In 2023, Agree Realty completed a corporate carbon footprint assessment and publicly disclosed its greenhouse gas (GHG) emissions according to the GHG Protocol, covering Scope 1 (direct emissions from owned or controlled sources), Scope 2 (indirect emissions from purchased energy) and Scope 3 (indirect emissions across the value chain).
Agree Realty has also provided a category-level breakdown for 1 out of 15 Scope 3 emissions categories, offering greater transparency into its value chain emissions.
| Metric (tCO2e) | 2023 | 2022 | 2021 | 2020-2019 |
|---|---|---|---|---|
Total Scope 1 | 271a | 326a | 317a | |
Total Scope 2 | ||||
Location-Based | 1,271a | N/A | N/A | |
Total Scope 3 | 394,000a | 335,000a | 260,000a | |
Total Scope 1 Revenue Intensity (tCO2e/$M) | 0.5042a | 0.7585a | 0.9342a |
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In 2023, the total operational greenhouse gas (GHG) emissions of Agree Realty amounted to 1,542 metric tons of CO2 equivalent. This figure includes both direct emissions from owned or controlled sources (Scope 1) and indirect emissions from purchased energy (Scope 2).a
Compared to 2022, the total operational greenhouse gas (GHG) emissions of Agree Realty increased by 373.01%, suggesting that the company faced challenges in reducing its emissions from its core operations.a
In 2023, the total Scope 1 emissions of Agree Realty were 271 metric tons of CO₂ equivalent (tCO₂e).a
Since 2021, Agree Realty's Scope 1 emissions have decreased by 14.51%, reflecting a declining long-term trend in Scope 1 emissions over time.a
Compared to the previous year (2022), Agree Realty's Scope 1 emissions decreased by 16.87%, highlighting the company's efforts to lower direct emissions from assets it owns or controls.a
In 2023, Agree Realty reported Scope 2 greenhouse gas (GHG) emissions of 1,271 tCO₂e using the location-based method.a
In 2023, Agree Realty reported its Scope 2 emissions using the location-based method.a
In 2023, Agree Realty reported 394,000 metric tons of CO₂ equivalent (tCO₂e) of Scope 3 greenhouse gas (GHG) emissions, representing indirect emissions across its upstream and downstream value chain.a
The 2023 disclosure of Agree Realty includes a breakdown across 1 of the 15 Scope 3 categories defined by the GHG Protocol, matching the level of disclosure in 2022, demonstrating consistent Scope 3 emissions reporting coverage year over year.a
In 2023, Agree Realty reported total Scope 3 emissions of 394,000 metric tons of CO₂ equivalent (tCO₂e).a
Approximately 0% of these emissions originated from upstream activities such as purchased goods and capital goods, while 100% came from downstream activities like product use, distribution, and end-of-life treatment.a
Since 2021, Agree Realty's Scope 3 emissions have increased by 51.54%, reflecting a rising long-term trend in Scope 3 emissions over time.a
Compared to the previous year (2022), Agree Realty's Scope 3 emissions increased by 17.61%, suggesting that the company faced challenges in reducing emissions across its value chain.a
In 2023, Agree Realty reported emissions for 1 out of the 15 Scope 3 categories defined by the GHG Protocol.a
The limited disclosure restricts visibility into specific emission sources across the company's value chain.
In 2023, the largest contributors to Agree Realty's Scope 3 emissions were:a
In 2023, Agree Realty reported Scope 1 greenhouse gas (GHG) emissions of 271 tCO₂e and total revenues of USD 537 millions. This translates into an emissions intensity of 0.5 tCO₂e per millions USD.a
In 2023, Agree Realty reported a Scope 1 emissions intensity of 0.5 tCO₂e per millions USD. Compared to the peer group median of 3.11, this places the company below its industry benchmark, indicating it is more carbon-efficient than most competitors.a
In 2023, Agree Realty ranked 4 out of 23 companies in its industry peer group, based on Scope 1 emissions intensity (measured in tCO₂e per millions USD).a
This places Agree Realty among the top performers, with one of the lowest emissions intensities relative to peers.a
In 2023, Agree Realty reported a total carbon footprint of 395,542 metric tons of CO₂ equivalent (tCO₂e) across Scope 1, Scope 2, and Scope 3 emissions. This represents a 17.96% increase compared to 2022, suggesting a rise in emissions across its operations or value chain.a
The largest contributor to Agree Realty's total carbon footprint was Scope 3 emissions, accounting for 99.61% of the company's total carbon footprint, followed by Scope 2 emissions at 0.32%.a