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 40 is higher than 66% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Vornado Realty Trust's reported carbon emissions
In 2023, Vornado Realty Trust reported total carbon emissions of approximately 121,402,000 kg CO2e globally, with specific emissions breakdowns of 30,231,000 kg CO2e for Scope 1, 46,665,000 kg CO2e for Scope 2 (market-based), and 44,506,000 kg CO2e for Scope 3, specifically from downstream leased assets. In the US, the company’s emissions totalled about 1,154,000 kg CO2e, comprising 694,000 kg CO2e from Scope 1, 445,000 kg CO2e from Scope 2, and 15,000 kg CO2e from Scope 3. Vornado has made significant strides in reducing its carbon footprint, achieving a 66% reduction in Scope 1 and 2 emissions by 2023 compared to a 2019 baseline, amounting to 70,154 metric tons CO2e. The company has committed to further reductions, aiming for a 64% decrease in emissions intensity per square foot by 2030, as part of its Science Based Targets initiative (SBTi) commitment. This target encompasses biogenic emissions and removals from bioenergy feedstocks. Overall, Vornado Realty Trust's climate commitments reflect a proactive approach to sustainability within the real estate sector, aligning with global efforts to mitigate climate change.
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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 | 65,512,000 | 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 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.
