Riocan Sustainability Profile
Riocan Real Estate Investment Trust, commonly known as Riocan, is a leading Canadian REIT headquartered in Toronto, Ontario. Established in 1993, the company has grown to become a prominent player in the retail and mixed-use property sectors, primarily operating across major urban regions in Canada. Riocan focuses on the acquisition, development, and management of retail and commercial properties, offering a diverse portfolio that includes shopping centres and mixed-use developments. Its unique approach combines strategic location selection with a commitment to sustainability, setting it apart in the competitive real estate market. With a strong market position, Riocan has achieved notable milestones, including a robust distribution track record and a reputation for high-quality assets. The company continues to adapt to evolving market trends, ensuring its relevance in the dynamic landscape of Canadian real estate.
DitchCarbon Score
How does Riocan'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
Riocan's score of 45 is higher than 65% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Riocan's reported carbon emissions
In 2021, Riocan Management Inc. reported total carbon emissions of approximately 10,991,000 kg CO2e, comprising about 7,761,000 kg CO2e from Scope 1 and about 3,230,000 kg CO2e from Scope 2 emissions. This reflects a decrease from 2020, when total emissions were about 12,753,000 kg CO2e, with Scope 1 emissions at approximately 10,560,000 kg CO2e and Scope 2 at about 2,193,000 kg CO2e. Riocan has set ambitious climate commitments, aiming to achieve net-zero greenhouse gas emissions across its value chain by 2050. The company has established several reduction targets, including a 90% reduction in absolute Scope 1, 2, and 3 emissions by 2050 from a 2019 baseline. Additionally, it aims to reduce absolute Scope 1 and 2 emissions by 46.2% by 2030, and Scope 3 emissions from downstream-leased assets by 28% within the same timeframe. Notably, Riocan also targets a 55% reduction in Scope 3 emissions from capital goods on an intensity basis (tCO2e/square foot) by 2030. These targets are aligned with the Science Based Targets initiative (SBTi) and reflect a commitment to industry-standard climate action. The data reported is not cascaded from any parent organization, ensuring that Riocan's emissions and commitments are independently verified.
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| 2020 | 2021 | |
|---|---|---|
| Scope 1 | 10,560,000 | 0,000,000 |
| Scope 2 | 2,193,000 | 0,000,000 |
| Scope 3 | - | - |
How Carbon Intensive is Riocan's Industry?
How Carbon Intensive is Riocan's Location?
Riocan'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.
Riocan 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.
