The traditional linear economy is clearly no longer a sustainable model for growth. The idea of a take/make/dispose economic plan cannot continue in a world racked with climate change issues.
The Carbon Risk Real Estate Monitor (CRREM) is an EU-funded research consortium that aims to mitigate those risks and accelerate decarbonisation and the resilience of commercial real estate. At the current rate, the EU carbon budget, allocated to the sector until 2050 (i.e. 24 GtCO2e for a 2˚C scenario), is only expected to last until 2039, which underlines the importance of the project.
In the real estate industry, transition risk includes the failure of properties to meet future market expectations or regulatory requirements relating to energy consumption and greenhouse gas emissions. To measure the climate transition risk of UK real estate, we leveraged a tool from a recently completed EU-funded research project called CRREM (Carbon Risk Real Estate Monitor).
Take a look at Indonesia. Its rainforests are home to some of the highest levels of biological diversity in the world. Many sources credit Indonesia as the most species-rich country on earth. Spread over 17,500 islands, Indonesia contains the world’s third-largest area of the rainforest after the Amazon and Africa’s Congo Basin. The biodiversity is at risk.