Orix Jreit

ORIX JREIT Inc., operating within the real estate services sector in Japan, has outlined significant climate commitments. For the reporting year ending 2024, ORIX JREIT reported a total of 101,876,000 kg CO2e. In 2023, the company recorded total emissions of approximately 43,676,000 kg CO2e, with Scope 1 and 2 emissions totalling approximately 24,317,000 kg CO2e. Prior to this, in 2022, total emissions were reported at approximately 100,988,000 kg CO2e, with Scope 1 and 2 emissions at approximately 33,282,000 kg CO2e. For 2021, total emissions were approximately 105,472,000 kg CO2e, with Scope 1 and 2 emissions totalling approximately 50,961,000 kg CO2e. In 2020, ORIX JREIT reported Scope 1 emissions of 784,000 kg CO2e, Scope 2 emissions of 17,644,000 kg CO2e, and Scope 3 emissions of 60,508,000 kg CO2e. In 2019, Scope 1 emissions were 657,000 kg CO2e, Scope 2 emissions were 13,504,000 kg CO2e, and Scope 3 emissions were 62,985,000 kg CO2e. In 2018, Scope 1 emissions were approximately 1,348,000 kg CO2e and Scope 2 emissions were approximately 53,594,000 kg CO2e.

ORIX JREIT has set ambitious reduction targets. The company aims to reduce CO2 emission intensity by 35% by 2030, compared to a 2018 baseline, for properties under its operational control. Furthermore, ORIX JREIT is committed to reducing CO2 emissions from Scopes 1 and 2, as well as the portion of Scope 3 under its operational control, by 42% by 2030 against a 2021 baseline. The company also plans to utilise 50% renewable energy in these scopes by 2030. Looking ahead, ORIX JREIT is considering a target of 90% reduction in Scopes 1, 2, and 3 emissions to achieve net zero by 2050. These targets have been validated by the Science Based Targets initiative (SBTi), indicating alignment with a 1.5°C warming scenario.