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CRREM takes an important step towards an independent, open-source standard

CRREM Takes a Major Step Towards Independence with the Establishment of the Carbon Risk Real Estate Monitor Foundation (CRREM Foundation).

CRREM has taken a significant step toward a future where independence from commercial and political interests is central with the establishment of the Carbon Risk Real Estate Monitor Foundation (CRREM Foundation). The foundation ensures that decarbonization pathways remain fully open-source and publicly accessible while maintaining scientific integrity and global reach. The initiative is supported by €1 million in philanthropic funding to refine pathways and expand to new property types and regions.

An interim board, including representatives from APG, PGGM, and Norges Bank Investment Management, has been appointed to oversee the transition. In 2025, a new CEO will be appointed, and the foundation's strategy and governance will be reviewed.

To date, CRREM has developed decarbonization pathways for various property types across 44 countries. With the recently secured additional funding, this scope will expand to cover new regions and property types, addressing the needs of diversified real estate portfolios.

As part of this transition, Prof. Dr. Sven Bienert has decided to step back from the CRREM initiative. The core team—Julia Wein, Hunter Kuhlwein, and Sebastian Leutner—will remain to ensure operational continuity and guide the further development of pathways. The focus will be on greater regional and sectoral refinement, as well as strengthening international collaborations.

The interim board, consisting of representatives from APG Asset Management N.V., PGGM Vermogensbeheer B.V., and Norges Bank Investment Management, will be expanded in 2025 to include additional stakeholders. An independent expert will guide this process and advise on the governance structure, including the role and composition of the Global Scientific Committee and the Industry Committee.