REITs sector guidance

Criteria
1

Hi,

Could you please confirm whether a Real Estate Investment Trust (REIT) falls under the SBTi financial institutions or buildings sector guidance?

Thanks.

Kind regards,
Matias

2

Hi Matias,

Currently mortgage REITs (mREITs) fall under the SBTi FI guidance. All other REITs (i.e. equity REITs) would fall under the Buildings Guidance due to inventory scoping considerations.

Thanks for your question,
Hunter

3

Hi Hunter,

Please can you confirm if a Equity REIT with less than 500 FTE’s would fall under the SME route or Standard Route (Buildings Guidance)?

Thanks,
Katie

4

Hi Katie,

On the corporate side, the SBTi provides a streamlined target validation route for SMEs, where an SME is defined as a non-subsidiary, independent company with fewer than 500 employees.

It should be noted that this(along with the consideration of eREITs being included as an activity of an FI) may be updated upon adoption of the new Buildings guidance after public consultation and upcoming FI Framework updates.

Best,
Hunter