Sonae Sierra

Sonae Sierra, a Portuguese real estate services company, reported total carbon emissions of approximately 10.57 billion kg CO2e in 2025. This includes Scope 1 emissions of 65.69 million kg CO2e, Scope 2 emissions (market-based) of 74.93 million kg CO2e, and Scope 3 emissions of approximately 10.43 billion kg CO2e. The largest contributors to Scope 3 emissions were purchased goods and services, accounting for about 8.15 billion kg CO2e, and use of sold products, at approximately 1.24 billion kg CO2e.

Looking back, in 2024, the company's total emissions were approximately 9.47 billion kg CO2e, with Scope 1 at 79.35 million kg CO2e, Scope 2 (market-based) at 74.22 million kg CO2e, and Scope 3 at about 9.32 billion kg CO2e. In 2022, total emissions stood at approximately 8.99 billion kg CO2e, comprising Scope 1 emissions of 66.41 million kg CO2e, Scope 2 (market-based) of 105.05 million kg CO2e, and Scope 3 emissions of around 8.82 billion kg CO2e.

Sonae Sierra has set ambitious climate commitments, with its Science Based Targets initiative (SBTi) targets cascaded from Sonae Sierra, S.G.P.S., S.A. It aims to achieve net-zero greenhouse gas emissions across its value chain by 2040.

Near-term targets (by 2030, from a 2019 base year):

• Reduce Scope 1 and 2 GHG emissions by 73% per square metre.
• Reduce Scope 3 GHG emissions from purchased goods and services by 55% per square metre developed.
• Reduce all other absolute Scope 3 GHG emissions by 46.2%.

Long-term targets (by 2040, from a 2019 base year):

• Reduce Scope 1 and 2 GHG emissions by 99.4% per square metre.
• Reduce Scope 3 GHG emissions from purchased goods and services by 97% per square metre developed.
• Reduce all other absolute Scope 3 GHG emissions by 99.6%.

The company also has a specific internal target to reduce Scope 1 and 2 GHG emissions intensity to a maximum of 16.8 kg CO2e per square metre of Gross Leasable Area (GLA) by 2025, representing a minimum 12% reduction against its 2019 baseline.