Klepierre

Retail REITs
LI.PA
€ 18 (2.7)%
Share price
$ 5.1 bn
Market Cap
$ 16 bn
Enterprise Value

Carbon footprint

1.2 Ton
GHG emissions per $ 1 mln investment
0.03x the weighted average for S&P 500
FY2021
How is this calculated?
-16%
YOY change in GHG emissions
Weaker than the +5% weighted average for S&P 500
FY2021 vs. previous year

Primary Climate Goal

-11%
Proj. YOY change in GHG emissions (Scope 1 + 2)
Stronger than the -6.6% weighted average for S&P 500
FY2022
How is this calculated?

Klepierre aims to achieve carbon neutrality for Scope 1 + 2 by 2030


This target has not been verified as science based according to SBTi
Klepierre's actual and proj. GHG emissions (Scope 1 + 2) (Kt of CO2e)

GHG emissions and Carbon intensity

Klepierre's GHG emissions (market-based) (Kt of CO2e)
Klepierre's Carbon intensity (Tons per 1 USDm)

Klepierre's carbon footprint

Klepierre reported Total CO2e Emissions - Market-Based Scope 1 + Scope 2 for the twelve months ending 31 December 2021 at 19 Kt (-3.7 /-16.3% y-o-y). At the same time, carbon intensity increased marginally to 15 t (+0.1/+0.7% y-o-y).

Klepierre's Scope 3 emissions declined to 983 Kt (-202 /-17% y-o-y). This is a higher rate of decline than over the period since 4Q'18 (-13.4% CAGR).

The company is committed to achieving carbon neutrality for Scope 1 + 2 by 2030, which translates into the estimated reduction of -2.1 Kt per annum over the period of FY2022 - FY2030. This target, however, has not been recognised as science-based (and as aligned with Paris Agreement) by the SBTi.

Klepierre aims to achive carbon neutrality across its operations (Scope 1 + 2) in 2030. Companies normally become carbon neutral with the help of the acquisition of carbon offsets rather than absolute reductions in their own greenhouse emissions. Also, carbon neutrality does not include non-CO2 GHG emissions.

Klepierre also has a science-based goal that, however, does not appear to explicitly target a company-wide reduction in emissions in absolute terms. Klépierre commits to reduce scope 1 and 2 GHG emissions 80% per square meter by 2030 from a 2017 base year. Klepierre commits to reduce scope 3 GHG emissions for downstream leased assets 41% per square meter by 2030 from a 2017 base year.

Company environmental metrics

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