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Pandox’s GHG emissions in 2023

Pandox's biggest negative impact on the climate is through greenhouse gas emissions throughout the value chain; scopes 1, 2 and 3. In 2023 Pandox's total emissions increased slightly. Pandox's approved Science Based Targets mean that by 2030 Pandox will reduce greenhouse gas emissions in its own operations (Scope 1 and 2) by 42 percent and in Leases (Scope 3) by 25 per cent from the base year 2022

Pandox's total emissions increased by 6 per cent in 2023. Emissions for CO2e/sq m were 53 compared with 50 the previous year.

The increase is mainly due to emissions category 1. The spend analysis that was carried out has a broader data basis than in 2022 due to an improved internal process. The decrease in emissions from reported energy data is due to reduced energy use by tenants.

Within Scope 1, emissions decreased by 6 per cent. The reduction shows that Pandox's initiatives to emissions in its Own Operations have had an effect during the year despite higher occupancy. The Scope 2 market-based increase is due to the lack of green electricity contracts in acquired hotels for 2023.