- Increased operating costs and supply issues due to energy resource scarcity.
- Potential behavioral changes and shifts in demand due to climate change.
- Financial impacts from health risks (air/water pollution), security risks, and safety risks.
- Difficulties recruiting and retaining employees in a competitive job market.
Veris Residential, Inc
Greenhouse gas emissions & sustainability report data
In its 2023 reporting, Veris Residential, Inc disclosed greenhouse gas emissions of 8.9K mtCO2e (Scope 1 & 2 Market Based). By scope: Scope 1: 4.9K mtCO2e; Scope 2: 4.1K mtCO2e; Scope 3: 25.9K mtCO2e. 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.
GHG Emissions
8.9K mtCO2e (Scope 1 & 2 Market Based)
2023
Renewable Energy
100% (operationally controlled electricity in wholly owned multifamily portfolio)
of total energy
Water Usage
688.6K m3
2023
Waste
6.4K tons
2023
Energy Use
140.5M kBtu
2023
📊 Emissions by Scope (2023)
| Scope | What it covers | Reported value |
|---|---|---|
| Scope 1 | Direct emissions from sources the company owns or controls (fuel combustion, company vehicles, process and fugitive emissions). | 4.9K mtCO2e |
| Scope 2 | Indirect emissions from purchased electricity, steam, heat and cooling. | 4.1K mtCO2e |
| Scope 3 | Other indirect emissions across the value chain (purchased goods, business travel, use of sold products, etc.). | 25.9K mtCO2e |
New to scopes? Read Scope 1, 2 and 3 emissions explained and market-based vs location-based Scope 2.
📈 Emissions by Report Period
| Report period | Headline emissions figure reported |
|---|---|
| 2023 | 8.9K mtCO2e (Scope 1 & 2 Market Based) |
| 2022 | 19.7K mtCO2e (Scope 1 & 2 Market Based) |
| 2021 | 30.1K mtCO2e/year |
Each row is the headline figure extracted from a different report; scope coverage and methodology can change between years.
✅ Reported Environmental Achievements
- Reduced market-based Scope 1 & 2 GHG emissions by 66% compared to 2019.
- Reduced energy consumption by 28% below 2019 levels in 2023.
- Procured 100% of operationally controlled electricity within the wholly owned multifamily portfolio from renewable sources since 2021.
- 78% of managed multifamily portfolio was Green Certified in 2023 (up from 58% in 2022).
🎯 Climate & Sustainability Targets
🔜 Short-term
- Reduce water consumption by 20% by 2030 (compared to 2020).
📅 Medium-term
- Reduce GHG (Scope 1 & 2) emissions by 50% by 2030 (compared to 2019).
- Reduce energy consumption by 20% by 2030 (compared to 2019).
- Obtain Green Building Certifications across 90% of managed multifamily properties by 2028.
- Install EV charging points at 100% of properties by 2030.
🌱 ESG Focus Areas
Energy & Greenhouse Gas (GHG) EmissionsSustainable CitiesHealth & Well-BeingDiversity, Equity & Inclusion (DEI)Stakeholder Engagement