Klepierre

Klepierre reported Total CO2e Emissions - Market-Based Scope 1 + Scope 2 for the twelve months ending 31 December 2021 at 19 Kt (-3.7 /-16.3% y-o-y). At the same time, carbon intensity increased marginally to 15 t (+0.1/+0.7% y-o-y).

Klepierre's Scope 3 emissions declined to 983 Kt (-202 /-17% y-o-y). This is a higher rate of decline than over the period since 4Q'18 (-13.4% CAGR).

The company is committed to achieving carbon neutrality for Scope 1 + 2 by 2030, which translates into the estimated reduction of -2.1 Kt per annum over the period of FY2022 - FY2030. This target, however, has not been recognised as science-based (and as aligned with Paris Agreement) by the SBTi.

Klepierre aims to achive carbon neutrality across its operations (Scope 1 + 2) in 2030. Companies normally become carbon neutral with the help of the acquisition of carbon offsets rather than absolute reductions in their own greenhouse emissions. Also, carbon neutrality does not include non-CO2 GHG emissions.

Klepierre also has a science-based goal that, however, does not appear to explicitly target a company-wide reduction in emissions in absolute terms. Klépierre commits to reduce scope 1 and 2 GHG emissions 80% per square meter by 2030 from a 2017 base year. Klepierre commits to reduce scope 3 GHG emissions for downstream leased assets 41% per square meter by 2030 from a 2017 base year.