Dream Unlimited
Dream is an asset manager, owner, and developer of real estate. Founded in 1994 with a vision to revolutionize the way people live and work, Dream joined the Net Zero Asset Managers Initiative in October 2021 and made its Initial Target Disclosure in 2022.
Percentage of assets covered by the Net Zero Asset Managers Commitment Statement
64% of total AUM (USD $8.477 billion)
Information on interim target(s) covering the proportion of assets to be managed in line with net zero
Baseline(s):
Not available
Target(s):
• 2025*: Reduction of carbon intensity of eligible portfolio within our net zero by 2035 target by 20%.
• 2030*: Reduction of carbon intensity of eligible portfolio within our net zero by 2035 target by 50%.
• 2035*: Dream’s target for net zero for wholly owned assets and emissions within boundary. This includes all existing buildings becoming operationally net zero, within the net zero by 2035 emissions boundary, and all new developments being built to be net zero for operational and embodied carbon.
• 2050*: Dream’s target for net zero for all assets within Dream’s operational control (including those not wholly owned and excluding passive investments).
*This represents 61% of the stated AUM that is committed to net zero by 2035. For the incremental 3% of stated AUM that is committed to net zero by 2050, we are working to set interim targets. Please refer to Net Zero by 2035 Action Plan (Page 5, Targets & Milestones) for more detail.
GHG scopes included:
61% of the total AUM of US$13.282 billion is committed to net zero scope 1 and 2 emissions by 2035, an additional 3% of the total AUM of US$13.282 billion is committed to net zero scope 1 and 2 emissions by 2050.
Scope 1 coverage:
•Direct emissions from stationary combustions (boilers, turbines, natural gas)
•Company-owned transportation
•Direct fugitive emissions
Scope 2 coverage:
•Indirect emissions from transmission and distribution
Our Net Zero by 2035 Action Plan focuses on emissions within our operational investment boundary. For emissions that are currently outside our emissions boundary, we intend to influence and support reduction where possible. Every five years, we will review our emissions boundary to ensure we are aligned with industry best practices.
Methodology:
Own/other methodology
Scenario(s):
Our net zero commitment exceeds the timelines of the Science Based Target Initiative (SBTi), one of the leading frameworks for setting robust and credible net zero targets. The SBTi is in line with the Paris Agreement’s 2050 net zero goals and defines the pace of emissions reductions required to stay on track for a 1.5°C future.
Please refer to Net Zero by 2035 Action Plan for more detail.
Additional information
Proportion of AUM committed:
Dream’s net zero commitments cover assets that are wholly owned and within Dream’s operational control. We strive to work
with our partners to increase our net zero AUM over time.
Further information:
For more information, please refer to:
Dream 2020-2021 Sustainability Report
Net Zero by 2035 Action Plan