Commercial, Solar, Sourcing Renewables  -  May 31, 2024

Federal Realty Investment Trust Increases RE With Solar

Federal Realty Investment Trust, an owner and operator of retail-based properties, announced it increased its use of renewable energy by adding on-site solar generating capacity.

The company achieved 14.3 MW of solar power generating capacity in solar arrays at 27 properties while 5.3 million square feet of LEED projects are completed or in the process of being completed. It also lowered its Scope 1 and 2 GHG emissions by 32%, demonstrating substantial progress toward the Science Based Target initiative-approved goal of a 46% decrease in Scope 1 and 2 GHG emissions by 2030, according to a statement.

Federal Realty Investment Trust also used zero-carbon power sources for 64% of its electricity consumption in 2023 and was recognized for the third time as a Green Lease Leader, Gold.

Details were published in its 2023 Sustainability Report. 

Federal Realty Investment Trust's goals include a science-based target to reduce Scope 1 and 2 emissions by 46% by 2030 compared to a 2019 baseline, a 32% Scope 1 and 2 GHG emissions reduction through 2023 and a goal to achieve net-zero Scope 1 and 2 emissions by 2050.