Boston Properties

Boston Properties Carbon Emissions and Climate Commitments

In 2024, Boston Properties reported total greenhouse gas emissions of approximately 406.2 million kg CO2e. This figure encompasses Scope 1 emissions totalling approximately 12.6 million kg CO2e, Scope 2 emissions at approximately 80.5 million kg CO2e, and Scope 3 emissions amounting to approximately 357.6 million kg CO2e.

Looking back, in 2023, the company's total emissions were approximately 616.7 million kg CO2e, with Scope 1 at approximately 12.0 million kg CO2e, Scope 2 at approximately 16.8 million kg CO2e (market-based), and Scope 3 at approximately 512.4 million kg CO2e. In 2022, total emissions were approximately 432.1 million kg CO2e, with Scope 1 at approximately 13.4 million kg CO2e, Scope 2 at approximately 30.9 million kg CO2e (market-based), and Scope 3 at approximately 388.6 million kg CO2e. For 2021, total emissions were approximately 171.8 million kg CO2e, with Scope 1 at approximately 13.0 million kg CO2e, Scope 2 at approximately 67.8 million kg CO2e (market-based), and Scope 3 at approximately 111.1 million kg CO2e.

Climate Commitments and Targets:

Boston Properties has established several climate-related commitments and targets:

• Carbon Neutral Operations: The company has committed to achieving carbon-neutral operations, meaning net-zero carbon dioxide equivalent emissions, by 2025. This commitment extends to direct and indirect Scope 1 and Scope 2 emissions associated with operations at actively managed office buildings. Notably, Boston Properties has stated that it officially achieved this goal as of December 31, 2024.

• Intensity Reduction Targets:

  • Boston Properties has set a near-term target to reduce Scope 1 and Scope 2 GHG emissions intensity by 73.57% per square metre by 2030, using a 2018 base year.
  • Further, they aim to reduce Scope 3 GHG emissions from purchased goods and services and downstream leased assets by 58.14% per square metre within the same timeframe (by 2030 from a 2018 base year).
  • Previously, a near-term target was set to reduce Scope 1 and Scope 2 GHG emissions intensity by 39% by 2024 from a 2018 base year.
  • There was also a target to reduce Scope 3 GHG emissions intensity by 14% by 2025 from a 2018 base year.

• Science-Based Targets: Boston Properties has targets validated by the Science Based Targets initiative (SBTi), including near-term intensity reductions for Scope 1, 2, and 3 emissions. They also have a long-term commitment towards net-zero emissions by 2050.

The company's climate data and targets are sourced from their own sustainability reports, with some targets aligning with SBTi commitments. Boston Properties does not appear to cascade emissions data from a parent organisation.