Veris Residential
Veris Residential, Inc., a prominent player in the real estate investment trust (REIT) sector, is headquartered in the United States. Founded in 2013, the company has established a strong presence in major operational regions, focusing primarily on the multifamily residential market. Veris Residential is dedicated to developing and managing high-quality apartment communities, with a unique emphasis on sustainability and innovative living solutions. With a portfolio that spans key urban markets, Veris Residential has achieved notable milestones, including recognition for its commitment to environmental stewardship. The company’s core services revolve around property management and development, setting it apart through its strategic approach to enhancing resident experiences. As a leader in the industry, Veris Residential continues to shape the future of urban living, positioning itself as a trusted name in multifamily housing.
DitchCarbon Score
How does Veris Residential'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
Veris Residential's score of 68 is higher than 81% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Veris Residential's reported carbon emissions
In 2024, Veris Residential reported total greenhouse gas emissions of approximately 33,000,000 kg CO2e, comprising 5,397,000 kg CO2e from Scope 1, 9,160,000 kg CO2e from Scope 2 (market-based), and 23,456,000 kg CO2e from Scope 3 emissions. The Scope 3 emissions included significant contributions from downstream leased assets (8,898,000 kg CO2e) and purchased goods and services (5,517,000 kg CO2e). Veris Residential has set ambitious climate commitments, aiming to reduce its Scope 1 and Scope 2 emissions by 42% by 2030, using 2020 as the baseline year. This target has been validated by the Science Based Targets initiative (SBTi) and is aligned with the goal of limiting global warming to 1.5°C. The company also commits to measuring and reducing its Scope 3 emissions, which are critical given their substantial contribution to overall emissions. In previous years, emissions data showed a trend of increasing total emissions, with 2023 reporting approximately 26,000,000 kg CO2e and 2022 at about 33,000,000 kg CO2e. The company is actively working towards its reduction targets and has demonstrated a commitment to sustainability within the real estate sector.
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| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|
| Scope 1 | 3,916,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 0,000,000 |
| Scope 2 | 13,374,000 | 00,000,000 | 0,000,000 | 0,000,000 | 0,000,000 | 000,000 |
| Scope 3 | - | - | - | 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.
Veris Residential 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.
