Vornado Realty Trust Sustainability Profile
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 56 is higher than 73% 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 2024, Vornado Realty Trust reported total carbon emissions of approximately 152.9 million kg CO2e. This figure includes Scope 1 emissions of about 2.3 million kg CO2e, Scope 2 emissions of approximately 29.4 million kg CO2e, and significant Scope 3 emissions from downstream leased assets, amounting to about 101 million kg CO2e. The company has made substantial progress in its climate commitments, achieving a 66% reduction in Scope 1 and Scope 2 emissions intensity by 2023 compared to a 2019 baseline. Vornado has set ambitious targets through the Science Based Targets initiative (SBTi), committing to reduce its Scope 1 and Scope 2 emissions intensity by 64% per square foot by 2030, using 2019 as the base year. This commitment aligns with the necessary reductions to limit global warming to 1.5°C. Overall, Vornado Realty Trust is actively working towards reducing its carbon footprint and enhancing sustainability within its operations, reflecting a strong commitment to climate action in the real estate sector.
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| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|
| Scope 1 | 19,479,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 0,000,000 |
| Scope 2 | 103,732,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 | 00,000,000 |
| Scope 3 | 83,293,000 | 00,000,000 | 00,000,000 | 000,000,000 | 00,000,000 | 000,000,000 |
How Carbon Intensive is Vornado Realty Trust's Industry?
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Vornado Realty Trust's Scope 3 Categories Breakdown
Vornado Realty Trust's Scope 3 emissions, which increased by 7% last year and increased by approximately 21% since 2019, demonstrating supply chain emissions tracking. Most of their carbon footprint comes from suppliers and value chain emissions, with Scope 3 emissions accounting for 76% of total emissions under the GHG Protocol, with "Downstream Leased Assets" representing nearly all of their reported Scope 3 footprint.
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Vornado Realty Trust's Climate Goals (2030 & 2050)
Climate goals typically focus on 2030 interim targets and 2050 net-zero commitments, aligned with global frameworks like the Paris Agreement and Science Based Targets initiative (SBTi) to ensure alignment with global climate goals.
Vornado Realty Trust has established climate goals through participation in recognized frameworks and target-setting initiatives. Companies often set interim 2030 targets and long-term 2050 net-zero goals to demonstrate measurable progress toward decarbonization.
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Common questions about Vornado Realty Trust's sustainability data and climate commitments
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