OP Real Estate Asset Management Ltd
OP Real Estate Asset Management is part of OP Financial Group based in Finland. They joined the Net Zero Asset Managers Initiative in October 2022 and made their Initial Target Disclosure in November 2023.
Percentage of assets covered by the Net Zero Asset Managers Commitment Statement
82% of total AUM (USD $3.9 billion)
Information on interim target(s) covering the proportion of assets to be managed in line with net zero
Baseline(s):
Portfolio decarbonisation reference baseline
12,535 tCO2e (Scope 1 and 2 energy emissions)
Target(s):
Portfolio decarbonisation reference target
-100% (Scope 1 and 2 energy emissions)
GHG scopes included:
Our target currently consists of scope 1 and 2 energy emissions only. We have started to analyse information on Scope 1 emissions caused by refrigerants as well as Scope 3 emissions and will continue our work on understanding how to credibly include and calculate them for our targets.
Methodology:
Net Zero Investment Framework
Scenario(s):
CRREM 1.5°C-pathway
Additional information
Proportion of AUM committed:
We are targeting net zero operational emissions in energy use by 2030 regarding our direct real estate assets that are lessor-controlled. Our Scope 1 calculations have not included refrigerants, but we are developing it to include these as well.
Policy on coal and other fossil fuel investments:
As we are a real estate investor, we do not invest directly in coal or other fossil fuels. We have no investment strategy that invests in properties related to fossil fuels for recovery, storage, transport, or manufacturing.
Further information:
We have publicly disclosed our sustainable investment strategy in our Principles for Responsible Real Estate Investment. Every year we report about the development of our sustainability work. The principles and the report for 2021 can both be found on our website at Responsible investing.