Klépierre, the European leader in shopping malls, announces that its low-carbon commitments have been approved as the most ambitious 1.5°C-aligned targets by the Science-Based Target initiative (SBTi), in accordance with the Paris agreement on climate change in 2015. This approval reaffirms the Group’s European leadership status in the fight against climate change among its REIT peers.

In order to approve Klépierre’s low carbon approach, the SBTi specifically focused on the Group’s above mentioned targets, corresponding to a decrease in direct greenhouse gas emissions by 80% per sq m of its shopping centers by 2030 from a 2017 base year (“Scopes” 1 and 2). The SBTi also approved Klépierre’s pledge to reduce its indirect emissions (Scope 3) for downstream leased assets over this same period. This target equates to a 41% reduction per sq m of its tenants emissions.