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NREP Sustainability

NREP Sustainability

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Investing for positive planetary impact

By 2050, the United Nations estimates that over 6 billion people will live in urban areas, which equates to roughly seven out of ten individuals. While cities offer numerous opportunities for culture, joy, businesses, and job opportunities, rapid urbanization also poses significant challenges. Overcrowding, housing shortages, increased pollution, and social and economic disparities are just a few of the issues facing growing cities.

At NREP, we recognize the importance of investing in urban ecosystems today to create more resilient, sustainable, equitable, and livable cities for future generations. We were founded on the belief that real estate is ready for change and continue to foster this mindset as we work to make a positive impact.

We have increased our ambitions and invested in our sustainability capabilities across various segments, incorporating both social and environmental aspects. Innovations and industry engagement are essential to improve the built environment, and in October 2021, we set an ambitious NetZero target to become net zero across operational and embodied emissions by 2028.

Welcome to learn more about our imperfect journey!

SOCIAL IMPACT:

UMEUS – Next level of social diversity in student housing, Nanna Yang-Sook Larsen

ENVIRONMENTAL IMPACT:

Norra Vitsippan – Pragmatic application of existing technologies for net-zero operational emissions, Rickard Langerfors

INNOVATION:

UN17 – Using Spacemaker’s innovative technology, Claus Mathisen

INDUSTRY ENGAGEMENT:

Why real estate need systemic change, Mikkel Bülow-Lehnsby

Keep reading

  • “Impact is intentional and inherent to the core of what NREP is about. We believe that ‘making real estate better’ is a massive opportunity to enrich people’s lives and contribute to a more sustainable world. We also believe that it is an unrivalled opportunity for growth, stable returns and competitive advantage. We are purpose driven and see a moral imperative. In a laggard real estate industry that largely has been stuck in a short-term narrow view of value creation, we act on an opportunity to take a long-term holistic approach that reconceives customer needs, product solutions and stakeholder collaboration in a way that creates more economic value alongside more value for society.”

    Claus Mathisen, CEO
DECARBONISING REAL ESTATE

NREP pledges to decarbonise its real estate business by 2028.

The pledge covers GHG emissions from:

  • Operational emissions: Total energy consumption in standing real estate assets
  • Upfront embodied emissions: From new construction projects
Impact report 2021

Our world needs us to re-imagine urban ecosystems and the real estate that exists within it. We must visualise a radically better way, learn how to get there as quickly as possible, and then actually do it!

When we pledged to decarbonise our real estate portfolio by 2028, we knew it would send us on a steep learning curve and that delivering on this goal would require new capabilities. We are engaged in an array of projects, some of which are showcased in this report, which pilot new, more advanced and scalable solutions and approaches to delivering commercially viable, sustainable real estate. We are investing in building a more systematic and efficient approach to incorporating sustainability criteria into the decision making process across our value chain, from investment to exit. We are also investing in ESG data management tools to learn even more about how to best tailor and target our efforts. Our 2150 VC fund was specifically launched to help accelerate the growth of green technologies that serve urban environments.

In summary, 2021 was a year of hard work from which we have drawn valuable learnings and insights. We are especially pleased to see that our ambitions are helping us strengthen our relationships and ways of working with partners and stakeholders. Together, we will change our sector for the better.

 

Our goals

PROVIDE MORE PEOPLE FULFILLING WAYS OF LIVING

Address underserved needs with customer-friendly and community-centric products. Build environments that support physical, social and mental health.

DECREASE CARBON AND RESOURCE FOOTPRINT

Innovate and optimise building design and materials. Ensure energy efficiency and increase renewables.

RESILIENT STRONG LONG-TERM VALUE AND RETURNS

Address systemic challenges. Apply full life cycle economics and long-term approach to create better solutions.

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