Veris Residential

Veris Residential's reported carbon emissions

Veris Residential, a US-based real estate services firm, reported approximately 33.5 million kg CO2e in total Scope 1, 2, and 3 emissions for its 2024 reporting year. Scope 1 emissions amounted to about 5.4 million kg CO2e, while Scope 2 emissions were approximately 0.9 million kg CO2e (market-based). Scope 3 emissions were the largest component, totalling around 23.5 million kg CO2e, with downstream leased assets representing the most significant category at approximately 8.9 million kg CO2e, followed by purchased goods and services at about 5.5 million kg CO2e. In 2023, Veris Residential's total emissions were approximately 34.7 million kg CO2e, comprising 4.8 million kg CO2e for Scope 1 and around 4.1 million kg CO2e for Scope 2 (market-based). Scope 3 emissions for that year were approximately 25.9 million kg CO2e, with downstream leased assets accounting for about 9.2 million kg CO2e and purchased goods and services at approximately 6.4 million kg CO2e. The company has set an ambitious target to reduce its Scope 1 and 2 emissions by 50% by 2030, compared to a 2019 baseline, a target validated by the Science Based Targets initiative (SBTi). Additionally, Veris Residential has committed to reducing its Scope 1 and 2 greenhouse gas emissions by 42% by 2030 from a 2020 base year, also as part of an SBTi-validated initiative for small and medium-sized enterprises (SMEs). The company also commits to measuring and reducing its Scope 3 emissions.