Amsterdam/’s-Hertogenbosch, the Netherlands, 15 December 2022
Van Lanschot Kempen stimulates the real estate sector, the largest contributor to global carbon emission, to accelerate its net zero ambitions
Real estate companies are behind the curve on measuring and reporting greenhouse gas (‘GHG’) emissions; only 10% of listed real estate companies have net zero targets on all three scopes (externally verified), despite the sector being the largest emitter of GHG.
80% of real estate companies have no board-level oversight for GHG emissions targets, while only 7% of these companies have GHG targets reflected bonuses for senior management.
Van Lanschot Kempen stresses the need for greater transparency and progress on sustainability, and through its position as a large real assets investment manager sees room for improvement in the transition to net zero.
Real assets contribute to at least 60% of total greenhouse gas emissions1. Only 10% of the listed real estate companies worldwide have set comprehensive targets to achieve net zero greenhouse gas emissions on all three scopes (externally verified) by 2050, according to research by Van Lanschot Kempen.
60% of listed real estate companies are still researching their commitment to achieving net zero emissions by 2050, according to our research. They have not formalised their research into a commitment as of yet, whilst urgent action is needed, Amongst those companies which have taken action, 13% of those analysed have publicly-stated alignment to the Paris Agreement but give no detail on how this will be achieved. 17% have taken an incomplete approach whereby they have publicly stated an aim to achieve carbon neutrality but not for all material greenhouse gas emissions. Only 10% of companies analysed have committed to becoming net zero by 2050 across all material greenhouse gas emissions and have their targets externally verified. For Van Lanschot Kempen this is the complete approach every company should strive for.
Van Lanschot Kempen’s Real Assets Team analysed listed real estate companies globally to assess how the sector is progressing towards the Paris Climate Change goals2. The analysis represents 92% of the total listed real estate market capitalisation constituting almost $2 trillion worth of real estate worldwide. The analysis measured the environmental pathway and involved in-depth analysis of the annual and sustainability reports 2021 of the companies focusing on the steps they need to take to achieve net zero emissions by 20503.
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About Van Lanschot Kempen
Van Lanschot Kempen, a wealth manager active in Private Banking, Professional Solutions, Investment Management and Investment Banking, with the aim of preserving and creating wealth, in a sustainable way, for both its clients and the society of which it is part. As a sustainable wealth manager with a long-term focus, Van Lanschot Kempen proactively seeks to prevent negative impact for all stakeholders and to create positive long-term financial and non-financial value. Listed at Euronext Amsterdam, Van Lanschot Kempen is the Netherlands’ oldest independent financial services company, with a history dating back to 1737. To fully leverage the potential of the Van Lanschot Kempen organisation for its clients, it provides solutions that build on the knowledge and expertise across its entire group and on its open architecture platform. Van Lanschot Kempen is convinced that it is able to meet the needs of its clients in a sustainable way by offering them access to the full range of its products and services across all its businesses.
For more information, please visit vanlanschotkempen.com
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