Sonae Sierra

Sonae Sierra, a real estate services company headquartered in Portugal, has demonstrated a commitment to reducing its climate impact through ambitious reduction targets and transparent reporting.

For the year 2022, Sonae Sierra reported Scope 3 emissions totalling approximately 87.7 million kg CO2e. In 2023, Scope 3 emissions were approximately 77.1 tonnes CO2e, and in 2024, they were approximately 40.7 tonnes CO2e. Prior to 2022, specific emissions data for Scope 1, 2, and 3 was not consistently available in the provided records, with some years showing only Scope 1 and 2 data or general GHG emissions intensity figures. For instance, in 2019, Sonae Sierra reported total emissions of approximately 127.4 million kg CO2e, with Scope 1 at about 4.0 million kg CO2e, Scope 2 at about 10.7 million kg CO2e, and Scope 3 at about 112.6 million kg CO2e.

Sonae Sierra has set robust climate commitments, aligning with Science Based Targets initiative (SBTi) standards. Notably, the company has pledged to reduce its Scope 1 and 2 greenhouse gas (GHG) emissions by 73% per square metre by 2030, using 2019 as the base year. Furthermore, Sonae Sierra aims to reduce its Scope 3 GHG emissions from purchased goods and services by 55% per square metre developed by 2030, also based on a 2019 baseline. For all other absolute Scope 3 GHG emissions, the company commits to a reduction of 46.2% by 2030 from the 2019 baseline. Looking towards a net-zero future, Sonae Sierra has committed to reaching net-zero GHG emissions across its value chain by 2040. Long-term targets include reducing Scope 1 and 2 GHG emissions by 99.4% per square metre and Scope 3 GHG emissions from purchased goods and services by 97% per square metre by 2040, both from a 2019 base year. Additionally, other absolute Scope 3 GHG emissions are targeted for a 99.6% reduction by 2040.

It is important to note that Sonae Sierra's climate data and targets are cascaded from its ultimate parent company, Sonae Sierra, S.G.P.S., S.A., indicating a unified approach to climate strategy across the corporate family.