Unibail Rodamco Westfield

Unibail-Rodamco-Westfield (URW), a real estate services company headquartered in France, has established ambitious climate commitments alongside its reported carbon emissions.

Carbon Emissions:

In 2024, URW reported a total of approximately 4.24 billion kg CO2e. This breaks down into:

• Scope 1 emissions: Approximately 14.9 million kg CO2e
• Scope 2 emissions: Approximately 25.2 million kg CO2e (market-based) and 107.2 million kg CO2e (location-based)
• Scope 3 emissions: Approximately 4.20 billion kg CO2e, with downstream transportation and distribution being the largest contributor at approximately 3.30 billion kg CO2e.

In 2023, the company's total emissions were approximately 4.20 billion kg CO2e. This consisted of:

• Scope 1 emissions: Approximately 15.8 million kg CO2e
• Scope 2 emissions: Approximately 13.5 million kg CO2e (market-based) and 102.2 million kg CO2e (location-based)
• Scope 3 emissions: Approximately 4.18 billion kg CO2e.

Earlier data for 2022 showed total emissions of approximately 3.03 billion kg CO2e, with Scope 1 and 2 emissions at approximately 155.5 million kg CO2e (location-based) and Scope 3 at approximately 7.17 billion kg CO2e. In 2021, total emissions were approximately 2.76 billion kg CO2e, including Scope 1 and 2 (market-based) at approximately 43.5 million kg CO2e and Scope 3 at approximately 2.71 billion kg CO2e. For 2020, total emissions were approximately 2.43 billion kg CO2e, with Scope 1 and 2 (market-based) at approximately 45.6 million kg CO2e and Scope 3 at approximately 2.39 billion kg CO2e. In 2019, total emissions were approximately 4.27 billion kg CO2e, with Scope 1 and 2 (market-based) at approximately 94.8 million kg CO2e and Scope 3 at approximately 4.17 billion kg CO2e. For 2018, total emissions were approximately 2.02 billion kg CO2e, including Scope 1 and 2 (market-based) at approximately 126.0 million kg CO2e and Scope 3 at approximately 3.94 billion kg CO2e. In 2015, Scope 1 and 2 emissions were approximately 155.5 million kg CO2e (market-based) and Scope 3 emissions were approximately 3.31 billion kg CO2e.

Climate Commitments and Targets:

Unibail-Rodamco-Westfield is committed to achieving net-zero greenhouse gas (GHG) emissions across its value chain by 2050.

Key commitments include:

• Near-term targets (2030):
  • A reduction of 90% in absolute Scope 1 and 2 GHG emissions from a 2015 base year.
  • A reduction of 50% in absolute Scope 3 GHG emissions from a 2015 base year.
  • A reduction of 40% in Scope 3 GHG emissions related to downstream transportation and distribution per visitor by 2030 from a 2015 base year.
• Long-term targets (2050):
  • Maintaining at least 90% absolute Scope 1 and 2 GHG emissions reductions from 2030 through 2050 from a 2015 base year.
  • Reducing absolute Scope 3 GHG emissions by 90% by 2050 from a 2015 base year.

The company's targets are aligned with the Science Based Targets initiative (SBTi) and are considered consistent with reductions required to keep warming to 1.5°C. URW is actively working towards these goals, with some targets being on track.