Primaris makes initial steps on carbon after setting ESG targets

The real investment and management firm, which focuses on enclosed shopping malls, made a 4.9 per cent cut to greenhouse gas emissions on a like-for-like basis in 2023, putting it on track to its 2035 target of slashing the pollution 25 per cent against a 2022 baseline.n its fourth year as a publicly traded standalone company, Mahaney acknowledged Toronto-based Primaris can be seen as being behind its peers on ESG. But its team has “worked really hard to move the needle to get us to where we are now,” she said.

The real estate investment trust’s portfolio was valued at $4.1 billion as of 2024. The report covers environmental data as of Dec. 31, 2023 across over 15 million square feet of properties.