REAL ESTATE INVESTMENT TRUSTS & FUNDS

Goodman the green hero reaching carbon zero ahead of 2025

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INDUSTRIAL property giant Goodman Group has pulled off a sustainability feat, achieving carbon neutrality for its global operations – four years ahead of its 2025 target.

Certified by the Australian Government’s Climate Active program, Goodman’s carbon neutral result comes from reducing emissions and includes 100% Australian Carbon Credit Units (ACCUs).

CEO Greg Goodman said the group has been progressively reducing its emissions through initiatives targeting energy efficiency and expansion of its rooftop solar installations.

Goodman’s operations in Australia have transitioned to 100% GreenPower, which will dramatically reduce emissions in future years. Prior to this, Australia was responsible for about 60% of Goodman’s global emissions.

“As providers of essential infrastructure, we realise the importance of our sustainability strategy and we’re proud that our global operations are carbon neutral. Around the world, we have made progressive choices and changes in our strategy and operations to achieve this net zero status ahead of our 2025 target,” he added.

Goodman said its decision to invest in ACCUs enabled the business to support indigenous climate action projects in the Northern Territory with the scheme also delivering social and environment outcomes by conserving habitats, protecting biodiversity, and generating employment opportunities while supporting social and cultural traditions.

In addition to achieving net-zero operations, Goodman is looking broadly at where it can support and influence long term sustainable solutions.

Goodman said the company’s global portfolio is primarily concentrated in urban infill locations, close to consumer groups, allowing customers faster speed to market and reduced transport related emissions.

Goodman also believes that redeveloping existing brownfield sites will reduce the environmental impact – by better use of existing infrastructure, repurposing existing buildings, preserving greenfields, and avoiding unnecessary construction waste.

“In the US for example, major projects like Goodman Logistics Centre Fullerton is using 95% of materials recycled on site as part of the new construction and is expecting the building’s embodied carbon to be net zero.

“Globally, the property sector has a huge and vital role to play in sustainability from the new estates we develop, through to the impact of assisting our customers across our portfolio achieve greener outcomes within their own businesses.” Goodman said.

Looking to the future, Goodman is turning its focus to reducing carbon in the development process.

“The company now calculates the volume of embodied emissions from its development projects globally. This critical step enables Goodman to place a value on embodied carbon and creates an ability to offset carbon emissions.” Goodman said.

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