Lar Espana Sustainability Profile
Lar España Real Estate Socimi, commonly referred to as Lar España, is a prominent player in the Spanish real estate sector, headquartered in Madrid, Spain. Founded in 2014, the company has rapidly established itself as a leader in the acquisition, development, and management of retail and commercial properties across key regions in Spain. Specialising in high-quality shopping centres and retail parks, Lar España focuses on enhancing the customer experience through innovative design and strategic location selection. The company has achieved significant milestones, including a robust portfolio that showcases its commitment to sustainability and community engagement. With a strong market position, Lar España is recognised for its impressive growth and resilience in the competitive real estate landscape, making it a trusted name for investors and stakeholders alike.
DitchCarbon Score
How does Lar Espana's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Real Estate Services industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Lar Espana's score of 44 is higher than 64% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Lar Espana's reported carbon emissions
In 2023, Lar España Real Estate SOCIMI, S.A. reported total greenhouse gas emissions of approximately 3,100,700 kg CO2e. This figure includes Scope 1 emissions of about 380,000 kg CO2e, Scope 2 emissions calculated using the location-based method at approximately 2,276,812 kg CO2e, and Scope 3 emissions of about 2,820,000 kg CO2e. The company has made significant strides in reducing its emissions, achieving a 19.8% reduction in Scope 1 emissions in the first half of 2023 compared to the same period in 2022, primarily through decreased fuel consumption for heating. Additionally, Scope 2 emissions have decreased by 32.3% when calculated using the location-based method, with the company sourcing 100% of its electricity from guaranteed renewable sources. Lar España has set ambitious targets to further reduce its emissions, committing to a 46% reduction in both Scope 1 and Scope 2 emissions by 2030 from a 2019 baseline. This commitment aligns with the Science Based Targets initiative (SBTi) and reflects the company's dedication to responsible and sustainable business practices. The long-term goal includes achieving carbon neutrality by 2050, in line with the most favourable scenarios outlined by the Intergovernmental Panel on Climate Change (IPCC). Overall, Lar España's proactive approach to emissions reduction and commitment to sustainability positions it as a responsible player in the real estate sector in Spain.
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| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Scope 1 | 730,000 | 000,000 | 000,000 | 000,000 | 000,000 |
| Scope 2 | 1,305,000 | 0,000,000 | 0,000,000 | 000,000 | - |
| Scope 3 | 4,709,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 |
How Carbon Intensive is Lar Espana's Industry?
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Lar Espana's Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
Lar Espana has established climate goals through participation in recognized frameworks and target-setting initiatives. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
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Frequently Asked Questions
Common questions about Lar Espana's sustainability data and climate commitments