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Carbon Risk Real Estate Monitor - Framework for science based decarbonisation pathways, toolkit to identify stranded assets and push sustainable investments

Objective

The overall objective of the Carbon Risk Real Estate Monitor Project (CRREM) is to accelerate the decarbonization and climate change resilience of the EU real estate sector by providing appropriate science-based carbon reduction pathways at property, portfolio and company level. Furthermore a framework for financial risk assessment to cost-effectively manage carbon mitigation strategies will be delivered. 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).

The poor energy efficiency of existing buildings and the still low refurbishment rates in virtually all member states are among the major risks for the sector, as many assets will become „stranded“ properties that will not meet future energy efficiency standards or whose required energetic retrofit will not be financially viable. CRREM will produce 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 decarbonization approach to downscale EU’s carbon reduction commitments (INDCs) to the Paris Agreement to sector and building level. The project will also provide investors with reliable risk assessment tools to promote more awareness for the need of climate risk management on corporate level. The project will also support the assessment of the financial, regulatory and administrative barriers for investment and how to overcome them. CRREM aims to reduce carbon emissions and increase investment in sustainable retrofits by making real estate decarbonisation targets more transparent and accessible across Europe.

Field of science

  • /social sciences/economics and business/economics/sustainable economy
  • /social sciences/sociology/governance/crisis management
  • /engineering and technology/environmental engineering/waste management/energy efficiency

Call for proposal

H2020-EE-2017-CSA-PPI
See other projects for this call

Funding Scheme

CSA - Coordination and support action

Coordinator

IIO INSTITUT FUR IMMOBILIENOKONOMIEGMBH
Address
Josef Steinbacherstrasse 1
6300 Worgl
Austria
Activity type
Private for-profit entities (excluding Higher or Secondary Education Establishments)
EU contribution
€ 676 777,14

Participants (5)

UNIVERSITY OF ULSTER
United Kingdom
EU contribution
€ 223 125
Address
Cromore Road
BT52 1SA Coleraine
Activity type
Higher or Secondary Education Establishments
GRESB BV
Netherlands
EU contribution
€ 314 062,50
Address
Barbara Strozzilaan 101
1083 HN Amsterdam
Activity type
Private for-profit entities (excluding Higher or Secondary Education Establishments)
STURGIS CARBON PROFILING LLP

Participation ended

United Kingdom
EU contribution
€ 53 603,08
Address
30 City Road
EC1Y 2AB London
Activity type
Private for-profit entities (excluding Higher or Secondary Education Establishments)
UNIVERSIDAD DE ALICANTE
Spain
EU contribution
€ 113 750
Address
Campus De San Vicente Raspeig
03690 Alicante
Activity type
Higher or Secondary Education Establishments
TiasNimbas Business School B.V.
Netherlands
EU contribution
€ 106 585
Address
Warandelaan 2
5037 AB Tilburg
Activity type
Private for-profit entities (excluding Higher or Secondary Education Establishments)