Riocan Real Estate Investment Trust, commonly known as Riocan, is a leading player in the Canadian real estate services industry, headquartered in Toronto, Ontario. Founded in 1993, the company has established itself as a prominent owner and manager of retail and mixed-use properties across major urban centres in Canada.
Specialising in the acquisition, development, and management of retail spaces, Riocan's portfolio includes a diverse range of shopping centres and commercial properties. The company is recognised for its strategic focus on high-traffic locations, which enhances its market position and appeal to tenants. With a commitment to sustainability and community engagement, Riocan continues to achieve notable milestones, solidifying its reputation as a trusted name in real estate services.
-7 vs industry average
Riocan’s score of 21 is lower than 38% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Industry Intensity
Real Estate Services has above-average carbon intensity
Industry performance
The Real Estate Services industry has reduced its overall emissions by 42% since 2019
Emissions trajectory 2020 – 2027
Reported emissions
Scope 3 accounts for ••• of total emissions.
Riocan's reported carbon emissions
RioCan, a Canadian real estate services company, is committed to achieving net-zero greenhouse gas emissions across its value chain by 2050. For its fiscal year ending in 2024, RioCan reported total Scope 1 and Scope 2 emissions amounting to approximately 9.8 million kg CO2e (7.1 million kg CO2e for Scope 1 and about 2.9 million kg CO2e for Scope 2). In its near-term targets, RioCan aims to reduce Scope 3 emissions from capital goods by 55.0% on an intensity basis (kg CO2e per square foot) by 2030, using 2019 as its base year. The company's reporting indicates that Scope 3 emissions data was not disclosed for the 2024 reporting year. Historical emissions data shows that for 2021, RioCan's total Scope 1 and 2 emissions were approximately 10.99 million kg CO2e, comprising about 7.76 million kg CO2e for Scope 1 and roughly 3.23 million kg CO2e for Scope 2. In 2020, total Scope 1 and 2 emissions were approximately 12.75 million kg CO2e, with Scope 1 at about 10.56 million kg CO2e and Scope 2 at approximately 2.19 million kg CO2e. Prior to 2020, specific emissions figures for Scope 1, 2, or total emissions were not disclosed. RioCan's climate commitments are not cascaded from a parent organisation, with its reporting and targets originating from the company itself.
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Riocan’s Climate Goals (2030 & 2050)
2 goals2030
55% reduction in scope 3 upstream
Reduce Scope 3 emissions from capital goods (i.e., new developments) by 55.0% on an intensity basis (tCO2e/square foot) by 2030 from a 2019…
2030
62% reduction in total GHG
Vs 2019 baseline. Validated by SBTi. Includes full supply chain.
2040
50% reduction in Scope 3 intensity
Across purchased goods and services and logistics.
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Scope 3 top emissions categories
No scope 3 category breakdown has been disclosed yet.
Climate initiatives

Science Based Targets Initiative

Carbon Disclosure Project
The Climate Pledge
UN Global Compact Climate Champions initiative
RE 100
Climate Action 100
Emissions comparison with industry peers
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Common questions about Riocan’s sustainability data and climate commitments
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