Daiwa House Reit

Daiwa House REIT Investment Corporation, headquartered in Japan and operating in Services auxiliary to financial intermediation, reported its latest emissions data for 2023.

In 2023, the company's total emissions were approximately 132.285 million kg CO2e. This included Scope 1 emissions of 195,000 kg CO2e and Scope 2 (market-based) emissions of 20,000 kg CO2e. Scope 3 emissions for 2023 totalled approximately 132.069 million kg CO2e, with significant contributions from downstream leased assets (114.71 million kg CO2e) and capital goods (15.967 million kg CO2e).

Looking back, in 2022, Daiwa House REIT Investment Corporation's total emissions were approximately 138.021 million kg CO2e, comprising Scope 1 emissions of 198,000 kg CO2e, Scope 2 (market-based) emissions of 26,000 kg CO2e, and Scope 3 emissions of approximately 137.796 million kg CO2e. In 2021, total emissions were approximately 122.141 million kg CO2e, with Scope 1 at 115,000 kg CO2e, Scope 2 (market-based) at 7.094 million kg CO2e, and Scope 3 at approximately 114.932 million kg CO2e. The company reported a Scope 3 total of 78.147 million kg CO2e in 2019 and 30.941 million kg CO2e in 2018.

Daiwa House REIT Investment Corporation has set several climate commitments. The company commits to reduce its Scope 1 and Scope 2 GHG emissions by 42% by 2030 from a 2020 base year. Additionally, they aim to measure and reduce their Scope 3 emissions. The company is committed to achieving net-zero greenhouse gas emissions across the entire value chain by 2050, also from a 2020 base year, which includes a 100% reduction in Scope 1, Scope 2, and Scope 3 emissions.

Furthermore, Daiwa House REIT Investment Corporation has set a goal to reduce GHG emissions in its business activities (Scope 1 and 2) by 70% from the FY2015 level by 2030. They also target a 10% reduction in energy consumption intensity and CO2 emission intensity for individual properties over the ten-year period from 2018 to 2027. These targets have been validated by the Science Based Targets initiative (SBTi) as consistent with reductions required to keep warming to 1.5°C, approved via a streamlined validation route for Small and Medium-sized Enterprises (SMEs).