- Real estate sector challenges in 2023 due to increased borrowing costs and higher interest rates impacting asset values.
- Increase in interest rates impacted leasing activity.
- Demand for logistics space moderated globally to historical levels.
Granite Real Estate Investment Trust and subsidiaries and Granite REIT Inc.
Greenhouse gas emissions & sustainability report data
Figures are as stated in the company's own report and may use different boundaries, units or methods (for example market-based vs location-based Scope 2), so compare with care.
📈 Emissions by Report Period
| Report period | Headline emissions figure reported |
|---|---|
| 2022 | 64.8K MTCO2e |
| 2021 | 93.7K tCO2e/year |
Each row is the headline figure extracted from a different report; scope coverage and methodology can change between years.
✅ Reported Environmental Achievements
- Ranked 2nd out of 10 in the United States of America | Industrial GRESB peer group; score increased by 6 points compared to 2022.
- Achieved 1st out of 9 in the North American Industrial | Listed | Tenant Controlled GRESB peer group for Standing Investments with a score of 79.
- Total green bond offerings increased to $1.4 billion.
- $1.161 billion of green bond net proceeds allocated towards Eligible Green Projects.
- Increased peak generation capacity of onsite solar PV systems by 14.3 MW, bringing the total to 22.8 MW.
- Obtained 25 new green building certifications (9 Two Green Globes and 16 IREM CSP certifications).
- Exceeded the target of 30% third-party green building certifications by floor area by 2030, achieving 44%.
🎯 Climate & Sustainability Targets
🔜 Short-term
- Reduce landlord-controlled energy, operational emissions (scope 1 and 2), and water by 25% on an intensity basis, per square foot, by 2030.
📅 Medium-term
- Increase energy, emissions, water and waste data coverage across Granite’s portfolio to 50% of its income-producing portfolio by 2030.
- Support the production of new renewable energy through the installation of on-site solar PV systems with the capacity to generate 24 MW of electricity by 2025.
- Achieve 30% third-party green building certifications by floor area by 2030.
🌱 ESG Focus Areas
EnvironmentalSocialGovernanceResilience