ESG metrics
Operational carbon inventory
Annually, we report our operational carbon inventory to Climate Active as part of our commitment to maintaining certification as a carbon-neutral organisation. Our emissions boundary encompasses our corporate activities, and across our property portfolio in areas where we have control over day-to-day operations. We take full responsibility for these emissions, irrespective of our equity share in the properties.
Notably, our Climate Active carbon-neutral organisation certification boundary excludes emissions from our customers’ activities within leased areas and our embodied emissions.
Our annual operational emissions are outlined below.
| GHG scope | Emissions source | 2021 tCO2-e1 |
2022 tCO2-e |
2023 tCO2-e |
| Scope 1 | Fuels | 898 | 846 | 888 |
| Natural gas | 1,001 | 899 | 805 | |
| Refrigerants | 1,414 | 1,360 | 1,483 | |
| Scope 2 | Electricity (market-based) | 37,065 | 11,637 | 4,665 |
| Electricity (location-based) | 37,065 | 29,777 | 32,867 | |
| Scope 3 | Electricity | 4,032 | 2,251 | 3,053 |
| Fuels and natural gas | 317 | 319 | 403 | |
| Waste | 3,073 | 2,975 | 1,350 | |
| Business travel | 432 | 542 | 2,303 | |
| Employee commuting | 292 | 438 | 575 | |
| Other expenses2 | 4,432 | 4,139 | 8,231 | |
| Total (market-based) | 52,962 | 25,406 | 23,756 | |
| Total (location-based) | 52,962 | 43,546 | 51,958 |
1. Due to the availability of more current data, previous data has been updated, where applicable.
2. Water use, data servers, working from home, advertising, cleaning, telecommunications, and other expenses.
Previously, Goodman reported only location-based electricity emissions which involved accounting for Scope 2 and Scope 3 emissions from electricity purchases using publicly available electricity grid emissions factors.
Since 2022, Goodman adopted both location and market-based electricity emissions reporting. Under the market-based approach, calculations for electricity emissions consider the retirement of renewable energy certificates.
2023 OPERATIONAL EMISSION (tCO2-e)
2023 ANNUAL EMISSION (MARKET-BASED tCO2-e)
2023 OPERATIONAL EMISSION (tCO2-e)
2023 ANNUAL EMISSION (tCO2-e)
Science-based targets
The Science Based Targets initiative has validated Goodman Group’s 2030 emissions reduction commitments.
Based on a 2021 baseline, our targets are to reduce total absolute Scope 1 and 2 GHG emissions by 42 percent. Additionally, we aim to lower Scope 3 emissions by 50 percent per square metre, covering both downstream leased and sold assets.
Our progress with our SBT is outlined below.
| GHG scope | Unit | 2021 | 2022 | 2023 | 2030 target |
| Scope 1+2 (location-based) | tCO2-e | 40,379 | 32,882 | 36,043 | 23,420 |
| Scope 1+2 (market-based) | tCO2-e | 40,379 | 14,742 | 7,841 | |
| Scope 3 | kgCO2-e/sqm leased assets | 39.9 | 37.8 | 36.4 | 20 |
| Scope 3 | kgCO2-e/sqm sold assets | 502.5 | 442.6 | 596.7 | 251 |
Sustainability-linked bond
Goodman Group issued a sustainability-linked bond in the Rule 144A / Reg S market in 2021, with maturity set for 2032. We based its performance criteria on our science-based targets for Scope 1 and Scope 2 emissions.
The table below illustrates our annual progress noting the substantial reduction in Scope 2 market-based emissions is primarily due to the use of GreenPower in our Australian operations and use of international renewable energy certificates (I-RECs).
| GHG Scope | 2021 (tCO2-e) |
2022 (tCO2-e) |
2023 (tCO2-e) |
2030 target |
| Scope 1 | 3,314 | 3,105 | 3,176 | 23,420 |
| Scope 2 (location-based) | 37,065 | 29,777 | 32,867 | |
| Scope 2 (market-based) | 37,065 | 11,637 | 4,665 |
Energy
Our property teams prioritise energy efficiency and implement enhancements to support our reduction trajectory, including lighting, building envelope, and energy monitoring upgrades.
Below is a summary of our energy consumption, encompassing all energy consumed from activities under our operational control. Electricity is the largest contributor to our energy footprint, highlighting the importance of onsite solar consumption and the use of renewable energy certificates.
| Energy source | 2023 (MWh) |
Contribution |
| Gasoline/Petrol | 1,378 | 2% |
| Diesel | 1,893 | 3% |
| Natural gas | 4,340 | 7% |
| Electricity | 57,526 | 88% |
| Total | 65,137 | 100% |
| WORKFORCE | FY21 | FY22 | FY23 | |
| Total number of contractor employees (fixed term/temporary) | < 5% | < 5% | 1% | |
| Number of employees at end of year: global | 922 | 950 | 971 | |
| Australia | 298 | 314 | 337 | |
| NZ | 58 | 61 | 69 | |
| Continental Europe | 187 | 202 | 188 | |
| UK | 33 | 37 | 37 | |
| Mainland China | 136 | 112 | 101 | |
| Hong Kong | 56 | 59 | 61 | |
| Japan | 63 | 64 | 69 | |
| US | 58 | 70 | 75 | |
| Brazil | 33 | 31 | 34 | |
| Total workforce by age | ||||
| <20 | 0 | 2 | 2 | |
| 20-29 | 139 | 135 | 139 | |
| 30-39 | 331 | 317 | 322 | |
| 40-49 | 289 | 296 | 310 | |
| 50-59 | 129 | 144 | 159 | |
| >60 | 34 | 36 | 39 | |
| Total workforce by gender | ||||
| Female | 44% | 44% | 44% | |
| Male | 56% | 56% | 56% | |
| 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 | 27 male
22 female |
12 male
38 female |
11 male
11 female |
|
| Number of employees who returned from parental leave | 27 male
22 female |
10 male
25 female |
11 male
11 female |
|
| Number of employees who returned from leave still employed 12 months later | 26 male
19 female |
13 male
12 female |
10 male
24 female |
|
| Learning and development | ||||
| Percentage of employees who had regular performance and career development reviews | 93% | 96% | 90% | |
The Goodman Boards look to have an appropriate mix of skills, gender and geographic representation. The charts below illustrate the diversity of our Non-Executive Directors, who account for 77 percent of the Goodman Boards. Data for 2023 includes Kitty Chung who was appointed on 1 July 2023.
GENDER DIVERSITY
AGE DIVERSITY
GEOGRAPHIC DIVERSITY
| HEALTH AND SAFETY | FY21 | FY22 | FY23 | |
| Goodman employees | ||||
| 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 frequency¹ | 0 | 0 | 0 | |
| Total number of employee hours worked | c. 2 million | c. 2 million | c. 2 million | |
| Development projects – Principle Contractor Controlled Sites | ||||
| Number of contractor fatalities | 4 contractors | 0 | 0 | |
| Number and rate lost time injury frequency rate² | 0.59 | 0.49 | 0.17 | |
| Number and rate total recordable injury frequency rate | 1.96 | 1.84 | 0.64 | |
| Total number of worker hours worked (Development Principle Contractors) | c.12.1 million | c.17.6 million | c.13 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 |
| 2-1 | Organisation details | 1-11 Hayes Road, Roseberry NSW 2018, Australia |
| Goodman Sustainability Report, Well placed | ||
| Goodman Sustainability Report, How we’re structured | ||
| 2-2 | Entities included in the consolidated financial statements | Annual Report – page 8 |
| 2-3 | Reporting period, frequency and contact point | 1 July 2022 – 30 June 2023 |
| Annual | ||
| james.vesper@goodman.com | ||
| 2-4 | Restatements of information | No restatements have been made |
| 2-5 | External assurance | Annual Report – page 163 |
| Goodman Sustainability Report, ESG Metrics, Sustainability linked bond | ||
| 2-6 | Activities, brands, products, and services | Our properties |
| Our customers | ||
| Our approach | ||
| Goodman FY23 results presentation | ||
| Modern Slavery Statement | ||
| Goodman Sustainability Report, Our purpose | ||
| Goodman Sustainability Report, Well placed | ||
| Modern Slavery Statement – page 10 | ||
| Annual Report – page 27 | ||
| 2-7 | Information on employees and other workers | Goodman Sustainability Report, Goodman global workforce |
| 2-8 | Workers who are not employees | Goodman Sustainability Report, ESG affiliations and partnerships |
| 2-9 | Governance Structure | Corporate Governance Statement – page 4, Principle 1 Corporate Governance Statement – page 9, Principle 2 Corporate Governance Statement – page 12, Principle 3 Corporate Governance Statement – page 16, Principle 4 Corporate Governance Statement – page 20, Principle 7 |
| Goodman Sustainability Report, How we’re structured | ||
| 2-10 | Nominating and selecting the highest governance body |
Corporate Governance Statement – page 4, Principle 1 Corporate Governance Statement – page 9, Principle 2 |
| 2-11 | Chair of the highest governance committee | Goodman Sustainability Report, Board of Directors |
| 2-12 | Consulting stakeholders on economic, environmental, and social topics | Corporate Governance Statement – page 4, Principle 1 |
| Corporate Governance Statement – page 19, Principle 6 | ||
| Corporate Governance Statement – page 20, Principle 7 | ||
| 2-13 | Delegating authority | Corporate Governance Statement – page 4, Principle 1 |
| 2-14 | Highest governance body’s role in sustainability reporting | Corporate Governance Statement – page 4, Principle 1 |
| 2-15 | Conflicts of interest | Corporate Governance Statement – page 12, Principle 3 |
| Conflicts of Interest Policy – pages 2-3 | ||
| 2-16 | Communicating critical concerns | Corporate Governance Statement – page 18, Principle 5 Corporate Governance Statement – page 19, Principle 6 Corporate Governance Statement – page 20, Principle 7 |
| 2-17 | Collective knowledge of highest governance body | Corporate Governance Statement – page 4, Principle 1 Corporate Governance Statement – page 9, Principle 2 |
| Goodman Sustainability Report, Board of Directors | ||
| 2-18 | Evaluating the highest governance body’s performance | Corporate Governance Statement – page 4, Principle 1 |
| 2-19 | Remuneration policies | Corporate Governance Statement – page 4, Principle 1 Corporate Governance Statement – page 24, Principle 8 |
| 2-20 | Process for determining remuneration | Corporate Governance Statement – page 24, Principle 8 |
| Remuneration and Nomination Committee Charter | ||
| 2-22 | Statement from senior decision-maker | Goodman Sustainability Report, Chairman letter |
| 2-23 | 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. |
| Corporate Governance Statement – page 12 | ||
| Code of Conduct – page 3 | ||
| Inclusion and Diversity Policy – page 2 | ||
| Statement of Business Ethics – pages 2-3 | ||
| Workplace Bullying and Harassment Policy – page 2 | ||
| Sexual Harassment Policy – pages 3-4 | ||
| 2-26 | Mechanisms for advice and concerns about ethics |
Corporate Governance Statement – page 12, Principle 3 Corporate Governance Statement – page 19, Principle 6 Corporate Governance Statement – page 20, Principle 7 |
| Ethical Concerns (Whistleblower) – page 2 | ||
| Code of Conduct – page 3 | ||
| Statement of Business Ethics – pages 2-3 | ||
| 2-27 | Non-compliance with environmental laws and regulations | No significant breaches of environmental laws |
| 2-28 | Membership of associations | Goodman Sustainability Report, Collaborating for Change
Goodman Sustainability Report, ESG affiliations and partnerships |
| 2-29 | List of stakeholder groups | Goodman Sustainability Report, Our purpose Goodman Sustainability Report, The material issues that shape our sustainability strategy Goodman Sustainability Report, Stakeholder engagement |
| 2-30 | 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. |
| 3-1 | Defining report content and topic Boundaries | Goodman Sustainability Report, The material issues that shape our sustainability strategy |
| 3-2 | List of material topics | Goodman Sustainability Report, The material issues that shape our sustainability strategy |
| 3-3 | Management of material topics | 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. |
| 201-1 | Direct economic value generated and distributed | Annual Report – page 99 |
| 201-2 | Financial implications and other risks and opportunities due to climate change | TCFD Statement – pages 4-9 |
| 205-1 | Operations assessed for risks related to corruption | Ethical Concerns – page 2 |
| Anti-Bribery and Corruption Policy – page 3 | ||
| 205-2 | Communication and training about anti-corruption policies and procedures | Anti-Bribery and Corruption Policy – pages 3-4 |
| Code of Conduct – page 3 | ||
| 205-3 | Confirmed incidents of corruption and actions taken | There were no instances of corruption identified. |
| 206-1 | Legal actions for anti-competitive behaviour, anti-trust, and monopoly practices | No current legal actions are recorded. |
| 302-1 | Energy consumption within the organisation | Goodman Sustainability Report, ESG metrics |
| 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. |
| 305-1 | Direct (Scope 1) GHG emissions | Goodman Sustainability Report, ESG metrics |
| 305-2 | Energy indirect (Scope 2) GHG emissions | Goodman Sustainability Report, ESG metrics |
| 305-3 | Other indirect (Scope 3) GHG emissions | Goodman Sustainability Report, ESG metrics |
| 305-5 | Reduction of GHG emissions | Goodman Sustainability Report, ESG metrics |
| 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. |
| 401-1 | New employee hires and employee turnover | Goodman Sustainability Report, Human Capital Management Goodman Sustainability Report, Managing Our Team |
| 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, Goodman global workforce |
| 403-1 | Occupational health and safety management system | Goodman Sustainability Report, ESG metrics, Health and safety |
| 403-2 | Hazard identification, risk assessment, and incident investigation | Goodman Sustainability Report, Practical and Proactive 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 |
| 404-2 | Programs for upgrading employee skills and transition assistance programs | Goodman Sustainability Report, Building capacity Goodman Sustainability Report, Career direction |
| 404-3 | Percentage of employees receiving regular performance and career development reviews | Goodman Sustainability Report, Human capital management |
| 405-1 | Diversity of governance bodies and employees | Goodman Sustainability Report, Goodman global workforce |
| 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. |
| 413-1 | Operations with local community engagement, impact assessments, and development programs | Goodman Sustainability Report, Goodman’s First Nations engagement Goodman Sustainability Report, Here to help |
| 418-1 | Substantiated complaints concerning breaches of customer privacy and losses of customer data | There were no reported incidents. |