Greenhouse Gas Emissions Inventory Report - Prepared in accordance with Part 7.3.1 of ISO 14064-1:2006 - Goodman (NZ)
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Greenhouse Gas Emissions Inventory Report Prepared in accordance with Part 7.3.1 of ISO 14064-1:2006 Highbrook Business Park, East Tamaki, Auckland
2 Greenhouse Contents 2 Gas Emissions Inventory Report September 2020 Greenhouse Gas Emissions Inventory summary 4 1. Introduction 7 2. Statement of intent 7 3. Organisation description 7 4. Organisational boundaries included for this reporting period 7 5. Organisational business units excluded from inventory 9 6. GHG emissions source inclusions 10 7. GHG emissions source exclusions 11 8. Data collection and uncertainties 12 9. GHG emissions calculations and results 13 10. GHG emissions comparisons 14 11. Liabilities 14 11.1 GHG stocks held 14 11.2 Land-use change 14 12. References 14 Electric forklifts reduce emissions and maximize air quality within warehouse spaces. Goodman (NZ) Limited Person responsible: Jonathan Simpson (Head of Corporate Affairs) Prepared by: Craig Stephens (Engineering and Building Services Manager) Dated: 4th June 2020 Verification status: Submission For the period: 1/4/2019 to 31/03/2020 Base year: 1/4/2019 to 31/03/2020
OfficeMax, a customer at Highbrook Business Park, is about to commence a rooftop solar project that will provide more than 20% of its electricity requirements. CourierPost, also at Highbrook Goodman are progressively Energy efficient technologies are Business Park, has a 4 Green Star renewing its vehicle fleet, integrated into the fit out of the Performance rating with electric cars. Goodman management office. Highbrook is a world class business park that features extensive landscaping and recreational reserves
4 Greenhouse Gas Emissions Greenhouse Gas Emissions Inventory summary Greenhouse Inventory Report September 2020 Table 1: GHG emissions data summary 2019/20 Base year Scope 1 596.25 Scope 2 173.05 Scope 3 108.01 Total gross emissions 887.31 Total GHG emissions per FTE - Full Time Employee 13.29 Total GHG emissions per revenue, property income ($Millions) 6.04 Total GHG emissions per revenue, Net Lettable area (sqm) 0.000828 Note: total mandatory emissions includes scope 1, scope 2, and scope 3 (i.e. excludes scope 3 one-time and scope 3 additional). Table 2: Gross organisation GHG emissions by scope for current measurement year Indicator tCO2e Scope 1 Other fuels 28.83 Other gases 0 Transport – other 0.31 Transport fuels 114.21 Refrigerant 452.90 Scope 2 Electricity 173.05 Scope 3 Flights 63.22 Travel 1.87 Vehicle claims 2.02 Courier 0.39 Waste 40.51 Total gross emissions 887.31
5 Greenhouse Table 3: Greenhouse Gas Emissions Inventory Report GHG emissions inventory summary by scope and greenhouse gas September 2020 Component gas Scope 1 Scope 2 Scope 3 Total Removals After removals CH4 0.00 0.00 0.00 0.00 0.00 0.00 CO2 143.35 173.05 108.01 424.41 0.00 424.41 HFCs 452.90 0.00 0.00 452.90 0.00 452.90 N2O 0.00 0.00 0.00 0.00 0.00 0.00 PFCs 0.00 0.00 0.00 0.00 0.00 0.00 SF4 0.00 0.00 0.00 0.00 0.00 0.00 Total 596.25 173.05 108.01 877.31 0.00 877.31 Table 4: Mobile and stationary combustion of biomass Biomass Mass tCO2e Biomass & Biofuels (Energy) 0.00 0.00 Table 5: Deforestation of two hectares or more Source Mass tCO2e Deforestation 0.00 0.00 Table 6: GHG stock liability (see Table 14: for mass of individual gases) GHG gas Potential Liability tCO2e Total 40,043.35
6 Greenhouse Table 7: Greenhouse Gas Emissions Inventory Report Land-use liabilities September 2020 Type of sequestration Liability tCO2e Contingent liability (carbon sequestered this reporting period) 0.00 Potential sequestration liability (total carbon stock) 0.00 Table 8: Renewable electricity generation on-site Renewable generation on-site kWh generated tCO2e avoided Head office 0.00 0.00 Recycling and waste management strategies help minimise Goodman's GHG emissions.
7 Greenhouse Gas Emissions 1. Introduction 3. Organisation description Introduction Inventory Report This document is the annual greenhouse gas emissions report for Goodman (NZ) Limited GNZ is the Manager of GMT, an NZX listed Unit Trust that invests in industrial property across Statement of September 2020 intent (“GNZ”). GNZ is the Manager of the NZX Listed Goodman Property Trust (“GMT’ or “Trust”). Auckland. With a $3.1 billion property portfolio, GMT is the largest investor in Industrial property in Organisation GNZ is a subsidiary of the ASX listed Goodman Group (“GMG”). GMG is also a cornerstone description New Zealand. Following the repositioning of the portfolio over the last five years, with around investor in GMT. Goodman Property Services (NZ) Limited (“GPSNZ”) is another subsidiary of Organisational $1.2 billion of asset sales, 2020 has been adopted as the new base year for emissions reporting. boundaries GMG employing the 60 staff that provide the management and development services to the included for this GNZ follows the Ministry for the Environment’s Guidance for Voluntary, Corporate Greenhouse Trust. reporting period Gas Reporting and uses Ministry for the Environment’s “Measuring Emissions: A Guide for Organisations. 2019 Summary of Emission Factors” for the emission factor selection used in this 4. Organisational boundaries included for this reporting period report. The boundary for this inventory includes the investment and operational activities of Goodman in The inventory is a complete and accurate quantification of the GHG emissions that can be New Zealand relating to Goodman Property Trust. directly attributed to GNZ’s operations within the declared boundary and scope for the specified The entities that own the property assets of the Trust include, Goodman Nominee (NZ) Limited, reporting period. Highbrook Business Park Limited and Highbrook Development Limited. The Trust jointly owns An operational control approach was adopted when identifying greenhouse gas emission properties with GMG in Goodman Nominee (NZ) No. 2 Limited. sources. The operations of the management entity, GNZ, and the property, development and corporate Please note that GNZ is updating its emissions baseline year to align with this report. Over service provider, GPSNZ, are also included within the organisational boundaries. the past 6 years Goodman Property Trust has been extensively repositioned by GNZ. The The emission data is measured by activity multiplied by emissions factors. investment strategy has been refined and the Trust is now almost exclusively invested in the Auckland industrial market. Through the sale of office assets and new industrial development Figure 1: the composition of the portfolio has changed. Industrial space now makes up over 88% of the Simplified organisational boundary for GHG reporting Trust’s 1.1 million sqm property portfolio (75% in 2014) while the proportion of office space has reduced to less than 12%. Other reasons supporting the update to the baseline year include: Goodman Additional Scope 1 Inventory, first year measuring and reporting on refrigerant losses and Property diesel fuel use for Fire Pumps. Goodman (NZ) Trust Goodman Limited Property Large reduction in Scope 2 Inventory, due the sale of our office portfolio over the last few Services (NZ) Limited years has significantly reduced GNZ purchased electricity. NZX listed Unit Trust NZ employer & provider of property, Additional Scope 3 Inventory, first year measuring and reporting on flights, staff travel and Manager of GMT development & legal services to GMT freight. 2. Statement of intent Goodman Goodman Highbrook This inventory forms part of the organisation’s commitment to monitoring and managing its Nominee (NZ) Nominee (NZ) Development No. 2 Limited Limited Limited greenhouse gas emissions to mitigate the impact of climate change. This commitment includes the following targets; Owns properties the subject of GMT & Owns GMT wholly owned properties & Owns development land & stabilised properties GMG’s co-ownership interests in some third at Highbrook Business agreement party JV entities Park 1. 100% renewable energy use by 2025 2. Carbon neutral operations by 2025. Highbrook The inventory is also intended to be used as the primary source of information required for the Business Park organisations CDP reporting. Limited Owns Stages 1 and 2 at Highbrook Business Park
8 Greenhouse Table 10: Greenhouse Gas Emissions Inventory Report Brief description of business units in the certifying entity September 2020 Business unit Address Purpose Goodman Property Trust (“GMT”) Level 2, KPMG Centre NZX listed Unit Trust, investing in 18 Viaduct Harbour Avenue high-quality industrial property across Auckland Auckland. Current value of property portfolio is $3.1 billion. Goodman (NZ) Limited (“GNZ”) Level 2, KPMG Centre Manager of GMT, subsidiary of ASX 18 Viaduct Harbour Avenue listed Goodman Group. No staff, seven Auckland directors. Goodman Property Services (NZ) Level 2, KPMG Centre Provider of property, development and Limited (“GPS”) 18 Viaduct Harbour Avenue corporate services to GMT. Subsidiary Auckland of ASX listed Goodman Group. Employs 60 staff. Goodman House Operates two offices Level 1/60 Highbrook Drive Auckland 2013 Goodman Nominee (NZ) Limited Level 2, KPMG Centre Entity that owns GMT investment and 18 Viaduct Harbour Avenue development properties and interests in Auckland JV’s. GHG reporting includes sources under operational control Highbrook Development Limited Level 2, KPMG Centre Entity that owns certain properties, 18 Viaduct Harbour Avenue including the development land, at Auckland Highbrook Business Park. GHG reporting includes sources under operational control Highbrook Business Park Limited Level 2, KPMG Centre Entity that owns certain investment 18 Viaduct Harbour Avenue properties at Highbrook Business Park. Auckland GHG reporting includes sources under operational control Goodman Nominee (NZ) No. 2 Limited Level 2, KPMG Centre Entity that holds jointly owned 18 Viaduct Harbour Avenue properties of GMT and Goodman Group. Auckland Comprises mainly land assets with a combined value of less than $5 million. GHG reporting includes sources under operational control and represent 100% of the assets.
9 Greenhouse Gas Emissions 5. Organisational business units excluded from inventory Organisational business units Inventory Report The following entities are excluded from inventory as they are either; unrelated to the investment excluded from September 2020 inventory and operational activities of Goodman in New Zealand relating to Goodman Property Trust or no longer active. Table 11: Excluded operational business units Business unit Description Henshaw Holdings Limited Former property-owning JV, where the assets have been sold Henshaw Goodman Limited GMT Bond Issuer Limited Financing entities GMT Wholesale Bond Issuer Highbrook Park Trust A Trust that owns the reserves and parklands around Highbrook Highbrook Management Limited Service provider to Highbrook Park Trust Goodman Finance NZ Limited Financing entity within Goodman Group Goodman (Paihia) Limited Property and asset owning subsidiaries of Goodman Group Goodman Investment Holdings (NZ) Limited Goodman (Wynyard Precinct) Limited A green wall, natural materials and low VOC finishes are features of Goodman's Green Star rated office fit out.
10 Greenhouse Gas Emissions 6. GHG emissions source inclusions GHG emissions source Inventory Report inclusions September 2020 Table 12: GHG emissions sources included in the inventory Business unit GHG emissions GHG emissions Data source Data collection Uncertainty (description) source level scope unit Fuel Card Goodman Property Services (NZ) Limited Petrol (Cars) Scope 1 Litres N/A, Reports provided assume data is complete from supplier. report Fuel Card Goodman Property Services (NZ) Limited Diesel (Cars) Scope 1 Litres N/A, Reports provided assume data is complete from supplier. report Goodman Property Services (NZ) Limited Electric Car Scope 2 Logbooks KM N/A, record books completed. Goodman Nominee (NZ) Limited (including Highbrook Development Limited, Diesel Fuel Fire Goodman N/A, complete record of diesel fuel charged by contractors Scope 1 Litres for refuelling Highbrook Business Park Limited and Pumps Online Goodman Nominee (NZ) No. 2 Limited) Goodman Nominee (NZ) Limited (including Highbrook Development Limited, HVAC N/A, complete record of refrigerant charged by contractors Refrigerant Scope 1 KG for replacement of lost refrigerant Highbrook Business Park Limited and Contractor Goodman Nominee (NZ) No. 2 Limited) The report is based on consumption data from building areas and building services under operational control. It accurately divides each Goodman Nominee (NZ) Limited Smart Power – invoices consumption into the right month i.e. if an invoice going from (including Highbrook Development Limited, 3rd Party the 15th April to the 15 May, average daily consumption is calculated Electricity Scope 2 kWhr and then applied to each portion of the invoice (15 days in April Highbrook Business Park Limited and power Goodman Nominee (NZ) No. 2 Limited) verification and 15 day in May. Therefore, all level of discrepancy due to billing periods is eliminated and consumption data is accurate from the beginning to the end of each month. The report is based on consumption data which accurately divide Smart Power – each invoices consumption into the right month i.e. if an invoice 3rd Party going from the 15th April to the 15 May, average daily consumption Goodman Property Services (NZ) Limited Electricity Scope 2 kWhr is calculated and then applied to each portion of the invoice (15 days power in April and 15 day in May. Therefore, all level of discrepancy due to verification billing periods is eliminated and consumption data is accurate from the beginning to the end of each month. Flights, N/A, International – consumption data from company Travel Card Goodman Property Services (NZ) Limited International Scope 3 Airline KM and airline invoices. and Domestic N/A, Domestic – consumption data from company Travel Card Goodman Goodman Property Services (NZ) Limited Taxi Scope 3 Dollars N/A, Details of all fares paid by Goodman staff Finance Goodman Property Services (NZ) Limited Uber Scope 3 Uber KM N/A, Details downloaded from account. Goodman Goodman Property Services (NZ) Limited Mileage Scope 3 KM N/A, Details of all mileage claims from Goodman staff Finance
11 Greenhouse GHG emissions Gas Emissions source Inventory Report exclusions September 2020 Business unit GHG emissions GHG emissions Data source Data collection Uncertainty (description) source level scope unit Goodman Goodman Property Services (NZ) Limited Rental Cars Scope 3 Dollars N/A, Details downloaded from account. Finance Goodman Goodman Property Services (NZ) Limited Courier Scope 3 Dollars N/A, Details downloaded from account. Finance Goodman Nominee (NZ) Limited (including Highbrook Development Limited, Highbrook Waste N/A, Complete record of waste charged by contractors for building General Waste Scope 3 KG areas and building services under operational control. Business Park Limited and Goodman provider Nominee (NZ) No. 2 Limited) 7. GHG emissions source exclusions Table 13: GHG emissions sources excluded from the inventory Business unit GHG emissions source GHG emissions level scope Reason for exclusion Goodman Nominee (NZ) Limited Electricity consumption from building areas and building services paid (including Highbrook Development Limited, Electricity Scope 2 directly by the customer. Excluded as it is outside operational control. Highbrook Business Park Limited and This includes electricity recharged to Tenants. Goodman Nominee (NZ) No. 2 Limited) Goodman Nominee (NZ) Limited (including Highbrook Development Limited, Electricity Scope 2 Electricity purchased and recharged directly to tenants. Highbrook Business Park Limited and Goodman Nominee (NZ) No. 2 Limited) Goodman Nominee (NZ) Limited (including Highbrook Development Limited, Waste generated and disposed of directly by the customer. Excluded as Waste to landfill Scope 3 Highbrook Business Park Limited and it is outside operational control. Goodman Nominee (NZ) No. 2 Limited) Goodman Nominee (NZ) Limited Recycling, data collected from operational control is excluded. As well (including Highbrook Development Limited, Recycling Scope 3 recycling disposed of directly by the customer as it is outside operational Highbrook Business Park Limited and control. Goodman Nominee (NZ) No. 2 Limited)
12 Greenhouse Data Gas Emissions collection and Inventory Report uncertainties September 2020 Business unit GHG emissions source GHG emissions level scope Reason for exclusion Goodman Nominee (NZ) Limited (including Highbrook Development Limited, Development The activities and operations of development contractors are excluded as it Scope 2 Highbrook Business Park Limited and electricity is outside operational control. Goodman Nominee (NZ) No. 2 Limited) Goodman Nominee (NZ) Limited (including Highbrook Development Limited, The activities and operations of development contractors are excluded as it Development Gas Scope 1 Highbrook Business Park Limited and is outside operational control. Goodman Nominee (NZ) No. 2 Limited) Goodman Nominee (NZ) Limited (including Highbrook Development Limited, The activities and operations of building contractors are excluded as it is Development Waste Scope 3 Highbrook Business Park Limited and outside operational control. Goodman Nominee (NZ) No. 2 Limited) Goodman Property Services (NZ) Limited Staff commuting Scope 3 Excluded as it is outside operational control. 8. Data collection and uncertainties Scope 1 data is predominately provided from Fuel Card reports. The exception is diesel fuel consumption relating to fire pump testing, this is provided by the contractor and is manually collated. Refrigerant emissions are provided by the HVAC contractor and include the volume of gas required to re-gas existing HVAC systems after damage or repair. Scope 2 data includes electricity from the operation of the management offices and from building areas and building services, within the portfolio, under operational control. In all cases the data is provided by Smart Power, an independent service provider. Scope 3 data includes mileage expense claims from staff using personal vehicles for business. This is extracted from the Fraedom expense management system which tracks individual trips and generates summary reports. Taxi travel is taken from company credit card use or expense claims that is also are entered through the Fraedom system. Travel via Uber is taken from an annual summary of the Goodman account. With no dedicated travel service provider, business trips are booked directly. Domestic and international flight data is extracted from the ledger with the description of each trip used to assess distance using online tools with relevant short haul and long-haul factors then used to calculate emissions. Solar energy initiatives allow Waste volumes are provided by the contractors for building areas and building services under customers to reduce operating costs. operational control.
13 Greenhouse Gas Emissions 9. GHG emissions calculations and results GHG emissions calculations Inventory Report and results September 2020 GHG Figure 3: Emissions (tonnes Co2e) (tonnes CO2e) GHG Emissions Scope 1 596.25 Scope 2 173.05 Scope 3 108.01 GHG Emissions by Gas Figure 4: GHG Emissions by Gas (tonnes CO2e) (tonnes Co2e) Scope 1 452.903 143.35 Scope 2 173.05 Scope 3 108.01 CO2 HFCs
14 Greenhouse Gas Emissions 10. GHG emissions comparisons GHG emissions comparisons Inventory Report Not applicable, Financial Year 2019/2020 is the restated base year. September 2020 Liabilities 11. Liabilities 11.1 GHG stocks held(1) Table 14: HFCs, PFCs and SF6 GHG emissions and liabilities GHG gas Amount held – Amount held – Potential Liability tCO2e start of reporting period end of reporting period CO2 32.62 32.62 32.62 HFCs 40,010.73 40,010.73 40,010.73 Total 40,043.35 40,043.35 40,043.35 CO₂ relates to diesel held in storage tanks for back up generators and fire pumps. HFCs, is an estimate of the refrigerant contained within the HVAC systems of the office buildings within the portfolio. It is established by applying a typical system volume factor to an aggregated office space area, adding in large chiller plant. There no detailed inventory has been undertaken at this point in time. (1) HFC stock liabilities for systems under 3 kg can be excluded. 11.2 Land-use change Not applicable. 12. References https://www.mfe.govt.nz/sites/default/files/media/Climate%20Change/2019-emission-factors-summary.pdf http://www.mfe.govt.nz/publications/climate-change/measuring-emissions-guide-organisations-2019-quick-guide https://www.airnewzealand.co.nz/ Toitū Carbonzero programme
The Panasonic distribution facility LED lighting and skylights at Highbrook Business Park has a are features of every new 3 Green Star Performance rating. warehouse development. Rainwater harvesting utilises the expansive roof area of modern warehouses. End of trip facilities encourage Smart technologies and alternative transport options. automated building systems maximise energy efficiency. CourierPost is one of four Storm-water retention ponds are integrated New Zealand Post businesses into the esplanade reserve areas at Highbrook. located at Highbrook.
INDEPENDENT ASSURANCE STATEMENT ISO 14064-1:2006 GHG verification TO THE DIRECTORS OF THE TOITŪ ENVIROCARE BOARD Responsible Party: Goodman Property Services (NZ) Limited Registered address: Level 28, 151 Queen Street - Auckland 1010 -New Zealand Inventory period: 01/04/2019 - 30/03/2020 Inventory report: Goodman (NZ) Limited EIR Audit Submission.docx Contract: Goodman Property Services (NZ) Limited - 19/05/2020 We have reviewed the greenhouse gas emissions inventory report (“the inventory report”) for the above named Responsible Party for the stated inventory period. BOARD OF DIRECTORS’ RESPONSIBILITIES (RESPONSIBLE PARTY) The Board of Directors of the Responsible Party is responsible for the preparation of an inventory report which gives a true and fair view of the greenhouse gas emissions of the Responsible Party in accordance with ISO 14064-1:2006 VERIFIERS’ RESPONSIBILITIES It is our responsibility to express to you an independent opinion on the inventory report presented by the Board of Directors of the Responsible Party. Our verification was undertaken as agreed in the Contract which defines the scope, objectives, criteria and level of assurance of the verification. BASIS OF OPINION The subject matter contained in the inventory report is based on historical information for the stated inventory period. Our review was carried out in accordance with the criteria stated in ISO 14064-1:2006. The verification included examination, on a test basis, of the evidence relevant to the information and data disclosed in the inventory report. It also included assessment of the assumptions and judgements made by the Responsible Party in the preparation of the inventory report. We conducted our verification in accordance with ISO 14064-3:2006 and the requirements of the Toitū carbon programme Verifier Manual. We planned and performed our verification so as to obtain all the information and explanations which we considered necessary in order to provide us with sufficient evidence to obtain the specified level of assurance that the inventory report is free from material misstatements, whether caused by error or fraud. In forming our opinion we also evaluated the overall adequacy of the presentation of information and data in the inventory report. Assurance Statement Template v2.0 ©Enviro-Mark Solutions Limited 2016 Page 1 of 2
Other than in our capacity as an independent verifier of the emissions inventory we have no relationship with or interests in the Responsible Party. RESPONSIBLE PARTY’S GREENHOUSE GAS ASSERTION (CERTIFICATION CLAIM) Goodman Property Trust including Goodman (NZ) Limited, Goodman Property Services (NZ) Limited, Goodman Nominee (NZ) Limited, Highbrook Development Limited, Highbrook Business Park Limited and Goodman Nominee (NZ) No. 2 Limited has measured its greenhouse gas emissions in accordance with ISO 14064-1:2006, with respect to the operational activities of its organisation. OPINION: REASONABLE ASSURANCE We have obtained all the information and explanations we have required. In our unqualified reasonable assurance opinion, the Scope 1, 2, and selected Scope 3 emissions defined in the inventory report: • comply with ISO 14064-1:2006 requirements; and • provide a true and fair view of the emissions inventory of the Responsible Party for the stated inventory period. QUALIFICATIONS None ACHIEVED LEVEL OF ASSURANCE Reasonable Verified by: Authorised by: Name: Sonia Groes-Petrie Name: Belinda Mathers Position: Verifier, Toitū Envirocare Position: Certifier, Toitū Envirocare Signature: Signature: Date verification audit: 22-23/06/2020 Date opinion expressed: 10/07/2020 Date: 31/07/2020 Assurance Statement Template v2.0 ©Enviro-Mark Solutions Limited 2016 Page 2 of 2
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