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 60% 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 19,669,000 kg CO2e from Scope 1 and Scope 2 combined. This included 5,890,000 kg CO2e from Scope 1 and 13,779,000 kg CO2e from Scope 2 (market-based). Additionally, Scope 3 emissions were significant, amounting to approximately 39,900,000 kg CO2e, with the largest contributions from capital goods (14,393,000 kg CO2e) and downstream leased assets (11,730,000 kg CO2e). Veris Residential has set ambitious climate commitments, aiming to reduce its Scope 1 and Scope 2 greenhouse gas emissions by 42% by 2030, using 2020 as the base year. This target has been approved by the Science Based Targets initiative (SBTi) and is aligned with the goal of limiting global warming to 1.5°C. The company also plans to measure and reduce its Scope 3 emissions, reflecting a comprehensive approach to its climate impact. The emissions data for 2023 is currently unavailable, and the company has not disclosed specific figures for that year. However, the commitment to significant reductions in emissions demonstrates Veris Residential's proactive stance on climate action within the real estate sector.
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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.
