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?
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Assesses building’s alignment with the Paris Agreement 1.5° warming scenario that is specific to the building’s use type and geography.
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Assesses a portfolio of buildings to get a sense of the group’s overall alignment to the 1.5° scenario.
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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.
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Click the CRREM export.
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Select which year to analyze and the buildings you want included in the export.
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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:
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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.
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Use type: Buildings of Residential or Education use types will not be exportable because CRREM has not developed pathways for them.
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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.