CRREM, the Carbon Risk Real Estate Monitor, is a tool for analyzing buildings' and portfolios' carbon emissions performance against the carbon reduction pathways prescribed by the Paris Agreement’s 1.5° climate warming scenario.
The Excel-based analysis tool can reveal whether a building is performing in line with the carbon reduction pathway prescribed for its size, use type, and location, if/when in the future it will no longer be in line with that pathway, and how much financial risk a building is liable to pose by not performing in line with its prescribed pathway.
What does the CRREM tool do exactly?
Assesses building’s alignment with the Paris Agreement 1.5° warming scenario that is specific to the building’s use type and geography.
Assesses a portfolio of buildings to get a sense of the group’s overall alignment to the 1.5° scenario.
Detects the risk of a building being “stranded” (transition risk) meaning eventually becoming so over-burdened with penalties that it becomes difficult to sell or operate.
How can I access the CRREM export in Measurabl?
To access the CRREM export, the portfolio to be analyzed must have a Premium subscription. Portfolios with Premium subscriptions will see CRREM as an available export on the Reports page.
- From your log-in landing page, click on the 'Reports' tab on the left hand menu.
Click the CRREM export.
Select which year to analyze and the buildings you want included in the export.
Click the 'Export' button in the top right when you are ready to download.
What restrictions are there in analyzing buildings with CRREM?
There are a couple of limitations to CRREM that Measurabl’s export functionality helps users navigate:
Geography: CRREM can currently only analyze carbon pathway alignment for buildings in EU and North America. Measurabl’s export functionality only allows users to select buildings that are in eligible regions.
Use type: Buildings of Residential or Education use types will not be exportable because CRREM has not developed pathways for them.
Volume: The CRREM tool can only analyze 250 buildings in a single export, so Measurabl enforces a 250-building maximum when selecting buildings to analyze.
How does CRREM relate to the Science-based Targets Initiative?
CRREM and SBTI, formerly operating in parallel to develop decarbonization pathways for the real estate sector, are now collaborating partners and share a single methodology. CRREM has aligned its pathways with SBTI, and the CRREM methodology has been established as SBTI’s sectoral decarbonization approach for commercial real estate. Analyzing a portfolio with CRREM is a meaningful first step to developing and committing to an SBTI target.