VLK Van Lanschot Kempen NV

Van Lanschot Kempen: Real Estate ESG Analysis: Only 15% of listed real estate companies have set targets for scope 1-3 net zero carbon emissions by 2050

Amsterdam/London, 27 November 2023

Listed real estate sector has made progress over past 12 months but accelerated action is needed from the industry to meet net zero targets.

• Targets: Only 15% of listed real estate companies have set net zero targets on all three scopes (externally verified), up from 10% last year.
• Regions: Europe leads the way with 31% of listed real estate companies setting net zero targets on all three scopes compared with 14% in Asia and only 8% in North America.
• Measurement: 39% of listed real estate companies report on scopes 1 and 2 emissions, unchanged from our inaugural report last year, although the proportion which measure and report across all 3 scopes (externally verified) has risen from 15% to 20%.

• Governance: 34% of listed real estate companies have appointed board-level oversight for greenhouse gas emissions targets. This is up 13 percentage points year on year.

Van Lanschot Kempen Investment Management analysed the environmental pathway frameworks of listed real estate companies globally in order to assess how the sector is progressing towards the Paris Climate Change goals. The analysis represents 92% of the total listed real estate market capitalisation constituting almost $2 trillion worth of real estate worldwide. The wordwide real estate sector (both listed and privately owned) contribute to approximately 40% of total greenhouse gas (GHG) emissions, but only 15% of the listed real estate companies worldwide have set comprehensive targets to achieve net zero greenhouse gas emissions on all three scopes (externally verified) by 2050, according to research by Van Lanschot Kempen’s Real Assets Team.

While this represents an improvement from 12 months ago, when only 10% had set such targets, accelerated action is needed from the sector if it hopes to meet its net zero ambitions. This year we see progress, but its still from a very low starting base.DisclaimerThis is a marketing message.

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Van Lanschot Kempen Investment Management (UK) Ltd is authorised and regulated by the Financial Conduct Authority (Firm Reference No. 166063).

About Van Lanschot Kempen Investment ManagementVan Lanschot Kempen Investment Management is a specialist investment manager with a focused approach and a clear investment philosophy. We believe in long-term stewardship for our clients and other stakeholders. Van Lanschot Kempen Investment Management provides sustainable returns, fiduciary management services, manager selection, portfolio construction and monitoring, alongside a number of actively-managed investment strategies. As of 30 June 2023, Van Lanschot Kempen Investment Management had a total of €94.0 billion in client assets.

Van Lanschot Kempen Investment Management, part of Van Lanschot Kempen, is a specialist and independent wealth manager. Van Lanschot Kempen Investment Management NV is licensed as a manager of various UCITS and AIFs and authorised to provide investment services and as such is subject to supervision by the Netherlands Authority for the Financial Markets.

About Van Lanschot Kempen NVVan Lanschot Kempen is an independent, specialist wealth manager active in private banking, investment management and investment banking, with the aim of preserving and creating wealth, in a sustainable way, for both its clients and the society of which it is part. Through our long-term focus, we create positive financial and non-financial value. Listed at Euronext Amsterdam, Van Lanschot Kempen is the Netherlands’ oldest independent financial services company, with a history dating back to 1737. For more information, please visit vanlanschotkempen.com

More informationContact Van Lanschot Kempen media relations: Marrika van Beilenm.vanbeilen@vanlanschotkempen.com+31 6 57 06 90 18

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• Van Lanschot Kempen - Listed Real Estate ESG Analysis 2023 ENG