CBRE Investment Management and NN Group launch venture to invest in Dutch sustainable residential real estate

CBRE Investment Management and NN Group have launched Positive Impact Programmatic Venture (PIPV), a collaboration between NN and CBRE Investment Management with an initial equity commitment of €500 million ($546 million).

The venture will invest in Dutch sustainable and affordable residential real estate with the aim to improve energy efficiency and reduce carbon emissions. PIPV contributes to NN Group’s target to increase investments in climate solutions by at least €6 billion ($6.6 billion) by 2030.

The program aims to make an impact on a broad range of environmental, social and governance (ESG) themes. The ambition is to achieve alignment with the environmental objectives of the E.U. Taxonomy for all investment properties, while also focusing on providing mid-priced rental for households who do not qualify for social housing.

PIPV targets a reduction of 80 percent of landlord-controlled greenhouse gas emissions, procuring 100 percent renewable electric