Sonae Sierra

Sonae Sierra, a Portuguese real estate services company, has reported its carbon emissions and set ambitious climate commitments.

Carbon Emissions:

In 2025, Sonae Sierra's total reported greenhouse gas emissions were approximately 10.57 billion kg CO2e. This included Scope 1 emissions of 65.69 million kg CO2e, Scope 2 market-based emissions of 74.93 million kg CO2e, and Scope 3 emissions of approximately 10.43 billion kg CO2e. Key contributors to Scope 3 emissions were purchased goods and services (approximately 8.15 billion kg CO2e) and use of sold products (approximately 1.24 billion kg CO2e).

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

For 2019, Sonae Sierra reported Scope 1 emissions of 8.98 million kg CO2e and Scope 2 emissions of 10.53 million kg CO2e. Scope 3 emissions in 2019 were 564.21 million kg CO2e, with business travel accounting for a significant portion at 434.92 million kg CO2e.

Climate Commitments:

Sonae Sierra has set Science Based Targets initiative (SBTi) approved targets, aligning with a 1.5°C warming trajectory. These targets are cascaded from Sonae Sierra, S.G.P.S., S.A.

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%.

Sonae Sierra also commits to reach net-zero greenhouse gas emissions across its entire value chain by 2040. Separately, Sonae and its portfolio companies, from which Sonae Sierra's targets are inherited, pledged to reduce their Scope 1 and 2 emissions by 54% by 2030, compared to 2018 levels.