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!


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


UN17 – Using Spacemaker’s innovative technology, Claus Mathisen


Why real estate need systemic change, Mikkel Bülow-Lehnsby

  • “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

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 2022

The reasons to undertake radical action to cut carbon emissions from real estate and work with sustainability across the urban ecosystem are overwhelmingly clear. And today, it is no longer a matter of simply increasing value; we are now also moving towards preserving the value of our buildings and avoiding the risk of stranded assets.

During 2022, we have undertaken a variety of projects that test out new, more innovative, and scalable strategies and methods for delivering commercially feasible and sustainable real estate. We have invested significantly 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 have started designing three Earth Shots, which we will use as innovation labs to test innovative solutions to bring down not only operational emissions, but also reap important learnings in bringing down embodied emissions. Our internal team has widened, and now consists of diverse professional and personal qualities from energy experts to ESG data professionals to support the extensive topic of sustainability.​

We are proud of the results, we delivered in 2022. More than 90% of our new developments now have a target EPC rating B or higher, and our portfolio is on average aligned with the CRREM 1.5 degrees pathway. We have installed or are in the process of installing more than 32 MW of on-site renewables, and our first Earth Shot within Logistics has paved the way for bringing down embodied emissions significantly. And we have now built more than 20,000 units of housing that address underserved segments, including care home spots and student housing units.

2022 was another year with valuable lessons and insights. We are grateful for the continued support and partnerships across the entire industry. Our shared goal is to achieve a wide-ranging sustainable impact in our industry.​

Elisabeth Hermann Frederiksen, Head of Sustainability

Our goals


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


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


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