Glenveagh Properties PLC

Glenveagh Properties PLC, headquartered in IE and operating in the construction sector, has outlined significant climate commitments and reported its carbon emissions.

For the fiscal year 2024, Glenveagh Properties PLC reported total greenhouse gas emissions of approximately 237.6 million kg CO2e. This total comprises Scope 1 emissions of about 1.1 million kg CO2e, Scope 2 emissions (market-based) of approximately 0.4 million kg CO2e, and substantial Scope 3 emissions totalling around 236.1 million kg CO2e. The largest contributors to Scope 3 emissions were purchased goods and services (approximately 234.2 million kg CO2e) and the use of sold products (about 57.5 million kg CO2e).

In fiscal year 2023, the company's total emissions were approximately 206.3 million kg CO2e. This breaks down to about 3.2 million kg CO2e for Scope 1, approximately 0.35 million kg CO2e for Scope 2 (market-based), and roughly 202.8 million kg CO2e for Scope 3, with purchased goods and services and the use of sold products being the most significant categories.

Glenveagh Properties PLC is committed to reaching net-zero greenhouse gas emissions across its value chain by 2050, with a 2021 base year. As part of its near-term targets, the company aims to reduce absolute Scope 1 and 2 GHG emissions by 46.2% by 2031. Furthermore, it commits to reducing Scope 3 GHG emissions by 55.0% per 100 square metres of completed floor area within the same timeframe. For the long term, Glenveagh aims to reduce absolute Scope 1 and 2 GHG emissions by 90% by 2050 and Scope 3 GHG emissions by 97% per 100 square metres of completed floor area. These targets are validated by the Science Based Targets initiative (SBTi) and are consistent with limiting global warming to 1.5°C.