Veris Residential

Veris Residential, a US-based real estate services company, is committed to reducing its carbon emissions. In 2024, the company reported total Scope 1 emissions of 5,397,000 kg CO2e, Scope 2 emissions (location-based) of 7,168,000 kg CO2e, and Scope 3 emissions of 23,456,000 kg CO2e. This includes significant Scope 3 contributions from downstream leased assets (8,898,000 kg CO2e), purchased goods and services (5,517,000 kg CO2e), and capital goods (4,467,000 kg CO2e).

Looking back, Veris Residential's Scope 1 emissions have fluctuated, standing at 4,816,000 kg CO2e in 2023 and 4,348,000 kg CO2e in 2022. Scope 2 emissions (location-based) were 10,947,000 kg CO2e in 2023 and 10,304,000 kg CO2e in 2022. Scope 3 emissions were approximately 25,929,000 kg CO2e in 2023 and around 33,627,000 kg CO2e in 2022. For 2021, the company reported Scope 1 emissions of 4,078,000 kg CO2e and Scope 2 (location-based) emissions of 10,337,000 kg CO2e. In 2020, Scope 1 emissions were 4,042,000 kg CO2e and Scope 2 (location-based) emissions were 11,876,000 kg CO2e. In 2019, Scope 1 emissions were 3,916,000 kg CO2e and Scope 2 (location-based) emissions were 13,374,000 kg CO2e. Scope 3 data was not reported prior to 2022.

Veris Residential has established ambitious climate targets. The company aims to reduce its Scope 1 and Scope 2 GHG emissions by 50% by 2030, compared to a 2019 baseline, a target that has been validated by Science Based Targets. Additionally, through the Science Based Targets initiative (SBTi), Veris Residential has committed to reducing its Scope 1 and Scope 2 GHG emissions by 42% by 2030 from a 2020 base year. The company also commits to measuring and reducing its Scope 3 emissions. These targets are consistent with reductions required to limit global warming to 1.5°C.