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Decarbonising our development projects

Eliminating embodied carbon from construction is an enormous global challenge. Data gaps are wide, supply chains opaque and standards inconsistent. 

Goodman is collaborating with governments, industry bodies and supply chains around the world to set consistent benchmarks and standard methods of measurement of embodied carbon. And we continue to work closely with our suppliers and construction partners to reduce embodied carbon emissions.

 

Our approach to sustainability is focused on delivering positive economic, environmental and social outcomes for our business, our stakeholders and the planet.

Goodman Group has committed to cutting absolute greenhouse gas emissions (Scope 1 and 2) and has set verified Science Based Targets that are in line with the Paris Climate Agreement. These targets reflects Goodman's long-term commitment to net zero emissions.

In 2021, Goodman Group achieved carbon neutrality across its global operations – four years ahead of its 2025 target.

Goodman’s carbon neutral status was certified by the Australian Government’s Climate Active program following our efforts to reduce emissions across our corporate activities, offices and operations.

But this is just the first step on the road to net zero emissions – and one of the biggest challenges ahead is embodied carbon emissions.

Embodied carbon – or ‘upfront emissions’ – are the hidden emissions that are created during the construction of buildings. These can include carbon emitted during manufacturing of materials, transportation, installation, disposal and demolition. The World Green Building Council estimates that buildings are responsible for 39% of the world’s carbon emissions, 28% generated during operations and 11% from materials and construction.

Embodied emissions are locked into the building and are hard to eliminate because some of our most common building materials – like concrete and steel – require process heat and chemical reactions that can’t be easily decarbonised.

Steel and concrete are the main building blocks of industrial assets. These two materials alone are responsible for up to 70% of Goodman’s development carbon footprint.

Goodman has adopted a range of strategies to reduce embodied emissions of our development projects. One way we do this is to concentrate new projects in strategic locations to reduce transport-related emissions and support faster deliveries. Another way is to redevelop brownfield sites and repurpose older buildings, which reuses materials and avoids waste.

To achieve carbon neutral development across every site, we’re focused on three clear steps:

1. Measure

We collect data and trace the chain of custody of each building material to understand its carbon footprint. A panel of consultants with specialisation in lifecycle assessment helps us with this process. Each consultant uses Goodman’s preferred lifecycle assessment tool and aligns with life cycle assessment standards to ensure the data we gather is consistent. From this process we can calculate the volume of embodied emissions within each development. 

2. Reduce

We work closely and collaboratively with our construction partners and suppliers to trial new products, test new methods of construction and look for efficiencies in our existing designs. We set minimum performance requirements in our design brief, such as requesting Environmental Product Declarations on materials, where they exist. And we align with a 5 Star Green Star rating for all new developments, which requires a 10% reduction of embodied carbon against business-as-usual.

 3. Offset

We have put a cost on carbon and allocated a carbon budget for each project. This allows us to eliminate any remaining emissions with high-quality Australian and international nature-based offsets, like afforestation and reforestation projects. These projects were selected after careful due diligence and are aligned with the Australian Government’s Climate Active guidelines. By offsetting our emissions with credible and verifiable projects, we not only reduce greenhouse emissions, we also enhance biodiversity, support Indigenous businesses and contribute to job creation in regional and rural areas.

Eliminating embodied carbon from construction is an enormous global challenge. Data gaps are wide, supply chains opaque and standards inconsistent. Goodman is collaborating with governments, industry bodies and supply chains around the world to set consistent benchmarks and standard methods of measurement of embodied carbon. And we continue to work closely with our suppliers and construction partners to reduce embodied carbon emissions.