Amsterdam/London, 27 November 2023
Listed real estate sector has made progress over past 12 months but accelerated
action is needed from the industry to meet net zero targets.

  * Targets: Only 15% of listed real estate companies have set net zero targets
    on all three scopes (externally verified), up from 10% last year.
  * Regions: Europe leads the way with 31% of listed real estate companies
    setting net zero targets on all three scopes compared with 14% in Asia and
    only 8% in North America.
  * Measurement: 39% of listed real estate companies report on scopes 1 and 2
    emissions, unchanged from our inaugural report last year, although the
    proportion which measure and report across all 3 scopes (externally
    verified) has risen from 15% to 20%.
  * Governance: 34% of listed real estate companies have appointed board-level
    oversight for greenhouse gas emissions targets. This is up 13 percentage
    points year on year.

Van Lanschot Kempen Investment Management analysed the environmental pathway
frameworks of listed real estate companies globally in order to assess how the
sector is progressing towards the Paris Climate Change goals. The analysis
represents 92% of the total listed real estate market capitalisation
constituting almost $2 trillion worth of real estate worldwide.
The wordwide real estate sector (both listed and privately owned) contribute to
approximately 40% of total greenhouse gas (GHG) emissions, but only 15% 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's Real Assets Team.
While this represents an improvement from 12 months ago, when only 10% had set
such targets, accelerated action is needed from the sector if it hopes to meet
its net zero ambitions. This year we see progress, but its still from a very low
starting base.
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About Van Lanschot Kempen NV
Van Lanschot Kempen is an independent, specialist wealth manager active in
private banking, 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. Through our long-term focus, we create positive
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Kempen is the Netherlands' oldest independent financial services company, with a
history dating back to 1737.
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More information
Contact Van Lanschot Kempen media relations:
Marrika van Beilen
m.vanbeilen@vanlanschotkempen.com
+31 6 57 06 90 18
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