Driving CARBON emissions to zero

NREP’s ambition is to drive our net operational and embodied CO2e emissions to zero already by 2028. The near-term goals for delivery by 2023 include reducing upfront embodied carbon by up to 30% on own new developments and reducing min. 50% of operational carbon emissions from 2020 levels. By proving solutions, we can help raise the industry standard more broadly, which we see as one of our core opportunities to make a difference both in the Nordics and internationally.

We have previously adopted the 1.5 degrees decarbonization pathways of the Carbon Risk Real Estate Monitor (CRREM), which provides tangible science-based target levels for the energy intensity reductions per property type. During the last two years, we have significantly increased investments in tools and capabilities to decrease the embodied carbon of our new developments and our portfolio carbon intensity continues to reduce in line with the decarbonization pathways. We have also continued to create solutions and partnerships for scaling the adoption of existing technologies to further decrease operational carbon of new developments and standing assets.

We also stepped up the ambition level and pace of our roof top solar program. Since 2019, we have completed or are in the process of completing, the development of 27.2 MW capacity of on-site renewables.