Covivio

Covivio, headquartered in France and operating in financial intermediation services, has reported its carbon emissions and climate commitments.

Carbon Emissions:

In 2023, Covivio reported Scope 1 emissions of approximately 2.09 million kg CO2e, Scope 2 emissions of approximately 3.01 million kg CO2e, and Scope 3 emissions totalling approximately 162.09 million kg CO2e, comprising capital goods, business travel, employee commute, purchased goods and services, waste generated in operations, and fuel and energy-related activities.

For 2022, total emissions were approximately 64.29 million kg CO2e, including Scope 1 at approximately 1.54 million kg CO2e, Scope 2 at approximately 3.52 million kg CO2e, and Scope 3 at approximately 59.23 million kg CO2e.

In 2021, the company's total emissions were approximately 48.65 million kg CO2e, with Scope 1 at approximately 2.22 million kg CO2e, Scope 2 at approximately 2.44 million kg CO2e, and Scope 3 at approximately 43.99 million kg CO2e.

Earlier data includes 2020 with Scope 1 and 2 emissions of approximately 13.84 million kg CO2e and Scope 3 emissions of approximately 422.61 million kg CO2e. In 2019, Scope 1 and 2 emissions amounted to approximately 3.59 million kg CO2e. For 2018, Scope 1 and 2 emissions were approximately 4.41 million kg CO2e.

Climate Commitments and Reduction Targets:

Covivio is committed to aligning its directly managed activities with a 1.5°C trajectory. This includes a target to achieve a 63% reduction in absolute emissions for Scopes 1 and 2 between 2015 and 2030. Specifically, Scope 1 emissions are targeted for a 30% reduction from a 2020 baseline by 2030, and Scope 2 emissions are targeted for a 25% reduction from a 2020 baseline by 2030.

Furthermore, Covivio aims for a "Net Zero Carbon" contribution from 2030. The company has also set a target to reduce absolute Scope 3 GHG emissions from purchased goods and services and downstream leased assets by 37.5% by 2030, against a 2015 baseline. In addition to these targets, Covivio is studying the new Science Based Targets initiative (SBTi) framework for the real estate sector, considering alignment with a 1.5°C trajectory for scopes 1, 2, and 3 related to the use of buildings, with a net zero carbon contribution by 2050. They also aim to reduce energy consumption by 25% by 2030 (2019 basis) for tertiary assets and have a near-term target to contribute to Net Zero artificialisation from 2024.