Veris Residential

Veris Residential, a US-based real estate services company, has established clear targets for reducing its greenhouse gas emissions. For the reporting year 2024, the company reported total Scope 1, 2, and 3 emissions of approximately 30.4 million kg CO2e. This figure includes Scope 1 emissions of about 5.4 million kg CO2e, Scope 2 emissions (market-based) of approximately 0.9 million kg CO2e, and Scope 3 emissions totalling around 23.5 million kg CO2e.

In 2023, Veris Residential reported total emissions of approximately 35.7 million kg CO2e, with Scope 1 emissions at around 4.8 million kg CO2e, Scope 2 (market-based) at approximately 4.1 million kg CO2e, and Scope 3 emissions totalling about 25.9 million kg CO2e.

The company has set a near-term target to reduce Scope 1 and 2 emissions by 50% by 2030, compared to a 2019 baseline. This target has been validated by the Science Based Targets initiative (SBTi). Additionally, an SBTi target indicates a commitment to reduce Scope 1 and 2 GHG emissions by 42% by 2030 from a 2020 base year, with a commitment to measure and reduce its Scope 3 emissions. The SBTi targets confirm alignment with a 1.5°C warming scenario for company operations.

For the reporting year 2022, Veris Residential's total emissions were approximately 42.3 million kg CO2e, comprising Scope 1 emissions of about 4.3 million kg CO2e, Scope 2 (market-based) of approximately 4.3 million kg CO2e, and Scope 3 emissions totalling around 33.6 million kg CO2e. In 2021, Scope 1 emissions were approximately 4.1 million kg CO2e and Scope 2 (market-based) were about 5.2 million kg CO2e. Scope 3 data was not disclosed for this year. Earlier reporting years show Scope 1 and 2 emissions, with Scope 3 data not yet fully disclosed. For instance, in 2020, Scope 1 emissions were around 4 million kg CO2e and Scope 2 (market-based) approximately 11.9 million kg CO2e. In 2019, Scope 1 emissions were about 3.9 million kg CO2e and Scope 2 (market-based) approximately 13.4 million kg CO2e.