| Key targets | Progress | Status |
| Carbon neutral operations by 2025 |
|
 |
| Sustainable development programme |
|
 |
| Energy efficiency 2025 |
|
 |
| Solar Energy 2025 |
|
|
| Renewable Energy use 2025 |
|
 |
| Maintain portfolio occupancy above 95% |
|
 |
1 Scope 1, Scope 2 and mandatory Scope 3 emissions as reported.
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.
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.
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.
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.
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.
