Amsterdam/London, November 27, 2023
The listed property sector has made progress over the past 12 months, but achieving net zero targets will require accelerated industry action.
- target: Only 15% of listed property companies have set net-zero targets across all three ranges (externally verified), up from 10% last year.
- region: Europe leads the way, with 31% of listed real estate companies setting net-zero targets across all three spectrums, compared to 14% in Asia and just 8% in North America.
- measurement: 39% of listed real estate companies report Scope 1 and 2 emissions, unchanged from last year’s first report, but the proportion measuring and reporting across all three scopes (externally verified) completed) has increased from 15% to 20%.
- governance: 34% of publicly traded real estate companies have appointed board-level oversight of greenhouse gas emissions targets. This is an increase of 13 percentage points from the previous year.
Van Ranchot Kempen Investment Management analyzed the environmental pathway framework of listed real estate companies around the world to assess how the sector is progressing towards the Paris climate goals. This analysis represents 92% of the market capitalization of publicly traded real estate, comprising approximately $2 trillion worth of real estate worldwide.
The global real estate sector (both publicly traded and privately held) contributes approximately 40% of total greenhouse gas (GHG) emissions, but only one of the world’s listed real estate companies has achieved net-zero greenhouse gas emissions. Only 15% have set overarching goals to According to the research of Van Lanschot Kempen’s Real Assets team, by 2050 he will realize three scopes (external validation):
This represents an improvement on 12 months ago, when just 10% had set such a target, but achieving net zero targets will require accelerated action by the sector. Progress has been made this year, but still from a very low starting base.
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Van Lanschot Kempen Investment Management is a professional investment manager with a focused approach and a clear investment philosophy. We believe in long-term responsibility to our clients and other stakeholders. Van Lanschot Kempen Investment Management offers a number of actively managed investment strategies, as well as sustainable returns, fiduciary management services, manager selection, portfolio construction and monitoring. As of June 30, 2023, Van Lanschot Kempen Investment Management had total client assets of EUR 94 billion.
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About Van Ranchot Kempen NV
Van Lanschot Kempen is an independent, professional wealth manager in private banking, investment management and investment banking who maintains and creates wealth sustainably for both his clients and the societies in which he operates. The purpose is Through our long-term focus, we create positive financial and non-financial value. Van Ranschott Kempen, listed on Euronext Amsterdam, is the oldest independent financial services company in the Netherlands, dating back to 1737.
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