This project has received funding from the European Union’s Horizon 2020 research and innovation programme under grant agreement no. 785058.
Concept
The European Union intends to decarbonize the building sector by 2050. Investment in retrofit could benefit the EU by up to EUR 175 bn per year.
One of the biggest challenges for the reduction of GHG emissions results from the poor energy efficiency of existing buildings and still too low refurbishment rates in virtually all member states of the European Union.
The reduction of the EU carbon footprint requires a significant increase of energetic retrofits in the existing property stock.
The reduction of carbon-risk factors associated with premature obsolescence and potential depreciation due to changing market expectations and legal regulations are key objectives of the EU-funded research project CRREM (Carbon Risk Real Estate Monitor).
Objectives and Methodology
The overall objective of the Carbon Risk Real Estate Monitor Project (in short CRREM) is to contribute to an increase of energy efficiency investments in the real estate sector by addressing the need to understand the down-side-risk of climate change.
Hence, we focus on decarbonisation requirements of the assets under management compared to the overall sector targets and INDCs.
Additionally, CRREM seeks to accelerate the decarbonisation of the real estate sector by enabling investors to set science-based carbon targets and reduction pathways and with monitoring tools that are necessary to manage efficiency measures effectively.
CRREM addresses the following sub-objectives in order to fulfil the overall goal:
Objective 1 – Downscaling & transparency: Breaking down INDCs by sector, company and property level for more transparency and capacity building
Objective 2 – Strategic implication of “Stranded assets”: [1]Defining areas for improvement and strategic options
Objective 3 – Framework, Toolkits & Methods: Making decarbonisation in the commercial real estate sector measurable
Partners
- TIAS School for Business and Society
- Ulster University
- The University of Alicante (
- GRESB
- Others
Start date: 1 February 2018 - End date: 31 January 2021
