Metrics and Targets
We will strive for and measure success in a variety of ways, including reductions in our absolute emissions and emissions intensity, expansion in the scope of asset coverage in our emissions inventory, and advancement of our portfolio along a decarbonization pathway.
FTREIT measures the scope 1 and 2 emissions of the portfolio and by virtue of our governance, have been able to obtain detailed and quality data and measure material scope 3 emissions.
In the fiscal year 2024, FTREIT emitted 18,702.03 tons of carbon1, representing a 12.4% increase from the base year (fiscal year 2019). Most of these emissions were from Scope 3, which encompasses the consumption occurring throughout the upstream and downstream processes of asset management related to generating returns for FTREIT, as well as the electricity and water usage of tenants.
1 Remark: Carbon emissions were calculated using the Spend-based method (a calculation method primarily based on the value of purchased goods and services). This calculation relied on actual consumption data for goods and services, as well as energy usage within the fiscal year 2024, combined with estimated energy usage data for some of tenants.
