Carbon Risk Real Estate Monitor (CRREM)

The overall objective CRREM project is to accelerate the decarbonisation and climate change resilience of the EU real estate sector by providing appropriate science-based carbon reduction pathways at property, portfolio and company level. CRREM aims to integrate carbon efficiency and retrofit requirements into investment decisions by evaluating and clearly communicating the downside financial risks associated with a low energy performance and quantifying the financial implications of stricter regulatory environment regarding carbon intensity on the building stock (so-called risk of stranded-assets). CRREM has produced clear Science Based Targets for the sector, a tool/framework to assess risk and qualitative reporting templates, which will contribute to accelerate the decarbonisation of the EU building stock to “2-degree-readiness”. CRREM will apply a sectoral decarbonisation approach to downscale EU’s carbon reduction commitments (INDCs) to the Paris Agreement to sector and building level. The project consortium comprises industry partners IIO (Austria) and GRESB (Netherlands) along with three academic partners including Ulster University, University of Alicante (Spain) and Tilburg University (Netherlands).