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ISS - Varia US Properties publishes initial analysis on the carbon footprint of its portfolio and sets ambitious CO2 emission reduction targets by 2030

Company: Varia US Properties AG Date: 2024-06-18 Language: English Register to download

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**Media release**

Zug, 18 June 2024

[Download EN](https://app.schedulr.ch/trace/visit/01e400df-074f-4a40-8a59-87642c66ebd2)

[Download FR](https://app.schedulr.ch/trace/visit/16237dbc-1efb-4551-b6f7-462571c3898b)

[Download GE](https://app.schedulr.ch/trace/visit/e4486da1-3560-4a22-9956-e9f7b1650ac9)

**Varia US Properties publishes initial analysis on the carbon footprint of its portfolio and sets ambitious CO2 emission reduction targets by 2030**

Varia US Properties today published its first in-depth report on the carbon footprint of the Company’s real estate portfolio. The “Carbon Footprint Analysis 2023” quantifies the emissions of its assets, establishes a baseline for tracking future progress, informs about resource allocation, sets targets aligned with the Science Based Target Initiative (SBTi), and meets reporting requirements like for the Carbon Disclosure Project (CDP).

The report provides a comprehensive understanding of portfolio emissions. It reveals that the carbon emissions for the year 2023 totaled to 115,394,148 kg of CO2 equivalents (CO2e). [\[1\]](#_ftn1)

-   The contribution of Scope 3 emissions is significant at 94.7%, notably from the electricity use by tenants that is attributing to 35.29% of the total emissions. Scope 2 emissions, primarily from electricity for vacant properties, constitute 4.86%, while Scope 1 emissions are notably lower, featuring gas usage and refrigerants at a combined 0.41%.
-   The analysis is based on the methodology of the Greenhouse Gas Protocol Corporate Accounting and Reporting Standard (GHG Protocol), which sets corporate accounting and reporting principles to aid organizations worldwide in their carbon accounting efforts.

In the course of preparing this report, Varia US developed and adopted an ambitious Science-Based Target (SBT) for its portfolio, aiming for a 63.3% reduction in CO2 emissions by 2030. [\[2\]](#_ftn2)

-   Based on the floor area currently under the operational control of Varia US, emissions need to be curtailed to in total 18,815,483 kg C02 equivalents (corresponding to 23.27 kg CO2e per square meter) by 2030, to adhere to the ambitious goals consistent with limiting global warming.
-   In alignment with this target, a series of potential strategies have been identified that should assist the Company in achieving this aspired reduction of its corporate CO2 emissions. These strategies include, among others, the phasing out on site gas usage from HVACs (to achieve lower Scope 1 emissions), an increase in renewable energy and energy efficiency (to attain lower Scope 2 emissions), and enhanced waste management and circular economy measures (to reach lower Scope 3 emissions).

Patrick Richard, Executive Member of the Board of Directors of Varia US Properties, commented: *“By addressing our carbon footprint, we are creating a strategic advantage. Investors can be confident that our proactive approach to sustainability will continue to enhance our market position and financial stability. In addition, we are positioning ourselves to meet evolving regulatory requirements and appeal to environmentally conscious residents,* *and ultimately enhance asset value.”*

Thomas Stanchak, Managing Director of Sustainability at Stoneweg US, added: *“By rigorously examining our carbon footprint, we demonstrate our leadership in environmental stewardship and our commitment to delivering long-term value for investors. More information and details on how we fully integrate ESG in the corporate strategy of Varia US Properties and the most recent success we achieved will be disclosed in our 2023 ESG report in the beginning of July.”*

The “Carbon Footprint Analysis 2023” report of Varia US Properties was developed in partnership with the sustainability consulting firm Longevity Partners and is available for download on [https://variausproperties.com/esg-vision-strategy/](https://app.schedulr.ch/trace/visit/ec69c039-d14b-40c4-912b-78d2f6d64a4b) .

**Key dates**

ESG Report 2023                   Beginning of July 2024  

Half-year results 2024            28 August 2024

**Contact information**

Juerg Staehelin, IRF Reputation, Phone: +41 43 244 81 51, E-mail: [investors@variausproperties.com](mailto:investors@variausproperties.com)

**About Varia US Properties AG**

Varia US Properties AG is a Swiss based real estate company exclusively investing in U.S. multifamily housing with a main focus on secondary and tertiary markets. Established in 2015, the Company acquires, holds, transitions and repositions properties in the boundaries of metropolitan regions of the U.S. in order to secure rental income and value growth. More information: [www.variausproperties.com](https://app.schedulr.ch/trace/visit/efe4c41d-2fb5-4ab6-9af9-2434762278f2)

**Disclaimer**

This communication expressly or implicitly contains certain forward-looking statements concerning Varia US Properties AG and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of Varia US Properties AG to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Varia US Properties AG is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.

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[\[1\]](#_ftnref1) This amount of CO2 equivalents is corresponding to, for instance, 27,464 gasoline-powered passenger vehicles driven for one year, or the greenhouse gas emissions that 1,908,052 tree seedlings could sequester over 10 years.

[\[2\]](#_ftnref2) Sience-Based Targets refer to greenhouse gas emissions reduction targets that are aligned with the level of decarbonization required to keep global temperature increase below 1.5 degrees Celsius above pre-industrial levels, as specified in the Paris Agreement (2015).