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 26 is higher than 85% 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, which are direct emissions from owned or controlled sources, and a significant portion from Scope 2 emissions, amounting to 46,665,000 kg CO2e (market-based). The company also reported Scope 3 emissions, primarily from downstream leased assets, at about 44,506,000 kg CO2e. Vornado has made a notable commitment to reduce its greenhouse gas emissions, targeting a 64% reduction in Scope 1 and 2 emissions per square foot by 2030, using 2019 as the base year. This ambitious target aligns with the Science Based Targets initiative (SBTi) and aims to contribute to limiting global warming to 1.5°C. The commitment includes biogenic emissions and removals from bioenergy feedstocks, reflecting a comprehensive approach to sustainability. Over the years, Vornado has demonstrated a progressive reduction in emissions, decreasing from approximately 256,314,000 kg CO2e in 2019 to the latest figure in 2023. This trend highlights the company's ongoing efforts to enhance its environmental performance and commitment to climate action within the real estate sector.
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Add to project| 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.
