NREP joins RE100 with 100% renewable electricity
As the first real estate company in the Nordics, NREP joins RE100, a coalition of companies pioneering the green transition. NREP now commits to 100% renewable electricity in direct operations within one year, and for all buildings before 2025.
As the first real estate company in the Nordics, NREP, has been included as a member of RE100, a global coalition bringing together the world’s most influential businesses committed to 100% renewable electricity. RE100 is led by The Climate Group in partnership with CPD.
“Close to 30% of the world’s energy-related CO2 emissions comes from the buildings sector. With two thirds of those emissions coming from electricity use in buildings, it is obviously all-important for society that we work to reduce emissions. Today, we announce an ambition to run all our buildings on 100% renewable electricity, and we commit to lead a change towards a low-carbon future,” says Claus Mathisen, CEO of NREP.
Electricity use in buildings is growing on a global basis, according to IEA, the International Energy Association. In buildings that NREP owns and manages, the power consumption is currently totaling 145,000 MWh per year. With more than 2,3 million square meters of real estate across the Nordics, NREP’s commitment sets a new standard for the industry.
With its ambition to become powered 100% by renewables, NREP commits to switch to renewable electricity within one year in all buildings directly operated in Denmark, Sweden, Finland and Norway. Before 2025, the company commits to a 100% transition including ‘indirect electricity use’, i.e. electricity chosen and consumed by tenants.
“The transition to renewable electricity is a significant step towards a future in which all energy used in buildings is renewable. Heating and cooling buildings solely with renewable energy still requires innovative solutions and new kinds of partnerships. However, we are working hard to reach this goal – for the benefit of our customers and society at large,” says Claus Mathisen.
He points to three Nordic projects, where NREP is currently working to find new ways to support a green transition.
• In Denmark, NREP has developed the country’s first large scale grid connected rooftop solar system with 144,000 square meters of panels, producing power enough for 1,300 private homes, saving 2,000 tonnes of CO2 emissions every year.
• In Finland, NREP is building the world’s first deep geothermal well with seasonal storage capability. This could provide large building with green energy, cutting CO2 emission by 95%.
• In Sweden, NREP’s energy audit of 13 logistics buildings, documented a potential to save one-third of the energy consumed in each building, equal to a total annual saving of 1,000 tonnes per year.
Companies in the commercial and industrial sector account for two thirds of the world’s end-of-use of electricity. Members of RE100 is committed to switching this demand to renewables and, thus, transform the global energy market and accelerate the transition to a clean economy. nrep.com
“It is critical that the real estate sector takes charge of accelerating the transition to clean electricity. NREP is demonstrating leadership by committing to making the switch to 100% by 2020, signaling to other landlords that it is very possible to do it now and do it fast – and, importantly, showing their tenants that they too can help them decarbonize,” says Sam Kimmins, Head of RE100, at The Climate Group.
RE100 was launched in 2014. Today, 206 companies have been accepted as members, either by having a significant electricity consumption, being a Fortune 1000 company, or by being recognized as a trusted brand with an international or regional influence that is of benefit to RE100’s aims.
In the Nordics, the coalition now has 14 members, including IKEA, Novo Nordisk, DNB and Carlsberg.
A transition towards 100% renewable energy supports UN’s Sustainable Development Goal no. 7, ‘Affordable and Clean Energy’, which aims for a ‘substantial increase in the share of renewable energy in the global energy mix’.