Veris Residential

Veris Residential, a US-based real estate services company, reported total market-based carbon emissions of approximately 29.8 million kg CO2e in 2024. This includes about 5.4 million kg CO2e from Scope 1 emissions, approximately 916,000 kg CO2e from Scope 2 emissions (market-based), and around 23.5 million kg CO2e from Scope 3 emissions. For 2023, their total market-based emissions were approximately 34.8 million kg CO2e, comprising about 4.8 million kg CO2e for Scope 1, approximately 4.1 million kg CO2e for Scope 2 (market-based), and roughly 25.9 million kg CO2e for Scope 3. In 2022, the company's total market-based emissions stood at approximately 42.3 million kg CO2e, with Scope 1 at about 4.3 million kg CO2e, Scope 2 (market-based) at around 4.3 million kg CO2e, and Scope 3 at roughly 33.6 million kg CO2e.

Veris Residential has set ambitious climate commitments. The company has a validated Science Based Target (SBTi) to reduce Scope 1 and Scope 2 GHG emissions by 42% by 2030, using a 2020 base year. This target is consistent with reductions required to keep warming to 1.5°C and was approved using a streamlined validation route for small and medium-sized enterprises (SMEs). Additionally, Veris Residential aims to measure and reduce its Scope 3 emissions. A separate internal target aims to reduce Scope 1 and Scope 2 emissions by 50% by 2030 compared to 2019.