Goodman Group calculates its global greenhouse gas emissions from its operations using the GHG Protocol. Goodman reports its operational carbon inventory annually to Climate Active as part of our commitment to maintaining our carbon-neutral organisation certification.
Our emissions boundary is based on operational control. Our inventory includes emissions generated from Goodman’s corporate activities and managed portfolio emissions, which relate to properties and areas where we are involved in the day-to-day operations. For example, electricity emissions generated by common area lifts or carpark lights of an estate would be included, as Goodman oversees the operating and maintenance schedules.
We take responsibility for 100% of these emissions, regardless of the Group’s equity share in the Investment Partnership that owns the property. For our Climate Active carbon-neutral organisation certification, our boundary excludes emissions generated by our customers’ activities within leased areas. However, our science based targets, discussed below, include customer emissions.
The below table details our FY22 operational emissions used for Climate Active certification. During the year, we saw a significant decrease in Scope 2 emissions due to the purchase of 100% GreenPower across Goodman’s Australian offices and properties.
GHG scope | Emissions source | 2021 tCO2-e1 |
2022 tCO2-e |
Scope 1 | Natural Gas | 1,001 | 899 |
Fuels | 898 | 846 | |
Refrigerants | 1,414 | 1,360 | |
Scope 2 | Electricity | 37,065 | 11,6372 |
Scope 3 | Energy | 4,251 | 748 |
Waste | 3,073 | 2,975 | |
IT | 1,388 | 1,320 | |
Marketing | 999 | 1,141 | |
Corporate travel | 474 | 590 | |
Employee commuting | 292 | 438 | |
Working from home | 132 | 169 | |
Other expenses3 | 1,974 | 1,605 | |
Total | 52,962 | 23,728 |
1 Due to the availability of more current data, previous data has been updated, where applicable.
2 Market-based emissions. Scope 2 location-based emissions are equivalent to 29,765 tCO2-e.
3 Accommodation, water use, advertising, cleaning, telecommunications, other expenses.
This year the Science Based Targets initiative validated Goodman’s 2030 emissions reduction commitments. Using a 2021 baseline, our targets include reducing our absolute Scope 1 and 2 GHG emissions by 42% in total.
Our Scope 3 targets include reducing emissions by 50% per square metre, including both downstream leased and sold assets. Our progress is detailed below.
GHG scope |
Unit | 2021 | 2022 | 2030 target |
Scope 1+2 | tCO2-e | 40,379 | 14,7421 | 23,420 |
Scope 3 | kgCO2-e/m2 leased assets | 39.9 | 37.8 | 20.0 |
Scope 3 | kgCO2-e/m2 sold assets | 502.5 | 442.6 | 251.2 |
1 Market-based emissions. Scope 1+2 location-based emissions are equivalent to 32,870 tCO2-e.
This year Goodman created a Sustainability-Linked Bond (SLB) Framework using Goodman’s science-based targets for our Scope 1 and Scope 2 emissions as the performance criteria. After developing the Framework, Goodman issued its first SLB into the Rule 144A / Reg S market with a scheduled maturity of 2032.
Our annual progress can be seen in the below table. Note that the large reduction in Scope 2 emissions is predominantly due to the uptake of 100% GreenPower in our Australian business.
GHG scope |
2021 tCO2-e1 | 2022 tCO2-e2 | 2030 target |
Scope 1 | 3,314 | 3,105 | |
Scope 2 | 37,065 | 11,6373 | |
Total | 40,379 | 14,742 | 23,420 |
1 Validated by the Science Based Targets initiative
2 Externally verified under ASRS 4400 by a qualified, independent reviewer
3 Market-based emissions. Scope 2 location-based emissions are equivalent to 29,765 tCO2-e.
WORKFORCE | FY20 | FY21 | FY22 | |
Total number of contractor employees (fixed term/temporary) | < 5% | < 5% | < 5% | |
Number of employees at end of year: global | 963 | 922 | 950 | |
Australia | 288 | 287 | 314 | |
NZ | 63 | 58 | 61 | |
Europe | 214 | 187 | 202 | |
UK | 35 | 33 | 37 | |
China | 212 | 192 | 171 | |
Japan | 63 | 63 | 64 | |
US | 56 | 58 | 70 | |
Brazil | 32 | 33 | 31 | |
Total workforce by age | ||||
<20 | 1 | 0 | 2 | |
20-29 | 166 | 139 | 135 | |
30-39 | 357 | 331 | 317 | |
40-49 | 299 | 289 | 296 | |
50-59 | 102 | 129 | 144 | |
>60 | 36 | 34 | 36 | |
Total workforce by gender | ||||
Female | 43% | 44% | 44% | |
Male | 57% | 56% | 56% | |
Governance bodies | ||||
Non-executive Directors on Goodman Boards | 70% | 70% | 72% | |
Female Directors on Goodman Boards (Non-executive) | 28.5% | 28.5% | 27% | |
Parental leave | ||||
Total number of employees entitled to parental leave | All employees in accordance with local regulations | All employees in accordance with local regulations | All employees in accordance with local regulations | |
Number of employees who took parental leave through the year | 23 male
11 female |
27 male
22 female |
12 male
38 female |
|
Number of employees who returned from parental leave | 24 male
12 female |
27 male
22 female |
10 male
25 female |
|
Number of employees who returned from leave still employed 12 months later | 24 male
11 female |
26 male
19 female |
13 male
12 female |
|
Learning and development | ||||
Percentage of employees who had regular performance and career development reviews | 93% | 93% | 96% |
HEALTH AND SAFETY | FY20 | FY21 | FY22 | |
Employees in Goodman controlled premises covered by the Goodman Safety System | 100% | 100% | 100% | |
Number and rate of employee workplace fatalities | 0 | 0 | 0 | |
Number and rate of lost time injury frequency | 0 | 0 | 0 | |
Total number of employee hours worked | c. 2 million | c. 2 million | c. 2 million | |
Development projects – Principle Contractor Controlled Sites2 | ||||
Number of contractor fatalities | 1 contractor, 1 visitor | 4 contractors | 0 | |
Number and rate lost time injury frequency rate1 | 1.35 | 0.59 | 0.49 | |
Number and rate total recordable injury frequency rate1 | 4.00 | 1.96 | 1.84 | |
Total number of worker hours worked (Development Principle Contractors) | c.5.3 million | c.12.1 million | c.17.6 million |
1. Frequency rates are standardised to 200,000 hours.
2. Development data is taken from sites under the control of Principle Contractors.
Disclosure | Description | Location or direct response |
GR1102: General Disclosures | ||
102-1 | Name of the organisation | Goodman Group which comprises three entities: Goodman LimitedGoodman Funds Management Limited, as the responsible entity for Goodman Industrial Trust Goodman Logistics (HK) |
102-2 | Activities, brands, products, and services | What we do |
102-3 | Location of headquarters | 1-11 Hayes Road, Rosebery, NSW, 2018, Australia |
102-4 | Location of operations | Goodman Sustainability Report, Strategic Locations |
102-5 | Ownership and legal form | About us |
102-6 | Markets served | About us |
102-7 | Scale of the organisation | About us |
102-8 | Information of employees and other workers | Goodman Sustainability Report, Human capital management |
102-9 | Supply chain | Modern slavery statement |
102-10 | Significant changes to the organisation and its supply chain | Annual Report - page 24 |
102-11 | Precautionary Principle or approach | Goodman’s risk management process includes evaluation using the precautionary principle. This means Goodman’s actions are based on potential ESG impact, instead of proven impact, as a precaution. |
102-12 | External initiatives | Goodman Sustainability Report, ESG affiliations and partnerships - United Nations Sustainable Development Goals, SBTi, TCFD, GRESB, Climate Leaders Coalition, Sustainalytics, MSCI, GRI and ISO Standards. |
102-13 | Membership of associations | Goodman Sustainability Report, ESG affiliations and partnerships - Various global relationships including Property Council of Australia, Green Building Council of Australia, Australasian Investor Relations Association, GRESB, ANREV and INREV plus various professional memberships |
102-14 | Statement of senior decision maker | Goodman Sustainability Report, Chairman’s Letter |
102-14 | Statement of senior decision maker | Goodman Sustainability Report, CEO’s letter |
102-15 | Key impacts, risks and opportunities | Goodman Sustainability Report, CEO’s letter |
102-15 | Key impacts, risks and opportunities | Goodman Sustainability Report, Sustainability approach |
102-15 | Key impacts, risks and opportunities | TCFD Statement – pages 4-8 |
102-16 | Values, principles, standards and norms of behaviour | Diversity and inclusion policy – page 1 |
102-16 | Values, principles, standards and norms of behaviour | Code of Conduct – page 3 |
102-16 | Values, principles, standards and norms of behaviour | Statement of Business ethics – page 2 |
102-16 | Values, principles, standards and norms of behaviour | Workplace bullying and harassment policy – page 3 |
102-16 | Values, principles, standards and norms of behaviour | Corporate Governance Statement – page 3, Principle 3 |
102-17 | Mechanisms for advice and concerns about ethics | Ethical concerns (whistleblower) policy |
102-17 | Mechanisms for advice and concerns about ethics | Corporate Governance Statement – page 3 Principle 3, page 3 Principle 4, page 3 Principle 7 |
102-18 | Governance structure | Goodman Sustainability Report, How we’re structured – page 22 |
102-18 | Governance structure | Corporate Governance Statement – page 2 Principle 1, page 3 Principle 2, page 3, Principle 3, page 3 Principle 4, page 3 Principle 7 |
102-20 | Executive-level responsibility for economic, environmental, and social topics | Corporate Governance Statement – page 4 |
102-21 | Consulting stakeholders on economic, environmental, and social topics | Corporate Governance Statement – page 3 Principle 6 |
102-22 | Composition of the highest governance body and its committees | Corporate Governance Statement – page 3 Principle 2, page 5 Board composition |
102-23 | Chair of the highest governance committee | Board of Directors |
102-23 | Chair of the highest governance committee | Board of Directors |
102-24 | Nominating and selecting the highest governance body | Corporate Governance Statement– page 2 Principle 1, page 3 Principle 2 |
102-25 | Conflicts of interest | Conflicts of interest – pages 2-3 |
102-25 | Conflicts of interest | Corporate Governance Statement – page 3 Principle 2, page 3 Principle 3 |
102-26 | Role of highest governance body in setting purpose, values, and strategy | Goodman Sustainability Report, The Boards and Committees |
102-26 | Role of highest governance body in setting purpose, values, and strategy | Board of Directors |
102-26 | Role of highest governance body in setting purpose, values, and strategy | Corporate Governance Statement – page 2 Principle 1 |
102-27 | Collective knowledge of highest governance body | Goodman Sustainability Report, Board of Directors |
102-27 | Collective knowledge of highest governance body | Corporate Governance Statement – page 3 Principle 2, page 7 Board skills |
102-28 | Evaluating the highest governance body's performance | Corporate Governance Statement – page 2 Principle 1 |
102-29 | dentifying and managing, economic, environmental, and social impacts | Corporate Governance Statement – page 3 Principle 7 |
102-30 | Effectiveness of risk management processes | Corporate Governance Statement – page 3 Principle 7 |
102-31 | Review of economic, environmental, and social topics | Corporate Governance Statement – page 3 Principle 7 |
102-32 | Highest governance body's role in sustainability reporting | Corporate Governance Statement – page 3 Principle 3 |
102-32 | Highest governance body's role in sustainability reporting | Corporate Governance Statement – page 3 Principle 7 |
102-33 | Communicating critical concerns | Corporate Governance Statement– page 3 Principle 7 |
102-35 | Remuneration policies | Corporate Governance Statement – page 3 Principle 8 |
102-35 | Remuneration policies | Remuneration Committee Charter |
102-36 | Process for determining remuneration | Corporate Governance Statement– page 3 Principle 8 |
102-36 | Process for determining remuneration | Remuneration Committee Charter |
102-37 | Stakeholders' involvement in remuneration | Corporate Governance Statement – page 3 Principle 6 |
102-37 | Stakeholders' involvement in remuneration | Remuneration Committee Charter |
102-40 | List of stakeholder groups | Goodman Sustainability Report, Our Purpose |
102-40 | List of stakeholder groups | Goodman Sustainability Report, Engaging our stakeholders |
102-41 | Collective bargaining agreements | Goodman is not opposed to collective bargaining although the relationship we have with our employees means we have no single global collective bargaining agreement. |
102-42 | Identifying and selecting stakeholders | Goodman Sustainability Report, Engaging our stakeholders |
102-43 | Approach to stakeholder engagement | Goodman Sustainability Report, Engaging our stakeholders |
102-44 | Approach to stakeholder engagement | Goodman Sustainability Report, Engaging our stakeholders |
102-45 | Entities included in the consolidated financial statements | Annual Report |
102-46 | Defining report content and topic Boundaries | This report has been prepared in accordance with the GRI standards core option. Our report includes FY22 performance highlights from across Goodman’s global operations. Goodman.com/Corporate governance |
102-47 | List of material topics | Goodman Sustainability Report, Sustainability approach |
102-48 | Restatements of information | No restatements have been made |
102-49 | Changes in reporting | No changes. Reporting is aligned with GRI standards: Core option |
102-50 | Reporting period | Reporting period is for 12 months: 1 July 2021 – 30 June 2022 |
102-51 | Date of most recent report | December 2021 |
102-52 | Reporting cycle | Annual |
102-53 | Contact point for questions regarding the report | James Vesper |
102-54 | Claims of reporting in accordance with the GRI standard | This report has been prepared in accordance with the GRI Standards: Core option |
102-55 | GRI content index | This document represents the company’s content index |
102-56 | External assurance | External assurance is provided over financials and selected carbon emissions data is independently verified |
GRI 201 Economic Performance | ||
201-1 | Direct economic value generated and distributed | Annual Report |
201-2 | Financial implications and other risks and opportunities due to climate change | TCFD Statement – pages 4-8 |
GRI 205 Anti-corruption | ||
205-1 | Operations assessed for risks related to corruption | Anti-bribery and corruption policy – page 3 |
205-1 | Operations assessed for risks related to corruption | Ethical concerns policy – page 2 |
205-2 | Communication and training about anti-corruption policies and procedures | Code of Conduct – page 3 |
205-2 | Communication and training about anti-corruption policies and procedures | Anti-bribery and corruption policy – page 3 |
205-3 | Confirmed incidents of corruption and actions taken | There were no instances of corruption identified during this period |
GRI 206 Anti-competitive behaviour | ||
206-1 | Legal actions for anti-competitive behaviour, anti-trust, and monopoly practices | No current legal actions are recorded |
GRI 304 Biodiversity | ||
304-4 | IUCN Red List species and national conservation list species with habitats in areas affected by operations | Ecologists are engaged to research, identify and report on threatened species, terrestrial or aquatic, on development sites |
GRI 305 Emissions | ||
305-1 | Direct (Scope 1) GHG emissions | Goodman Sustainability Report, Carbon inventory |
GRI 306 Water | ||
306-3 | Significant spills | No significant spills were identified |
306-4 | Transport of hazardous waste | Goodman does not transport hazardous waste as part of day-to-day operations. If remediation is required, Goodman appoints principal contractors to complete works in accordance with applicable laws and regulations. Under its lease obligations, Moorabbin Airport, a subsidiary of Goodman Limited, manages legacy obligations relating to historical use PFAS at the airport. More information can be found at https://www.moorabbinairport.com.au/about-us/environment |
GRI 307 Environmental Compliance | ||
307-1 | Non-compliance with environmental laws and regulations | No significant breaches of environmental laws |
GRI 401 Employment | ||
401-1 | New employee hires and employee turnover | 6.4% voluntary turnover rate |
401-2 | Benefits provided to full-time employees that are not provided to temporary or part-time employees | Part-time employees receive the same benefits on a pro-rated basis or eligibility as full-time employees. Employees on a fixed term or casual basis do not participate in the Goodman long-term incentive plan. |
401-3 | Parental leave | Goodman Sustainability Report, ESG metrics, Goodman global workforce |
GRI 403 Occupational Health and Safety | ||
403-1 | Occupational health and safety management system | Goodman Sustainability Report, Systems for Safety |
403-2 | Hazard identification, risk assessment, and incident investigation | Goodman Sustainability Report, Systems for Safety |
403-3 | Occupational health services | Goodman Sustainability Report, Systems for Safety |
403-4 | Worker participation, consultation, and communication on occupational health and safety | Goodman Sustainability Report, Systems for Safety |
403-5 | Worker training on occupational health and safety | Goodman Sustainability Report, Systems for Safety |
403-8 | Workers covered by an occupational health and safety management system | Goodman Sustainability Report, ESG metrics, Health and Safety |
403-9 | Work-related injuries | Goodman Sustainability Report, ESG metrics, Health and Safety |
GRI 404 Training and Education | ||
404-2 | Programs for upgrading employee skills and transition assistance programs | Goodman Sustainability Report, Human capital management |
404-3 | Percentage of employees receiving regular performance and career development reviews | Goodman Sustainability Report, Human capital management |
GRI 405 Diversity and Equal Opportunity | ||
405-1 | Diversity of governance bodies and employees | Goodman Sustainability Report, ESG metrics, Goodman global workforce |
GRI 407 Freedom of Association and Collective Bargaining | ||
407-1 | Operations and suppliers in which the right to freedom of association and collective bargaining may be at risk | Goodman does not prohibit or restrict freedom of association |
GRI 413 Local Communities | ||
413-1 | Operations with local community engagement, impact assessments, and development programs | Goodman Sustainability Report, Goodman Foundation |
413-1 | Operations with local community engagement, impact assessments, and development programs | Goodman Sustainability Report, Reconciliation Action Plan |
GRI 418 Customer Privacy | ||
418-1 | Substantiated complaints concerning breaches of customer privacy and losses of customer data | There were no reported incidents |