In this issue : DECEMBER 2019
In this issue : DECEMBER 2019

Sustainability

The Group completed a comprehensive review of its sustainability practice, taking into account its continued growth and strong financial performance.

The resulting 2030 Sustainability Strategy is structured around three strategic pillars. Each pillar is backed by short and long-term environmental, social and governance (ESG) targets. These represent key ESG priorities most relevant to Goodman, our stakeholders and the world more broadly.

PROPERTY

To make space for greatness, Goodman focuses on securing key sites for properties that will stand the test of time. We know that well-located, designed and managed properties are better prepared for the challenges of tomorrow. They are more flexible to meet customer needs, support their ongoing health and well-being, and are more resilient to climate impacts and generally experience higher occupancy rates. This maximises their asset value and is a sign that the properties are being used efficiently.

While our target is to use 100% renewable energy by 2025, this will be influenced by regional policies and energy markets. Our increasing proportion of rooftop solar, lighting upgrades and a raft of other energy efficiency measures will all contribute to our projected carbon neutral status.

PEOPLE & CULTURE

To achieve success, any organisation needs great people. That’s why we base our recruitment around merit, local knowledge and cultural fit. We’re always on the look-out for smart people who are aligned with our values and long-term thinking. Once on board, we incentivise our team to think strategically, work collaboratively and undertake programmes to improve their well-being.

We also think beyond the needs of just our internal team and actively support our customers and suppliers, too. We have aligned commitments to their workforces and have a plan to expand our business ethics programme to look at the human rights and social equity aspects of our global supply chains.

Importantly, we have a safety target of zero workforce fatalities. We believe the best way to achieve this is through strict workplace safety standards and making safety a responsibility for everyone.

CORPORATE PERFORMANCE

While we remain clear about our purpose – to make space for greatness – our approach to achieving this goal in a changing world is adaptable.

We finance ourselves with sustainable capital and maintain low debt levels to allow us to stay active during different market cycles. We value the trust of our stakeholders and the chance to make a difference in the communities we operate in.

To remain accountable and focus on continuous improvement, for the past eight years Goodman has participated in GRESB, the leading ESG survey for the real estate sector. Our ESG performance is analysed and scored, providing detailed insights for investors.

Sustainability highlight

Smart Irrigation System

With Australia in the grips of drought and dam levels continuing to decline, water conservation has become critical and is receiving a renewed focus across the broader community. We continue to investigate methods to help reduce water waste (and waste more generally) and have developed a new water-saving initiative.

A pilot programme in Sydney’s outer west has recently commenced which has delivered a 35% (or 160,000 litres) reduction in overall water usage over a three-month period, and as a result will see this initiative being implemented across the wider Australian portfolio.

What is a Smart Irrigation System?

Wireless based adjustment control system

  • Allows remote access to water programmes via a smart device anywhere nationally
  • Allows water programme adjustments at an individual property or group of properties to be made remotely
  • Predictive watering adjustments based on local weather/soil moisture levels.

Automatic fault detection

  • Leak detection using pulse water metre
  • Flow sensing alerts based on set tolerances reducing water loss and equipment damage
  • Real-time email alarm warnings for breakages or faults.

Real-time water usage data

  • Live dashboards providing real-time water usage data
  • Comprehensive reporting system to meet both internal and external requirements.

What is the impact of a Smart Irrigation System?

  • Reduced water usage – more efficient than traditional manual time-based systems
  • Reduced operating expenses – removes human intervention and audits, saving potentially 1,900 hours nationally
  • Reduced capital costs – removes circa $100,000 in capital cost per annum associated with plant replacement due to irrigation issues
  • Healthier landscaping and improved presentation – plants and lawns are being watered as and when required.

By June 2020, we are targeting to have the irrigation system installed across 41 sites with a further rollout of sites planned during FY21.

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