Veris Residential
Veris Residential, Inc., a prominent player in the real estate investment trust (REIT) sector, is headquartered in the United States. Founded in 2013, the company has established a strong presence in major operational regions, focusing primarily on the multifamily residential market. Veris Residential is dedicated to developing and managing high-quality apartment communities, with a unique emphasis on sustainability and innovative living solutions. With a portfolio that spans key urban markets, Veris Residential has achieved notable milestones, including recognition for its commitment to environmental stewardship. The company’s core services revolve around property management and development, setting it apart through its strategic approach to enhancing resident experiences. As a leader in the industry, Veris Residential continues to shape the future of urban living, positioning itself as a trusted name in multifamily housing.
DitchCarbon Score
How does Veris Residential's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Real Estate Services industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Veris Residential's score of 32 is higher than 57% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Veris Residential's reported carbon emissions
In 2022, Veris Residential reported total greenhouse gas emissions of approximately 39,900,000 kg CO2e, comprising 5,890,000 kg CO2e from Scope 1, 19,851,000 kg CO2e from Scope 2 (location-based), and 39,900,000 kg CO2e from Scope 3 emissions. The company has set ambitious targets to reduce its Scope 1 and Scope 2 emissions by 42% by 2030, using 2020 as the base year. This commitment aligns with the Science Based Targets initiative (SBTi) and aims to ensure that reductions are consistent with limiting global warming to 1.5°C. Veris Residential's emissions data shows a significant focus on upstream and downstream categories, with notable contributions from capital goods (14,393,000 kg CO2e) and downstream leased assets (11,730,000 kg CO2e) within Scope 3 emissions. The company is actively working to measure and reduce its Scope 3 emissions as part of its broader climate strategy. Overall, Veris Residential is committed to enhancing its sustainability practices and reducing its carbon footprint in the real estate sector, with a clear focus on achieving its reduction targets by 2030.
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| 2019 | 2020 | 2021 | 2022 | |
|---|---|---|---|---|
| Scope 1 | 8,009,000 | 0,000,000 | 0,000,000 | 0,000,000 |
| Scope 2 | 63,358,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 3 | - | - | - | 00,000,000 |
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.
Veris Residential is participating in some of the initiatives that we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.
