Riocan
Riocan Real Estate Investment Trust, commonly known as Riocan, is a leading Canadian REIT headquartered in Toronto, Ontario. Established in 1993, the company has grown to become a prominent player in the retail and mixed-use property sectors, primarily operating across major urban regions in Canada. Riocan focuses on the acquisition, development, and management of retail and commercial properties, offering a diverse portfolio that includes shopping centres and mixed-use developments. Its unique approach combines strategic location selection with a commitment to sustainability, setting it apart in the competitive real estate market. With a strong market position, Riocan has achieved notable milestones, including a robust distribution track record and a reputation for high-quality assets. The company continues to adapt to evolving market trends, ensuring its relevance in the dynamic landscape of Canadian real estate.
DitchCarbon Score
How does Riocan'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
Riocan's score of 43 is higher than 72% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Riocan's reported carbon emissions
In 2021, Riocan Management Inc. reported total carbon emissions of approximately 10,991,000 kg CO2e, with Scope 1 emissions at about 7,761,000 kg CO2e and Scope 2 emissions at around 3,230,000 kg CO2e. This marked a reduction from 2020, where total emissions were approximately 12,753,000 kg CO2e, with Scope 1 at about 10,560,000 kg CO2e and Scope 2 at around 2,193,000 kg CO2e. Riocan has set ambitious climate commitments, aiming to achieve net-zero greenhouse gas emissions across its value chain by 2050. The company has established near-term targets to reduce absolute Scope 1 and 2 emissions by 46.2% by 2030, using 2019 as the baseline year. Additionally, it aims to cut Scope 3 emissions from downstream-leased assets by 28% and reduce Scope 3 emissions from capital goods by 55% on an intensity basis (tCO2e/square foot) by the same year. Long-term, Riocan is committed to a 90% reduction in absolute Scope 1, 2, and 3 emissions by 2050, again using 2019 as the reference point. These targets align with industry standards for climate action and demonstrate Riocan's commitment to sustainability in the real estate sector.
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| 2020 | 2021 | |
|---|---|---|
| Scope 1 | 10,560,000 | 0,000,000 |
| Scope 2 | 2,193,000 | 0,000,000 |
| Scope 3 | - | - |
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.
Riocan 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.
