A1 Waste Management - Achievement Cleaning Services - ACIL Allen Consulting - ACT-ABC-Hub - Admusic - AkzoNobel - Allfire Design - Alpha Magnetics - Anton Hartley Colour City Painting - Arid Zone - ARK Testing - Assetlink Services - Ausecology - Aussie Brewery Tours - Austin Health - Australia In Style - Australian UAV - Autopia Management - AVCAL - Awardsandtrophies.com.au - Axios IT - Bank Australia - Banyule Community Health - Barefoot Renovations - Bayside City Council - Bendigo Bank - Benedict Industries - Binleti - BIRPAI LALC - Blackwood Outdoor Specialist School - Brainstorm Productions - Brandee Meier Photography - Brochures DM - Brunel Worldwide Chauffeur Drive - Business Fuel Cards - Cabinet de Luxe - Campisi’s Continental Butchery - CAP Industries - Capital Transport Group - Captain Cleanup - Car Next Door - Carbon Training International - Cardlink Systems - Carissa Hill - Carsales - Catalyst ONE - Chapman Consulting - Churches of Christ in Queensland - Citipower and Powercor - City of Casey - City of Whittlesea - City Water Technology - Complete Plumbing Contracting - Connections UnitingCare - Corangamite Catchment Management Authority - Craft International - Crooked Compass - Currie Communications - David Cherry & Associates - David Rastrick - Daylesford & Hepburn Mineral Springs Co - Deakin University - Department of Housing and Public Works - Department of National Parks, Sport and Racing - Department of Social Services - Direct Services - Disney AUNZ - Dr Christos Pavlidis - E3 Products - Eastern Commercial Furniture - Eastern Regional Libraries Corporation - Eco Logical Australia - Ecodesign - ecoDesign ecoPrint - Eco-Logic - Ecoprint Supplies - Ecosmart Ecology - Ecoteam - EdamameYA - Edible Eden Design - Eggpicnic - Elaeocarpus - Elite Moves - Elliteer - Engage Consulting Group - EnviroGain - EnviroRisk Management - Epuron - Ethical Investment Advisers – SHERWOOD - Europcar - Eyre Automotive - Fair Deal Property - Farm Fresh Organics - Ferguson Plarre Bakehouses - Ficus Landscape - First Ray - Foresight International - Formulate Information Design - Frisky Corp - Fun Over 50 - Gearon Civil - Gippsland Waste and Resource Recovery Group - Global Ballooning - Go West Tours - GoFar - Gold Coast Yoga Centre - Goldborough Trust - GOLOG - Gonsalves and Shek - Goodwill Wine - Green Energy Trading - Groundtruth Mapping Systems - Hamilton Environmental Services - Hansfap - Happsa Group - Hobart School of Iyengar Yoga - Holden Leasing - Hound About - Hunter Hall International Limited - Illawong Ski Tourers Incorporated - Impact Digital - Infoactiv - Irons McDuff Architecture - IT Services Direct - Jacks Five Foundation - Jewell Body Sculpting - JJ Coleman Plumbing - Kaycee Excavations - Keep Australia Beautiful (WA) - Kent Relocation Group - Kings Transport - Kombu Wholefoods - Kookaburra Coaches - Kosciuszko Thredbo - Kumho Tyre Australia - La Trobe University - Lamaro Plumbing - Land Assessment - Landserv - LeasePlan Australia - Liftronic - Man With A Van - Marmalade Melbourne - Maroondah City Council - McCloud Shoes - MCH Holdings - McPherson’s Printing Group - Mercy Services - Meritus Wines - Methodist Ladies College - Metwest Engineering - MG Cultural Fund - Mitsui & Co. (Australia) - MKT Communications - Momentum - Monash University - Montgomery Homes - Mosman Council - Mr Burger - Mr John Tours - Must Have Mustangs and Hire Cars - N Stenning & Co - Nash Timbers - Natural Grace - Next Facilities Group - Northmost - NXT Generation Accounting - Oasis Tree Management - OCTEC - OfficeMax - One Planet - ONEgroup - Organic Capital - Paper Agencies - Paper-Go-Round - Parramatta City Council - Paywise - Penrith Lakes Environmental Education Centre - Perth Landscaping Creations - Pitcher Partners - Positive Footprints - Priceline Pharmacy Horsham - Printgraphics - QOTE - QRMC Risk Management - Qudos Bank - RACV - Rapid Construction - Red Pony - Research & Design Solutions - Residential Outdoor Schools Association - River House Catering - Robert Walters - Rubicon Outdoor Centre - SAS Institute Australia - Sassy Treats - Self Storage Plus - Servcorp Administration - Serversaurus - Smartsalary - Smolders Revegetation - Snap Preston - Solar Bins Australia - Somers School Camp - Southern IML Pathology - Southern Rural Water - SPARTAN - Splash Into... - Splend - St John of God Frankston Rehabilitation Hospital - St Kilda Tourism - Straddie Camping - Sure Gro Tree Max Australia - Sustainable Living Fabrics - Sydney Airport - Sydney Harbour Federation Trust - Sydney Opera House - Symbion - Systems Pest Management - Technical Software Solutions Australia - Telstra - The Australian Psychological Society - The Body Shop Australia - The Diggers Club - The Enviro Group - The Michels Group - The Park Cafe Goulburn - Thor’s Hammer - TMK Consulting Engineers - Tour Gold Coast - Toyota Tsusho (Australasia) - Treezy - TT Logistics (Australasia) - Ubermen - United Facility Group - UnitingCare lifeAssist - Universal Power & Light - University of Melbourne - University of Melbourne Commercial - University of South Australia - Upper Murray Health and Community Services - Urban Street Food - UrbanGrowth NSW - Vaisala - W A Morris Consulting - WA Machinery Hire & Sales - Waratah Professional Tree Care - Warrigal - Westcoast Indigenous Nursery - Whitehorse Manningham Regional Library - Wise Connections - WMC Public Relations - XPower - YHC Lawyers - YMCA Victoria

ANNUAL REVIEW

234,100TREES PLANTED IN 2016

475FORESTS CREATED SINCE 1997

8.9+ million TREES PLANTED SINCE 1997

2.8+ millionTONNES OF CO2-e OFFSETS CONTRIBUTED SINCE 1997

8,090+HA OF NATIVE FORESTS PLANTED SINCE 1997

19 years RESTORING BIODIVERSE FORESTS

3,000+DONATIONS RECEIVED IN 2016

FIRST EVERCARBON RIGHTS ON PUBLIC LAND

Gearing up for our 20th anniversary

At Greenfleet, we connect people with real climate action, by linking climate action with biodiversity restoration across Australia and New Zealand. Your continued support has helped us achieve a lot in 2016 and we are well placed to continue to thrive in the coming years.

In 2016, we’re proud to have become the first ever organisation in Australia, and possibly the world, to be provided with carbon rights on public land.

In Queensland, we partnered with Queensland Trust for Nature to rebuild koala habitat at Koala Crossing; we planted the first tree in the Barolin Nature Reserve - a step towards the biggest tree planting project ever undertaken in the Bundaberg Region; and we teamed up with Disney to launch ‘Remember the Reef’ – a campaign to raise awareness and funds to restore ecosystems along the Great Barrier Reef.

In Victoria, we launched the Upper Stony Creek Transformation Project - a revegetation project set to transform a concrete drain into an urban green oasis in Melbourne’s west; we kick-started our Great Ocean Road Restoration Program to restore native habitat along this landmark; and we became Founding Partners of the TAKE2 initiative to highlight the importance of climate action in the community.

In New South Wales, we added one more forest to our portfolio in the Kosciuszko National Park and continued our revegetation work with our supporters in Sydney’s west.

In New Zealand, we expanded our partnerships and our impact by securing a large reforestation program with the Auckland City Council.

With our 20th anniversary, 2017 promises even more. Key priorities for 2017 include driving innovation in different areas of the organisation; working with the Gold Standard Foundation to accredit our forests; diversifying our partnerships and growing our supporter base; and developing our land pipeline.

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. We look ahead to an exciting 2017.

Wayne Wescott | Greenfleet CEO

FROM THE CEO

2016 was a big year for Greenfleet!Following the Paris Conference of Parties in 2015, the focus this year has been on the implementation of emissions reduction across our Australian community, as well as thinking through the resilience needs of our country.

After the federal election in July, there remains divergent approaches from our governments on climate policy. Major issues around energy security, the development of future energy supply infrastructure and the setting of targets for 2030 and beyond remain problematic.

Within this context, Greenfleet focuses on remaining apolitical, developing smart approaches across the political divide and urging real climate action from all parties.

In 2016, we also invested in our own future by purchasing an office as well as creating new innovative projects in Western Melbourne and Bundaberg, so that the financial future of the organisation remains strong, and we can ensure that our long-term work is secured.

I would like to acknowledge the work of the other Directors on the Board, as well as the work of the Business Advisory Council and the Greenfleet staff. I would also like to thank all supporters and stakeholders for their time, resources and endless enthusiasm. Together, we continue to make a tangible impact and we look ahead to working with all of you in 2017.

Gunther Jurkschat | Greenfleet Chairman

FROM THE

CHAIR

2

2015 & 2016FINANCIALS

Greenfleet’s financial year operates from 1 January to 31 December. The following information summarises financial performance for 2016, and provides a comparison to 2015. Greenfleet’s Financial Reports have been audited by Pitcher Partners.

INCOME

EXPENSES

Program revenue

Other revenue

Total revenue

Forestry, planting & maintenance

Supporter engagement

Thought-leadership & research

Administration

Other expenses

Total expenses

OPERATING SURPLUS

2015$

2,693,203

150,763

2,843,966

1,460,156

507,793

362,972

206,288

1,358

2,538,567

305,399

2016$

2,885,930

71,836

2,957,766

868,776

522,302

199,219

542,714

-

2,133,011

824,022

2016 REFORESTATION PROGRAM UPDATE

In 2016, Greenfleet revegetated 275 hectares of land with native trees across 12 sites in Australia and New Zealand: 8 in Victoria, two in NSW, one in Queensland and one in New Zealand. The team monitored 2,688 hectares of forests already planted and inspected 24 new sites for reforestation work in 2017.

2016 GREENHOUSEGAS INVENTORYIn 2016, Greenfleet’s operationsgenerated just over 69 tonnes of CO2-e.Greenfleet will offset these emissions viaour native reforestation program. 48%

19%

33%

Scope 1(fuel)

Scope 2(electricity)

Scope 3(flights, waste, paper consumption, taxis)

69tonnes of CO2-e

100%carbon offset

Varrowville, NSWGreat Ocean Road, Vic Te Muri, New ZealandKoala Crossing, QLD

(1)

(2)

(1) An accounting methodology change in 2016 resulted in forestry expenditure appearing lower than the historical average.(2) Increased in expenditure relates in part to office move, including IT infrastructure and maintenance, and expanding operations in New Zealand.

3

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 (until Feb. 2017)

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

Our teamWe are a team of sustainability professionals with decades of experience in climate change leadership and ecosystem restoration. 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, universities, councils, companies and government agencies taking real climate action with Greenfleet. Your support makes a genuine and tangible positive difference to climate change and the natural landscape in Australia and New Zealand.

CEOWayne Wescott

General ManagerMichelle Sheehan

General Manager ReforestationMichael Coleman

General Manager Corporate PartnershipsJustin Glass

NZ ManagerRob Small

Admin Manager(until June 2016)

Marlise Vickery

Admin Coordinator Christine Luong

Manager Supporter EngagementGreta Korthaus

Marketing CoordinatorAline Riche

4

Jack HoldenDavid LambBlair Lindsay (until Dec. 2016)

Angela 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 MaughanChris MunroBrendan 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 Coordinator(until June 2016)

Louisa Taylor

Events & Engagement Coord.(from June 2016)

Taylor Eisen

Forestry Team LeaderEoghan O’Connor

Revegetation Projects OfficerDavid Parker

AmbiusBaker & McKenzieConnecting UpEuropcarGoogle Adwords

Pitcher PartnersSalesforce FoundationWCSWilson Parking

Greenfleet Australia ACN 095 044 465Level 4, 517 Flinders Lane Melbourne VIC 3000 | PO Box 16011 Collins Street West VIC 8007

Free Call 1800 032 999 T +613 9642 0570 E info@greenfleet.com.au www.greenfleet.com.au