GHG Emissions  -  March 22, 2022

Ventas Sets 2040 Goals

Ventas, Inc. announced its commitment to achieving net zero operational carbon emissions by 2040.

This new pledge exceeds the company’s existing Science-Based Target initiative (SBTi) verified carbon reduction goal, adopted in 2021, to decrease absolute carbon emissions by 30% by 2030.

The real estate investment trust company’s strategy to achieve operational carbon neutrality includes three primary components, which will be implemented in the Office and Senior Housing Operating (“SHOP”) portfolios whose building emissions comprise the company’s operational carbon footprint:

• Energy Efficiency: Since 2018, investments have reduced energy intensity per square foot by more than 5% annually on a same-store basis from 2018 to 2020. Ventas expects to continue to invest in energy efficiency at a similar cadence going forward and commits to develop net-zero carbon-aligned energy efficiency goals by property type by 2025. 
• Renewable Energy: Ventas commits to achieve 60% renewable energy procurement by 2030 and 100% by 2035 through options for renewable energy, including on-site generation, PPAs and other green power purchase products.
• Electrification: Ventas commits to capital investments in deep decarbonization and electrification opportunities through the deployment of high-efficiency and/or electric HVAC systems, electric stoves and water heaters, and other technologies.

"Ventas recognizes the imperative need to take significant actions toward decarbonization, and is dedicated to a well-conceived and rigorously executed approach to achieving operational net-zero carbon emissions,” said Debra A. Cafaro, Ventas CEO in a statement. “Our net-zero goal continues our leadership in sustainability and builds on our track record of achievements and commitments to date, starting with our ongoing investments in energy efficiency and our SBTi-validated emissions reduction target. We believe that today’s commitment promotes the interests of our stakeholders and aligns with our values of health and safety for residents, tenants, care providers and patients.”