NREP’S PHILOSPHY & APPROACH
Making a difference is intentional and inherent to why we do what we do
NREP has always been about identifying that gap between how things are and how they could be – and then creating value by doing something about it. We are a purpose-driven organization and impact is inherent to our core business activities from investment strategy to sourcing, development management, asset management and exits.
We focus our investments and resources on properties and solutions that address structural social or environmental challenges. NREP’s approach to sustainability covers several aspects, from helping push technology innovations and building practices to purpose-driven real estate products and industry engagement.
On the scale from ‘classic investing’ to ‘philanthropy’, the majority of NREP’s main strategies can be described as ‘strategic and intentional’ by nature. More than 50% of our residential strategies, which in total represent 2/3 of our investment program, are addressing structural challenges such as the lack of student housing, rental catering to people at or below median income and care homes.
A minority of our investments are less inherently impactful but benefit from the integration of ESG factors. For example, our logistics property business is pioneering on-site renewables in the Nordics by methodically rolling out the largest rooftop solar program in the Nordics and repeatedly launching record-breaking rooftop solar installations or zero-emissions heating through on-site deep geothermal heating.
We strive for 10% of our investments to be what we call lighthouse projects, where we truly push the sustainability agenda forward.
See Anders Berg Sørensen, Investment Manager in NREP elaborate on his daily work with sustainability in NREP.
Home.Earth is an impact real estate company founded in 2021 to address challenges in the built environment around inequality, sustainability and liveability in ways that NREP is not able to given funding structures and investor proposition. They will be an integrated real estate investor, developer and operator creating homes that are affordable for all groups in society.
Home.Earth has been founded to be a pathfinder towards a more equitable economic paradigm in real estate – a paradigm that is market-based, but with equal regard for people, planet and profit. Home.Earth will be controlled by a foundation to safeguard its purpose and operates with an evergreen horizon, aligning incentives over the very long-term. Initial focus is on the largest cities in Denmark, Finland and The Netherlands.
2150 reflects NREP’s long-standing commitment to make the built environment greener by investing in technologies set to make cities more resilient and sustainable. This urban tech venture will focus on addressing the biggest unsolved urban problems – from the way our cities are designed, constructed and powered, to the way people live, work and are cared for.
The first investment is clean-tech company CarbonCure, where 2150 invested alongside Amazon’s Climate Pledge Fund and the Bill Gates-led Breakthrough Energy Ventures. Among others, 2150 is backed by Chr. Augustinus Fabrikker, Novo Holdings and Vaekstfonden, part of Denmark’s Green Future Fund, as well as several European real estate players with over 16 million of square meters under their platforms.
10% of NREP profit goes to support high impact social initiatives outside NREP through our N-Power program.
An illustrative example of N-Power’s approach and objectives is Human Practice Foundation. In 2014, the N-Power Fund co-founded the Human Practice Foundation, which primarily develops schools in Nepal and Kenya using a business and investment approach with local anchoring. In addition to being the single largest financial donor, NREP has been providing offices, staff time and other support for the Human Practice Foundation.