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Sustainability

Environmental, Social and Governance (ESG) is integral to Goodman’s long-term business strategy. We make investment decisions based on strategic long-term thinking and operate with sustainability goals front of mind.

Goodman’s 2030 Sustainability Strategy is based on three pillars: sustainable propertiespeople and culture and corporate performance. We are working on both short and long-term initiatives to make a meaningful difference to our business as well as to our people, customers, investors, community and planet.

Our sustainability strategy shapes Goodman’s business. It aligns with our purpose to make space for greatness, and is helping us transition to being a resilient, responsible and low-carbon company.

Our sustainability strategy captures the ESG priorities of our global business. The pillars have clear targets which are tracked, measured and reported annually.

Read more about our sustainability initiatives in our 2022 Sustainability Report.

Pillars

 

Our three pillars

Material drivers

 

Material issues drive our sustainability strategy

Our sustainability strategy is driven by our material issues, which we review regularly. These material issues are reviewed against global ESG trends, our external stakeholders’ priorities and the broader economic and social context. 

In 2022, an independent review of Goodman’s ESG drivers was completed. Two were added to our 2019 list, giving us a total of eight material drivers:

  1. Actively contributing to the Net Zero transition 
  2. Owning strategically located properties close to consumers in key global markets
  3. Developing and adapting innovative, efficient, and flexible properties with a future focus
  4. Demonstrating Goodman’s values and promoting diversity, inclusiveness, and social equity
  5. Investing responsibly with defined governance and sustainable capital structures
  6. Promoting workplace safety and wellbeing for all
  7. Delivering resilient assets that support human health and value natural capital
  8. Influencing the sustainability practices of our value chain.

We support sustainable development globally

The United Nations’ Sustainable Development Goals (UNSDGs) are a call to action to address the world’s most significant challenges including climate change, poverty, gender equality and good health and wellbeing for all. 

Our 2030 Sustainability Strategy and ESG targets support nine of the 17 SDGs. These goals are the most relevant to our operations and our progress is helping to solve some of the world’s biggest challenges.

 

 

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Climate risk

 

Our response to climate risk

Goodman’s Boards and management team are committed to addressing climate risk. We work to maintain our understanding of current potential exposure to risks, gauge the impact of these risks on our business and identify mitigation responses.

Our view of climate risk goes beyond the direct physical risks to our assets. It includes transitional risks to our business, related to policy shifts, regulatory and disclosure obligations, insurance impacts, and the market broadly. 

Our Climate Disclosure Statement (TCFD) explains how we manage climate change risks and opportunities in accordance with the Task Force on Climate-related Financial Disclosures (TCFD) recommendations. The statement is reviewed annually.
 
In 2022, we finalised our 2030 science-based emission reduction targets. These were validated by the Science-based Targets initiative and are considered ambitious, aligning with the 1.5°C pathway, and the Paris Agreement goal to limit global warming.

 

We are actively adapting

Having a more resilient property portfolio is a crucial part of Goodman’s sustainability strategy and long-term approach. A resilient portfolio is one that is strategically located, adaptable to customer needs, and with greater resilience to a changing climate.

Goodman’s properties are designed to be efficient and highly functional both today and into the future. We achieve this by combining sustainable design fundamentals with the use of innovative materials and building automation to develop green buildings. This work helps us meet our own sustainability targets, and those of our customers and Investment Partners.

 

Sustainable design in action

Our properties can include a number of sustainable design features. Click on the interactive buttons below to find out more.

Supply chain

 

Global supply chain ethics

Our supply chain consists of more 8,000 suppliers. Goodman supports the protection of human rights, and equity and fairness within our supply chains. We recognise that modern slavery is a global risk and that managing this risk is an ongoing responsibility for us.

View our Modern Slavery Statement, 2022 to see how we manage these risks.

 

ESG benchmarks

We participate in ESG benchmarking programs around the world to measure and communicate Goodman’s performance to our stakeholders. These programs also show us ways we can improve.

Global Real Estate Sustainability Benchmark (GRESB)

Over the ten years that Goodman has participated in GRESB, we have improved our scores consistently and increased our number of participating entities globally. This year, 10 of our Partnerships made submissions. 

2022 highlights:

  • Goodman Group maintained its ‘A’ rating for its public ESG disclosure
  • The Goodman Japan Core Partnership was ranked #1 in its peer group in the GRESB Standing Investments benchmark
  • The Goodman European Partnership, Goodman UK Partnership, and the Goodman Brazil Logistics Partnership were ranked #1 in their respective peer groups in the GRESB Development benchmark. 
  • The Goodman Japan Core Partnership, Goodman Hong Kong Logistics Partnership, Goodman European Partnership, and the Goodman UK Partnership all achieved the maximum 5 Stars for ESG performance
  • The Goodman Australia Partnership received Regional Sector Leader status (Oceania, Diversified - Office/Industrial).
     

Sustainalytics risk rating   

In 2022, we received an ESG Risk Rating of 9.5, where we were assessed as being at ‘negligible’ risk of experiencing material financial impacts from ESG factors.

 

MSCI ESG Index 

In 2022, Goodman’s ESG rating improved from A to AA, reflecting the strength of our corporate governance and anti-corruption controls.