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Sustainability

Our sustainability vision is aligned with our purpose “Making space for greatness” which is designed to address the needs of all our stakeholders.

Sustainability is about long-term thinking and leadership. We’ve always taken a sustainable approach that leads to positive economic, environmental and social outcomes for our business, our stakeholders and the world more broadly.

Our 2030 Sustainability Strategy is structured around three pillars. These are linked to a set of material issues, with each pillar backed by short and long-term environmental, social and governance targets.

Property

Goodman focuses on securing key sites for properties that will stand the test of time. We know that well located, designed and managed properties are better prepared for the challenges of tomorrow. They are more flexible to meet customer needs, support their ongoing health and well-being, and are more resilient to climate impacts and generally experience higher occupancy rates. This maximises their asset value and is a sign that the properties are being used efficiently.

 

Material issues

  • Sustainable design and management
  • Strategic locations
  • Customer attraction and retention
  • Climate risk and resilience
  • Carbon reduction strategies
  • Smart energy solutions
  • Flexible and adaptable properties.
 

Targets

  • 100% renewable energy use within our operations by 2025
  • 100MW of solar PV in operation by 2025
  • Carbon neutral operations by 2025
 

People and culture

To achieve success, any organisation needs great people. That’s why we base our recruitment around merit, local knowledge and cultural fit. We’re always on the look-out for smart people who are aligned with our values and long-term thinking. Once on board, we incentivise our team to think strategically, work collaboratively and undertake programmes to improve their well-being. 

We also think beyond the needs of just our internal team and actively support our customers and suppliers, too. We have aligned commitments to their workforces and have a plan to expand our business ethics programme to look at the human rights and social equity aspects of our global supply chains.

 

Material issues

  • Workplace safety
  • Group and regional leadership
  • ESG performance targets
  • Diversity and inclusiveness
  • Promotion of the Goodman values
  • Social equity
  • Customer well-being.
 

Targets

  • Safe working environment
  • Global supply chain ethics policy
  • Gender ratio of 50/50
  • 100% of employees demonstrating Goodman’s values
 

While our purpose is clear at Goodman, our approach is adaptable, as we want to stay relevant in a changing world.  

We finance ourselves with sustainable capital with low debt levels which helps us to stay active during different market cycles. We value the trust of our stakeholders and the chance to make a difference in the communities in which we operate. Learn about the Goodman Foundation.

Goodman has participated in the leading ESG survey for the real estate sector, GRESB, for eight years. Our ESG performance is analysed and scored, providing detailed insights to investors.

 

Material issues

  • Sustainable operations and results
  • ESG Governance
  • Responsible investment
  • Environmental stewardship
  • Sustainable capital structure
  • Stakeholder and community engagement
  • Effective and regular disclosures.
 

Targets

  • Retain investment grade credit rating
  • TCFD aligned disclosures by 2022
  • 4 Green Star GRESB rating average
  • $50m in social investment by The Goodman Foundation by 2030
 

Group sustainability approach

We view sustainability as an approach that leads to positive economic, environmental and social outcomes for our business, our stakeholders and the world more broadly.

Our approach is based on addressing a range of material ESG issues and embedding specific programmes and targets across our global operations. Our approach aims to: 

  • Define Goodman’s ESG policy and the sustainability commitments from our Board  
  • Support Goodman’s long-term business strategy while responding to global challenges such the UN Sustainable Development Goal’s 
  • Seek alignment between our sustainability priorities of those of our customers and capital Partners
  • Ensure timely and effective ESG-related disclosures valued by the investment sector
  • Engage with our people and supply chain to encourage sustainable environmental and social outcomes

View sustainability reports

UN Sustainable Development Goals

The UN Sustainable Development Goals (SDGs) address the world’s most significant challenges such as poverty, the planet, gender equality, clean water and climate change.

We have identified nine of the 17 SDGs as most relevant to our business.

UN Sustainable development goals

Addressing climate risk

Goodman supports the Paris Agreement goal to reduce global carbon emissions to limit the average temperature rise to below two degrees celsius. In doing so, Goodman’s Board has committed to addressing climate risk at the highest level of the organisation, gain a better understanding of potential risks and identify meaningful actions. This includes a commitment to climate-related disclosures aligned with the TCFD guidelines.

Our approach to managing climate risks will be incorporated into Goodman’s risk management framework and our responses will be based on long-term outcomes. These include our commitments to using renewable energy, onsite energy solutions and carbon neutral operations.

Building resilience and adaptation

Goodman has implemented initiatives across its investment, funds management, development and property management operations to improve the resilience of its developments. These include enhancements to our designs, investment locations, energy options and property management initiatives. Goodman’s standard development specifications include sustainable design initiatives such as:

LED lighting

LED lighting

Warehouse design

Flexible warehouse design

Landscaping

Drought-tolerant native landscaping

Rain harvesting

Rainwater harvesting

Global supply chain ethics

Goodman is committed to good business ethics and the protection of human rights across its supply chain. Our supply chain consists of small, medium and large-scale suppliers who we partner with to help deliver our property development, property management and funds management activities.

We want our supply chain free of any form of modern slavery, including human trafficking, child labour or human rights abuses. Goodman will not knowingly engage in these practices, or partner with any supplier who engages in these practices and, has begun to gather more information on where it may
be present.

 

Global Real Estate Sustainability benchmark

The Global Real Estate Sustainability Benchmark (GRESB) is a world leading sustainability assessment for commercial real estate.
Goodman has been an active participant in GRESB since 2012, during which time we have continually improved our scores and increased the number of Goodman’s participating entities.

In FY19, Goodman Group and the Goodman Japan Partnership achieved 5 Stars and were awarded Sector Leader in the 2019 GRESB survey for their respective peer groups. Goodman Group scored 21% higher than its peer group average.