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Nuveen Real Estate has set a 2040 net zero carbon plan for its $ 133 billion (€ 109.7 billion) global real estate portfolio as the company seeks to meet its targets ten years ahead of targets set by the deal. Bets on the climate.
The property management arm of U.S. financial services group TIAA is committed to reviewing every asset and creating a net zero business plan for every building, ensuring buildings are operating as energy efficiently as possible. and work alongside occupants to ensure alignment and integration of tenant emissions. in a building’s net zero carbon strategy â€.
Michael Sales, CEO of Nuveen’s real estate and real estate assets business, said: “Our net zero carbon trajectory is a bold and clear commitment to achieve net zero in our global real estate portfolio by 2040.
“We believe this is essential to create a better world for future generations, but it will also help mitigate climate risk in our real estate strategies and secure our investments.”
Abigail Dean, Global Head of Strategic Information at Nuveen Real Estate, said: “ESG has been at the heart of our investment strategies for over a decade. As the world moves towards a net zero carbon future, governments around the world will rightly increase environmental regulations to achieve this, but we believe it is important to move towards this goal as soon as possible.
“This is why we are proud to have committed to achieving zero carbon footprint across our global real estate portfolio by 2040 at the latest, ahead of these broader targets.”
Last month, Schroder Real Estate presented its net carbon reduction plan for its real estate portfolio to help the company achieve its goals in line with the United Nations Sustainable Development Goals.
In addition, CBRE Global Investors announced its plan to achieve net zero carbon performance by 2040 for its long-term, directly managed core investments.
To read the digital edition of the latest IPE Real Assets magazine, click here.
