Real Estate Investments - Scope 3.13 vs. Scope 3.15

Dear Community,

especially when having a look at the latest Draft for the second version of the Short-Term Standard one thing is very unclear to me.

  • It is stated in Fi-C16 that “FIs shall set targets on all “Required Activities” in the Required
    Activities and Methods Table (Table 5.2)”
  • Looking at this table I find the sub-asset class “Direct investment in real estate assets” (for own use or investment purposes) What those exaclty are is not closely defined (as far as I can see)

The following questions appear to me:

  1. Do Real Estate assets of FIs which are used for their own business operation fall under this category? (According to GHG Protcol they would fall under Scope 1+2)
  2. Do Real Estate Assets of FIs which are fully owned but leased to others fall under this category? (According to GHG Protocol they would fall under Scope 3.13 Leased Assets)

In my understanding, both of the above to not fall under Scope 3.15 and do therefore not qualify for this asset class. However, if this is correct, I do not see how "Direct Investments in real estate assets (for own use) could fall under Scope 3.15.

I would highly appreciate if you could clarify my questions or if you could provide any additional information regarding this topic.


1 Like