In 2024, Vesta Real Estate 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).
Vesta Real Estate 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 | 144.36a | 137.25b | 68a | |
Total Scope 2 | ||||
Unspecified Calculation Method | 1,206.6a | 1,416.3b | 1,289a | |
Total Scope 3 | 339,549.46a | 361,468.38b | 497,979a | |
Total Scope 1 Revenue Intensity (tCO2e/$M) | 0.5721a | 0.64b | 0.382a |
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In 2024, the total operational greenhouse gas (GHG) emissions of Vesta Real Estate amounted to 1,350.96 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 Vesta Real Estate decreased by 13.04%, showing that the company has made progress in taking action to reduce the climate impact of its operations.ab
In 2024, the total Scope 1 emissions of Vesta Real Estate were 144.36 metric tons of CO₂ equivalent (tCO₂e).a
Since 2020, Vesta Real Estate's Scope 1 emissions have increased by 136.66%, reflecting a rising long-term trend in Scope 1 emissions over time.ab
Compared to the previous year (2023), Vesta Real Estate's Scope 1 emissions increased by 5.18%, suggesting that the company faced challenges in reducing emissions from its directly owned or controlled operations.ab
In 2024, Vesta Real Estate reported Scope 2 greenhouse gas (GHG) emissions of 1,206.6 tCO₂e without specifying the calculation method.a
Since 2020, Vesta Real Estate's Scope 2 greenhouse gas (GHG) emissions (Unspecified Calculation Method) have increased by 18.76%, reflecting a rising long-term trend in Scope 2 emissions over time.ab
Compared to the previous year (2023), Vesta Real Estate's Scope 2 emissions (Unspecified Calculation Method) fell by 14.81% in 2024, showing that the company has made progress in taking action to reduce the climate impact of its energy consumption.ab
In 2024, Vesta Real Estate reported its Scope 2 emissions using an unspecified methodology.a
In 2024, Vesta Real Estate reported 339,549.46 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 Vesta Real Estate includes a breakdown across 7 of the 15 Scope 3 categories defined by the GHG Protocol, up from 5 in 2023, reflecting improved emissions accounting practices and greater transparency across the company's value chaina
In 2024, Vesta Real Estate reported total Scope 3 emissions of 339,549.46 metric tons of CO₂ equivalent (tCO₂e).a
Approximately 20.02% of these emissions originated from upstream activities such as purchased goods and capital goods, while 79.98% came from downstream activities like product use, distribution, and end-of-life treatment.a
Since 2020, Vesta Real Estate's Scope 3 emissions have increased by 421.06%, reflecting a rising long-term trend in Scope 3 emissions over time.ab
Compared to the previous year (2023), Vesta Real Estate's Scope 3 emissions remained relatively stable, indicating that Vesta Real Estate's emissions have plateaued with no significant change in its value chain footprint.ab
In 2024, Vesta Real Estate reported emissions for 7 out of the 15 Scope 3 categories defined by the GHG Protocol.a
This partial disclosure allows for some insight into the company's indirect impacts.
In 2024, the largest contributors to Vesta Real Estate's Scope 3 emissions were:a
In 2024, Vesta Real Estate reported Scope 1 greenhouse gas (GHG) emissions of 144.36 tCO₂e and total revenues of USD 252 millions. This translates into an emissions intensity of 0.57 tCO₂e per millions USD.a
In 2024, Vesta Real Estate reported a Scope 1 emissions intensity of 0.57 tCO₂e per millions USD. Compared to the peer group median of 2.94, this places the company below its industry benchmark, indicating it is more carbon-efficient than most competitors.a
In 2024, Vesta Real Estate ranked 6 out of 24 companies in its industry peer group, based on Scope 1 emissions intensity (measured in tCO₂e per millions USD).a
Vesta Real Estate is therefore positioned in the mid-range of its industry, neither a clear leader nor a laggard in carbon efficiency.a
In 2024, Vesta Real Estate reported a total carbon footprint of 340,900.42 metric tons of CO₂ equivalent (tCO₂e) across Scope 1, Scope 2, and Scope 3 emissions. This represents a 6.09% decrease compared to 2023, indicating progress in reducing its overall greenhouse gas output.ab
The largest contributor to Vesta Real Estate's total carbon footprint was Scope 3 emissions, accounting for 99.6% of the company's total carbon footprint, followed by Scope 2 emissions at 0.35%.a