Iron Mountain

Specialty REITs

IRM

$ 52 0.83

Share price

$ 15 bn

Market Cap

$ 28 bn

Enterprise Value

Carbon footprint

GHG emissions per $ 1 mln investment

0.24x the weighted average for S&P 500

FY2020

Primary Climate Goal

Proj. YOY change in GHG emissions (Scope 1 + 2)

FY2021

Iron Mountain aims to reduce Scope 1 + 2 by 25% by 2025 from a base year 2016

This target is most likely outdated and the company appears to have already achieved it

2°C

GHG emissions and Carbon intensity

Iron Mountain reported Total CO2e Emissions - Market-Based Scope 1 + Scope 2 for the twelve months ending 31 December 2020 at 187 Kt (-34 /-15.3% y-o-y).

Iron Mountain's Scope 3 emissions was down at 24 Kt (-15 /-38.9% y-o-y). This is broadly in line with the declining trend (CAGR -35.3%) since 4Q'16.

The company is committed to reducing Scope 1 + 2 by 25% by 2025 from a base year 2016, which it appears to have already achieved as of 2020. This science-based target is aligned with Paris Agreement to limit global warming to 2°C above pre-industrial levels.

Date	Total CO2e emissions (market-based Scope 1 & 2) (Kt)	Scope 1	Scope 2	Scope 3	Revenue (USDm)	Carbon intensity (tons of CO2e) / (USDm)
2020Q4	187	125	62	24
2019Q4	221	144	77	39
2018Q4	233	150	83	26
2017Q4	299	172	127	138
2016Q4	332	159	173	208