisations and enabling them to take real climate action locally.

As always, we are indebted to the wonderful circle of supporters, staff, colleagues, Board and BAC members, consultants and other advisors that surround and enrich our work. Please feel free to connect with me directly with any questions, comments, inspired ideas or partnership approaches.

Wayne Wescott | Greenfleet CEO

FROM THE CEO

2015 has been an exciting year for Greenfleet. In our eighteenth year of operation as a not-for-profit, we are conscious of the ongoing responsibility that we have to contribute to the climate action agenda and the biodiversity approach that we have created.Over time, we have seen the slow understanding of the need for climate action, the establishment and then retraction of a carbon price, the creation of a new mechanism (the Emissions Reduction Fund) for climate action as well as many different approaches to planting trees and forests around the country.

2015 culminated in the Paris COP, at which Greenfleet was represented by our CEO. From that event, many new ideas have sprouted and we hope to follow them through in 2016.

In this first year as Chair of the Greenfleet Board, I am particularly pleased that we were able to honour the work done in the past while seeking to be an innovative and highly engaged partner with other organisations. This year, we successfully expanded our reforestation work across the Tasman Sea with our first planting at Atiu Creek near Auckland, New Zealand. We welcomed new members to our Board, while continuing to develop the important Business Advisory Council, which provides critical connections to our supporter base.

I would like to thank our supporters and landholders for their work with us through this year, as well as our staff who work hard to implement our collective vision.

Gunther Jurkschat | Greenfleet Chairman

FROM THE

CHAIR

2

3

2014 & 2015FINANCIALS

Greenfleet’s financial year operates from 1 January to 31 December each year. The following information summarises financial performance for 2015. Greenfleet’s Financial Reports have been audited by Pitcher Partners.

INCOME2015

$2014

$

EXPENSES

Program revenue

Other revenue

Total revenue

2,693,203

150,763

2,843,966

2,658,569

144,030

2,802,599

Forestry, planting & maintenance

Supporter engagement

Thought leadership & research

Administration

Other expenses

Total expenses

1,460,156

507,793

362,972

206,288

1,358

2,538,567

1,401,926

661,912

207,766

289,762

-

2,561,366

OPERATING SURPLUS 305,399 241,233

Some income and expense items have been re-categorised in 2015. These re-categorisations have been applied to the 2014 figures for consistency. Total revenue and total expenses for 2014 remain unchanged.

2015 REFORESTATION PROGRAM UPDATE

In 2015, Greenfleet revegetated 117.86 hectares of land with native trees across four sites in Australia and New Zealand. The team monitored 2,148 hectares of forests already planted and inspected 9 new sites for reforestation work in 2016.

2015 GREENHOUSE GAS INVENTORYIn 2015, Greenfleet’s operations generated just over 72 tonnes of CO2-e. Greenfleet will offset these emissions via our native reforestation program.

Other Scope 3 emissions(staff commute, waste,

paper usage, etc.)

Scope 1 & 3 emissions(transport)

Scope 2 & 3 emissions(stationary energy)

72 tonnes of CO2-e

100% carbon offset60%

17%

23%

Darnum, Vic Varroville, NSW Kara Kara, Vic Atiu Creek, NZ

GOVERNANCEBoard membersThe Greenfleet Board is drawn from a wide variety of academic and commercial backgrounds. This broad experience helps ensure that Greenfleet is well positioned in the carbon marketplace and can continue to offer solutions to individuals and businesses throughout Australia and New Zealand.

Gunther Jurkschat (Chair)Phil Thomas (Company Secretary)The Hon. Tom RoperSamantha Brignell

Business Advisory Council membersRoger Perry (Chair)Chris BalfourYvonne BruceGreg CammJoan Fitzpatrick

Our teamWe are a team of respected sustainability professionals with decades of climate change leadership and technical expertise in creating practical solutions for leading organisations. The Greenfleet team brings together skills and experience gained through careers in finance, professional services, forestry, science and other not-for-profit environmental organisations.

Our supportersThank you to our supporters – the individuals, families, community organisations, companies and government agencies which take real climate action by offsetting carbon emissions through Greenfleet’s native reforestation program. Your support enables us to have a greater impact on climate change and restoring the natural landscape in Australia and New Zealand.

CEOWayne Wescott

General ManagerMichelle Sheehan

GM ReforestationMichael Coleman

GM Corporate RelationshipsJustin Glass

NZ ManagerRob Small

Admin ManagerMarlise Vickery

Admin Coordinator (until Sept. 2015)Diana Drury

Admin Coordinator (from Sept. 2015)Christine Luong

Corporate Engagement CoordinatorGreta Korthaus

4

Jack HoldenDavid LambBlair LindsayAngela McClowry

Greenfleet’s Business Advisory Council is a group of executives from a range of industries, providing professional expertise and helping to promote the Greenfleet program and ethos throughout their industries.

Philip GentryTony MaughanBrendan MurphyElliot Smith

Pro-bono partnersWe would like to acknowledge and give a special thank-you to the following organisations which generously provide services or products pro-bono to Greenfleet. Their support is also making a big difference!

Marketing CoordinatorAline Riche

Marketing CoordinatorLouisa Taylor

Forestry Team LeaderEoghan O’Connor

Revegetation Projects OfficerDavid Parker

AmbiusBaker & McKenzieConnecting UpEuropcarGoogle Adwords

Pitcher PartnersSalesforce FoundationWCSWilson Parking