Carbon footprint

The carbon roadmap outlines the actions needed to reduce emissions to the desired level. Our carbon roadmap is still somewhat rough, as we are still investigating the most effective ways to reduce our carbon dioxide emissions. Nevertheless, we are committed to SBTi’s emission reduction targets. While SBTi verifies the targets, it does not certify them for foundations. Therefore, our goal cannot be verified by SBTi.

We are not currently striving for carbon neutrality, as this would practically require emission compensation. Emission compensation is currently a significant cost for a non-profit foundation and would reflect on tenant rents. Furthermore, there are uncertainties about whether emissions are truly compensated as intended, and planning and monitoring compensation would also require personnel resources.

Scope 1 includes direct emissions from the company’s own operations. These include, for example, the fuel used by company cars or purchased computers and phones. These emissions are often the easiest to address because they are directly linked to the company’s operations.

Scope 1 emissions account for 0.2% (43 tCO2e) of our total carbon footprint. In 2022, these emissions were 31 tCO2e, meaning that emissions in this category have increased compared to the previous year.

Main sources of Scope 1 emissions

Currently, there is no justification for significant actions to reduce emissions in this scope, as over 99% of our emissions come from elsewhere. It is more worthwhile to make small changes where possible and where they do not cause significant costs.

Scope 2 includes purchased energy, meaning the electricity and heat purchased by Hoas.

Scope 2 accounts for 34% (7,738 tCO2e) of our total emissions. These emissions are calculated based on the market method. In 2022, purchased energy emissions were 9,345 tCO2e, meaning these emissions have decreased.

Since October 2023, all purchased energy has been procured from renewable energy sources and is emission-free. In 2024, Scope 2 emissions will be zero.

Scope 3 includes emissions from the end-use of sold products and from the procurement of goods and services, meaning all indirect emissions. These include waste management, water management, and material procurement. Additionally, Scope 3 includes Hoas’s fixed assets, meaning the emissions caused by construction. Scope 3 is divided into 15 different categories.

In 2023, Scope 3 emissions accounted for 66% (15,152 tCO2e) of our total emissions. In 2022, Scope 3 emissions were 22,431 tCO2e, meaning that emissions have decreased. However, this is largely explained by the fact that we undertook less construction in 2023.

We address construction-related emissions with our low-carbon construction guidelines, which help us reduce the carbon footprint of new developments.

Reducing emissions from energy production is challenging, at least with the tools currently available. The only way we can somewhat affect these emissions is by improving energy efficiency and thus reducing energy consumption.

One significant source of emissions is the purchased products and services, such as the operations of maintenance companies working on our properties. The goal is for all major partners to provide more detailed emission calculations in the future, based on which we can develop emission reduction pathways for each service contract we hold. Caverion has already provided more detailed calculations of their emissions, and based on these calculations, we have begun working with Caverion to develop more sustainable practices.