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European Climate, Infrastructure and Environment Executive Agency
News article20 July 20211 min read

The Carbon Risk Real Estate Monitor (CRREM): a new tool to reduce stranded investments and guide energy-efficiency decisions in real estate


The CRREM project, funded under H2020 Energy Efficiency, started in 2018 with the ambition to provide commercial real estate managers and investors with a tool to help them align their properties and portfolios with the goals of the Paris Agreement and avoid investments, which might strand in the future due to stricter environmental policies. 

In a first step, the consortium developed decarbonisation pathways based on scientific data for different building types. In a second step, these 1.5 / 2° C targets were integrated in the CRREM Tool, an easy-to-use Excel tool, which allows asset managers to assess the stranding risk of their buildings or even whole portfolios and to make better informed investment decisions. 

In a short time CRREM has become a market standard used and recommended by institutional investors such as Allianz or Deka Real Estate. It has attracted the interest of some of the most powerful institutional investors and real estate associations, bringing together more than 40 representatives in the European Investor Committee including EPRA and INREV, UNEP FI or the World Green Building Council. Even Japanese banks and associations are collaborating with the CRREM initiative in pilot projects. 

Investors with over EUR 450 billion of Real Assets under Management (AuM) and a total floor area of more than 23.3 million m² have made use of the CRREM tool, emphasising the contribution of the project towards the Renovation Wave of the European Green Deal. 

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Publication date
20 July 2021