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. This figure includes Scope 1 emissions of about 30,231,000 kg CO2e, Scope 2 emissions of approximately 159,056,000 kg CO2e, and Scope 3 emissions from downstream leased assets amounting to about 44,506,000 kg CO2e. Comparatively, in 2022, the total emissions were about 136,654,000 kg CO2e, with Scope 1 at approximately 31,311,000 kg CO2e and Scope 2 at around 166,129,000 kg CO2e. This indicates a significant reduction in total emissions from 2022 to 2023. Vornado has set ambitious climate commitments, having made a Science Based Targets initiative (SBTi) commitment in 2021 to reduce its Scope 1 and 2 emissions intensity by 64% per square foot by 2030, using 2019 as the baseline year. As of 2023, the company has achieved a 66% reduction in its Scope 1 and 2 emissions, totalling 70,154 metric tons CO2e, compared to the 2019 baseline. Vornado Realty Trust's climate strategy aligns with industry standards, focusing on substantial reductions in greenhouse gas emissions to contribute to global climate goals.
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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 | 000,000,000 | 000,000,000 | 000,000,000 |
| Scope 3 | - | - | - | 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.
