Ventas Inc, a real estate investment trust (REIT) specializing in the ownership and management of health care facilities in the US, Canada and the UK, announced its plans to achieve net-zero operational carbon emissions by 2040. This new pledge exceeds the Company’s existing Science-Based Target initiative (SBTi) verified carbon reduction goal, which they adopted in 2021, to decrease absolute carbon emissions by 30% by 2030.

Three primary components are key to Ventas’ new plan:

• Energy Efficiency: Ventas has invested $60 million in energy efficiency upgrades since 2018 at a 15% return on investment. These 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. The Company will explore all viable options for renewable energy, including on-site generation, power purchase agreements and other green power purchase products.

• Electrification: Ventas commits to capital investment 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.