Decarbonising real estate
We cannot ignore the environmental footprint of real estate, as it is responsible for 37% of global GHG emissions. The sector urgently needs better ways to construct and operate buildings. Nrep is committed to lead and accelerate the way towards a carbon neutral sector.
We pledge to decarbonize our real estate portfolio by 2028 – encompassing both operational and embodied carbon.
Our milestones
By end of 2023
• Reducing upfront embodied GHG emissions by 30% from 2020 levels on own new developments.
• Reducing operational GHG emissions by 50% from 2020 levels. Our pledge covers whole building energy consumption in standing real estate assets.
• All new developments to hold a leading sustainability certification label
• Complete documentation of GHG footprint
By end of 2025
• Complete the development of three ‘earth shot‘ innovation projects, piloting decarbonisation solutions to reduce carbon footprint as much as possible – We are in search of solutions to reduce both operational and embodied emissions
2028 forward
• Reducing upfront embodied and operational emissions to zero or to a residual level that is consistent with reaching net zero emissions at the global or sector level in eligible 1.5°C-aligned pathways
Read more about actions from our decarbonisation policy.
Earth shots map our road towards CO2 neutral future
The term ‘moonshot’ is often used to describe an ambitious and ground-breaking project, explored without any near-term expectations of the outcome. Nrep is now undertaking three projects with a tall ambition and an exploratory approach, but with a clear goal to innovate to hugely benefit our planet. We call them earth shots.
With our earth shot projects, we are going above and beyond to find decarbonizing solutions. To discover new ways of building more sustainable buildings with significantly lower operational and embodied emissions, Nrep is seeking to build three ‘Earth Shots’ across three segments: logistics, residential and office (retrofit).
The objective of Earth Shots is to test innovative solutions, which can help us understand and learn more about decarbonisation in real estate. The clear aim is that these learnings can be integrated into our wider portfolio as we continue to decarbonise our assets.
For the earth shot projects, the entire building design and construction process will be re-engineered, leveraging the most innovative solutions to identify and solve any pain points causing a gap in CO2 balance.
Our imperfect journey
At the heart of Nrep’s strategy lies the pursuit of sustainable solutions that can be scaled up. We have consistently tried to push the limits of making the built environment more environmentally friendly. Through our innovative approach, we have tested and refined our methods, resulting in innovative achievements. For example, we have built one of the world’s first structures made entirely from 100% recycled concrete.
Currently, we are undertaking the development of a large-scale real estate project with the goal of aligning with all 17 of the United Nations’ Sustainable Development Goals.
For the industry to change, we need collaboration. We need to learn from each other and share our mistakes during our imperfect journey.