Nordic real estate investor NREP has pledged to fully decarbonise its portfolio by 2028.

As part of the plan to achieve this target, the €12.5bn asset manager said it has adopted the decarbonisation tools of the Carbon Risk Real Estate Monitor, which provides ”tangible science-based targets for each property type and geography”.

All developments will undergo early-stage life cycle analysis to enable design and material choices that significantly reduce embodied CO2 emissions, NREP said.

Claus Mathisen, CEO of NREP, said from the largest Nordic rooftop solar plant to embodied carbon concrete, NREP has always pushed the boundaries when it comes to ESG innovation and investment.

“The challenge should not be underestimated but we know that real estate has an enormous role to play in the transition to a zero-carbon economy and it has been hugely encouraging to see the sector galvanise ahead of COP26.

”But pledges alone aren’t enough – we need substantially more decisive action to protect our planet from the urgent environmental pressures that it faces and invite partners to join us in this movement towards making decarbonised cities a reality.”

To read the digital edition of the latest IPE Real Assets magazine click here.