Goodman Property Trust Annual Report 2022
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Sustainable properties

The material factors that guide our investment activity include:
  • Customer attraction and retention
  • Sustainable design and management
  • Flexible and adaptable properties
  • Smart energy solutions
  • Climate risk and resilience
  • Carbon reduction strategies
Key targets Progress Status
Carbon neutral operations by 2025
  • Toitū carbonzero certified since FY21
  • 50.0% reduction in absolute emissions1 from FY20 base year (2025 target of 19.4%)
Sustainable development programme
  • All new projects targeting 5 Green Star Built rating
  • Lower carbon developments
  • 3,241 tCO2e of Scope 3 embodied carbon offset for developments completed in FY22
Energy efficiency 2025
  • 100% of core portfolio to feature LED lighting by 2025
  • NABERS ratings for all eligible office buildings at Highbrook by 2025
Solar Energy 2025
  • 1.1 MW of solar energy installed or planned
  • Target 2.0 MW by 2025
Renewable Energy use 2025
  • 100% certified renewable energy by 2025
Maintain portfolio occupancy above 95%
  • >99% occupancy

Scope 1, Scope 2 and mandatory Scope 3 emissions as reported.

PORTFOLIO INITIATIVES

GMT’s investment strategy is exclusively focused on the urban logistics segment of the Auckland industrial market. The Trust’s 15 estates are strategically located, close to consumers and key transport infrastructure.

Strong customer relationships underpin the Trust’s financial results. Consistently high occupancy levels (FY22 >99%) demonstrate that we are meeting the needs of our customers and developing to meet demand.

The average age of the core investment portfolio is around 10 years. Maintaining these properties to a high standard ensures they remain contemporary and attractive to customers.

Improving the operational and environmental performance of these buildings is also a priority.

Energy efficiency and water conservation projects are ongoing. We’re retrofitting existing assets with solar energy systems, LED lighting and water saving technologies. We are also replacing R22 refrigerants in building HVAC systems with low emission factor alternatives.

Mainfreight artist impression Mainfreight artist impression
Artist’s impression of the Mainfreight Supersite at Favona

 

MAINFREIGHT SUPERSITE

The new twin warehouse project for Mainfreight is well underway at Favona Road Estate, a former market garden in Māngere.

The demolition phase of the 35,860 sqm, redevelopment project has seen an impressive 90% of waste material, over 2,500 tonnes, diverted from landfill and recycled.

Project Video

TYPICAL GREEN STAR FEATURES
Typical Green Star features Typical Green Star features
DEVELOPING GREEN

A successful development programme has built over 90% of the core portfolio since 2004.

Targeting a 5 Green Star Built rating on all new projects, Goodman’s base-build specification ensures its new warehouse and logistics facilities are industry leading.

A commitment to sustainable development is reflected in the use of lower carbon and sustainably sourced building materials. The development process is also managed to reduce waste and other environmental impacts. Unavoidable greenhouse gas emissions (embodied carbon) are carefully measured and offset.

Protecting and improving the natural environment around our estates is also an objective of our development programme. Urban ngahere projects are underway at Highbrook Business Park and Roma Road Estate, with beehive initiatives also planned to improve the biodiversity and resilience of the landscapes within the portfolio.

MANAGING EMISSIONS AND CLIMATE RISK

Acknowledging the threat of climate change, our sustainability programme includes ambitious emission reduction targets that align with the objectives of the Paris Agreement and the limiting of global warming to less than 2 degrees.

Mitigating the impacts of climate change by measuring and minimising greenhouse gas (GHG) emissions is an essential part of this strategy. Our Emissions Management and Reduction Plan details the initiatives that will help in the transition to a low carbon, sustainable business.

Amble and Birch Amble and Birch
EV chargers are now being installed in all new GMT developments. To complement these dedicated customer chargers, the Trust (with co-funding from ECCA) has also installed public 150kW DC fast chargers at Highbrook Business Park and M20 Business Park. 
We are proud to be Toitū carbonzero certified as we work towards these 2025 targets.

Assurance from Toitū confirms our GHG emissions have been measured in accordance with ISO 14064-1:2006 and that we have offset unavoidable Scope 1, Scope 2 and mandatory Scope 3 emissions with locally sourced carbon credits.

The certification encompasses Goodman (NZ) Limited, Goodman Property Services (NZ) Limited and Goodman Property Trust. It includes emissions from operational activities and from the buildings and spaces within the portfolio where the Manager has operational control.

The table above summarises the combined emissions of these businesses, with the detailed inventory available online. While we expect some volatility year to year, our target objective is to reduce absolute emissions by 19.4% before 2025 (within five years of the 2020 base year).

Our FY22 result, with a 50.0% reduction in absolute emissions, is already significantly ahead of the 2025 target. The strong progress reflects positively on our emissions reduction initiatives but also the impact of COVID-19 restrictions reducing energy consumption and travel related emissions.

This year we have also added non-mandatory Scope 3 emissions to our reporting, and these are included below the line. They relate to the embodied carbon within our completed development projects and the emissions are also offset, resulting in our development activity being carbon neutral.

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