Vornado Realty Trust
Vornado Realty Trust, commonly referred to as Vornado, is a prominent real estate investment trust (REIT) headquartered in the United States. Established in 1982, Vornado has built a strong presence in major markets, particularly in New York City and Washington, D.C. The company focuses on the acquisition, development, and management of high-quality office and retail properties, distinguishing itself through its innovative approach to urban real estate. With a diverse portfolio that includes iconic buildings and mixed-use developments, Vornado has achieved significant milestones, including strategic partnerships and successful redevelopment projects. Renowned for its commitment to sustainability and design excellence, Vornado Realty Trust continues to solidify its position as a leader in the real estate industry, consistently delivering value to its investors and tenants alike.
DitchCarbon Score
How does Vornado Realty Trust'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
Vornado Realty Trust's score of 46 is higher than 96% of the industry. This can give you a sense of how well the company is doing compared to its peers.
Vornado Realty Trust's reported carbon emissions
In 2023, Vornado Realty Trust reported total carbon emissions of approximately 121,402,000 kg CO2e. This figure includes 30,231,000 kg CO2e from Scope 1 emissions and 46,665,000 kg CO2e from Scope 2 emissions, with the remaining emissions attributed to Scope 3, specifically downstream leased assets, amounting to 44,506,000 kg CO2e. Over the past few years, Vornado has made significant strides in reducing its carbon footprint. From 2019 to 2023, total emissions decreased from 256,314,000 kg CO2e to 121,402,000 kg CO2e, reflecting a commitment to sustainability. The company has set ambitious targets to further reduce its greenhouse gas emissions, aiming for a 64% reduction in Scope 1 and 2 emissions per square foot by 2030, using 2019 as the baseline year. This target aligns with the Science Based Targets initiative (SBTi) and is designed to support global efforts to limit warming to 1.5°C. Vornado Realty Trust's ongoing commitment to reducing its carbon emissions demonstrates its proactive approach to climate change and sustainability within the real estate sector.
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| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Scope 1 | 28,577,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 2 | 177,977,000 | 000,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 3 | 49,760,000 | 00,000,000 | 00,000,000 | 00,000,000 | 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.
Vornado Realty Trust 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.
