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 53 is lower than 100% of the industry. This can give you a sense of how well the company is doing compared to its peers.
Veris Residential's reported carbon emissions
In 2023, Veris Residential reported total carbon emissions of approximately 9,240,000 kg CO2e, comprising 4,808,000 kg CO2e from Scope 1 and 6,896,000 kg CO2e from Scope 2 emissions. The company has made significant strides in reducing its carbon footprint, achieving a total reduction from 2020 levels, where emissions were about 60,373,000 kg CO2e. Veris Residential has set ambitious targets to further reduce its greenhouse gas emissions. The company is committed to a 42% reduction in Scope 1 and Scope 2 emissions by 2030, using 2020 as the baseline year. This commitment aligns with the Science Based Targets initiative (SBTi) and is designed to support global efforts to limit temperature rise to 1.5°C. In 2022, the total emissions were approximately 19,669,000 kg CO2e, indicating a substantial decrease from previous years. The company also acknowledges the importance of measuring and reducing Scope 3 emissions, which accounted for a significant portion of their overall emissions in prior years. Veris Residential's ongoing efforts reflect a proactive approach to sustainability within the real estate sector, demonstrating a commitment to environmental responsibility and climate action.
Unlock detailed emissions data
Access structured emissions data, company-specific emission factors, and source documents
Add to project| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Scope 1 | 8,009,000 | 0,000,000 | 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 | 00,000,000 | 0,000,000 |
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 committed to some reduction initiatives 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.
