CRREM Update: Verco report on changes and implications for real estate
On 12th October 2022, CRREM published the long-awaited update to their methodology document and pathway targets. As well as addressing the issues highlighted in v1 of the CRREM methodology and updating the underlying datasets, this new methodology seeks to align CRREM with the approach of the Science Based Targets initiative.
In this report, Consultant in our Real Estate team, Luke Riseborough provides the key headlines of the update as well as a summary of what CRREM is, the purpose and background of the tool and the 'what and why' behind the changes.
The report is divided into sections, outlining how the update impacts three core areas of the tool:
- Carbon targets
- Energy targets
- SBTi alignment
Key implications for real estate are given in the final section.