NREP is planning to run all the assets within its €4bn real estate portfolio on 100% renewable electricity within the next five years.
The Nordics investor said it has joined the RE100 green transition coalition and will now commit to 100% renewable electricity in direct operations within one year, and for all buildings before 2025.
Claus Mathisen, CEO of NREP, said: “Close to 30% of the world’s energy-related CO2 emissions comes from the buildings sector. With two-thirds of those emissions coming from electricity use in buildings, it is obviously all-important for society that we work to reduce emissions.
“Today, we announce an ambition to run all our buildings on 100% renewable electricity, and we commit to lead a change towards a low-carbon future.”
NREP, which has over 240 real estate investments representing more than 2.3m sqm, said the power consumption of buildings that it owns and manages currently totals 145,000MWh per year.
Mathisen said a full transition to green power across all NREP’s buildings will in some cases require innovative solutions, in other cases it will take close collaboration with its customers.
”The road towards transition may prove challenging, but we’ll work hard to make the switch – for the benefit of our customers and society at large.”
Launched in 2014, RE100 currently has 206 companies as members. In the Nordics, the coalition now has 14 members and NREP is the first real estate company in the region to join.
A transition towards 100% renewable energy supports UN’s Sustainable Development Goal no. 7, Affordable and Clean Energy, which aims for a ”substantial increase in the share of renewable energy in the global energy mix”.
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