MAP Market Insight
Climate change has long been a reality and represents a growing challenge for the future. The need to reduce greenhouse gas emissions is recognized by almost every country in the world. More than 110 countries have even proclaimed the goal of achieving carbon neutrality by 2050.
Climate policy has led to many changes in national economies, which will become even more profound in the future. The energy sector is one of the areas tackled first because CO2 avoidance can often be achieved there with relatively inexpensive measures. However, most of these low-hanging fruits have already been harvested. Now measures which are more complex and expensive and often require behavioral changes are moving up the agenda.
This also applies to the building sector. In this report, we take a brief look at the risks that climate change poses to the real estate industry and present a tool to help proactively manage these risks. The Climate Risk Real Estate Monitor (CRREM) was developed by a transnational initiative with financial support from the EU. It enables building owners to compare the carbon footprint of a property or portfolio with the emission reductions required to meet climate targets.
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