In 2024, AvalonBay Communities 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).
AvalonBay Communities has also provided a category-level breakdown for 7 out of 15 Scope 3 emissions categories, offering greater transparency into its value chain emissions.
| Metric (tCO2e) | 2024 | 2023 | 2022 | 2021-2019 |
|---|---|---|---|---|
Total Scope 1 | 21,335a | 14,241b | 15,285c | |
Total Scope 2 | ||||
Market-Based | 18,662a | 21,396b | 26,274c | |
Location-Based | 47,809a | 47,461b | 49,629c | |
Total Scope 3 | 329,098a | 405,716b | 420,758d | |
Total Scope 1 Revenue Intensity (tCO2e/$M) | 7.3222a | 5.145b | 5.8937c |
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In 2024, the total operational greenhouse gas (GHG) emissions of AvalonBay Communities amounted to 69,144 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 2023, the total operational greenhouse gas (GHG) emissions of AvalonBay Communities increased by 12.06%, suggesting that the company faced challenges in reducing its emissions from its core operations.ab
In 2024, the total Scope 1 emissions of AvalonBay Communities were 21,335 metric tons of CO₂ equivalent (tCO₂e).a
Since 2019, AvalonBay Communities's Scope 1 emissions have decreased by 5.46%, reflecting a declining long-term trend in Scope 1 emissions over time.ae
Compared to the previous year (2023), AvalonBay Communities's Scope 1 emissions increased by 49.81%, suggesting that the company faced challenges in reducing emissions from its directly owned or controlled operations.ab
In 2024, AvalonBay Communities reported Scope 2 greenhouse gas (GHG) emissions of 18,662 tCO₂e using the market-based method and 47,809 tCO₂e using the location-based method.a
Since 2019, AvalonBay Communities's Scope 2 greenhouse gas (GHG) emissions (Location-Based) have decreased by 18.32%, reflecting a declining long-term trend in Scope 2 emissions over time.af
Compared to the previous year (2023), AvalonBay Communities's Scope 2 emissions (Location-Based) have remained relatively stable, indicating that AvalonBay Communities's emissions have plateaued with no significant change in its energy consumption footprint.ab
In 2024, AvalonBay Communities reported its Scope 2 emissions using the market-based method and using the location-based method.a
In 2024, AvalonBay Communities reported 329,098 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 2024 disclosure of AvalonBay Communities includes a breakdown across 3 of the 15 Scope 3 categories defined by the GHG Protocol, down from 6 in 2023, indicating a decline in reporting granularity and reduced insight into the company's full value chain emissions.a
In 2024, AvalonBay Communities reported total Scope 3 emissions of 329,098 metric tons of CO₂ equivalent (tCO₂e).a
Approximately 25.08% of these emissions originated from upstream activities such as purchased goods and capital goods, while 74.92% came from downstream activities like product use, distribution, and end-of-life treatment.a
Since 2019, AvalonBay Communities's Scope 3 emissions have decreased by 57.14%, reflecting a declining long-term trend in Scope 3 emissions over time.af
Compared to the previous year (2023), AvalonBay Communities's Scope 3 emissions decreased by 18.88%, highlighting the company's efforts to lower indirect emissions from its value chain.ab
In 2024, AvalonBay Communities reported emissions for 3 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 2024, the largest contributors to AvalonBay Communities's Scope 3 emissions were:a
In 2024, AvalonBay Communities reported Scope 1 greenhouse gas (GHG) emissions of 21,335 tCO₂e and total revenues of USD 2,914 millions. This translates into an emissions intensity of 7.32 tCO₂e per millions USD.a
In 2024, AvalonBay Communities reported a Scope 1 emissions intensity of 7.32 tCO₂e per millions USD. Compared to the peer group median of 4.85, this places the company above its industry benchmark, indicating it is less carbon-efficient than most competitors.a
In 2024, AvalonBay Communities ranked 13 out of 23 companies in its industry peer group, based on Scope 1 emissions intensity (measured in tCO₂e per millions USD).a
AvalonBay Communities is therefore positioned in the mid-range of its industry, neither a clear leader nor a laggard in carbon efficiency.a
In 2024, AvalonBay Communities reported a total carbon footprint of 398,242 metric tons of CO₂ equivalent (tCO₂e) across Scope 1, Scope 2, and Scope 3 emissions. This represents a 14.8% decrease compared to 2023, indicating progress in reducing its overall greenhouse gas output.ab
The largest contributor to AvalonBay Communities's total carbon footprint was Scope 3 emissions, accounting for 82.64% of the company's total carbon footprint, followed by Scope 2 emissions at 12.01%.a