Orix Jreit

ORIX JREIT: Carbon Emissions and Climate Commitments

ORIX JREIT, a real estate services company headquartered in Japan, has established ambitious targets for reducing its carbon emissions and achieving net-zero.

Carbon Emissions Data:

• 2020: ORIX JREIT reported total GHG emissions of approximately 69,022,000 kg CO2e. This included Scope 1 emissions of approximately 784,000 kg CO2e and Scope 2 emissions of approximately 17,644,000 kg CO2e. Scope 3 emissions for this year amounted to approximately 60,508,000 kg CO2e.
• 2019: Total emissions were approximately 62,985,000 kg CO2e. This comprised Scope 1 emissions of approximately 657,000 kg CO2e and Scope 2 emissions of approximately 13,504,000 kg CO2e. Scope 3 emissions were approximately 62,985,000 kg CO2e.
• 2018: Total reported emissions were approximately 54,942,000 kg CO2e, with Scope 1 emissions at approximately 1,348,000 kg CO2e and Scope 2 emissions at approximately 53,594,000 kg CO2e. Scope 3 data was not disclosed for this year.

Climate Commitments and Reduction Targets:

ORIX JREIT is committed to significant decarbonisation efforts, aligning with science-based targets. Key commitments include:

• Net-Zero by 2050: The company aims to achieve net-zero emissions by the year 2050.
• Scope 1, 2, and 3 Reduction: ORIX JREIT has set a target to reduce emissions across Scope 1, 2, and 3 by 90% by 2050, based on a 2021 baseline.
• Near-Term Reduction Target: By 2030, ORIX JREIT commits to reducing Scope 1 and Scope 2 greenhouse gas emissions by 42% from its 2021 baseline. The company also commits to measuring and reducing its Scope 3 emissions.
• Renewable Energy Use: ORIX JREIT plans to utilise 50% renewable energy in its Scope 1 and 2 operations by 2030.

These targets have been validated by the Science Based Targets initiative (SBTi) as consistent with limiting warming to 1.5°C.