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Several pension fund organizations in the Netherlands are backing a new initiative to help real estate investors and managers prepare their investment portfolios for climate change.
The research, carried out by Austria-based Institute for Real Estate Economics (IIÖ), will help investors assess, manage and mitigate climate risk and develop climate scenario–based strategies.
The initiative will be supported by GRESB, the ESG benchmark for real assets, and financially backed by APG, the largest pension delivery organization in the Netherlands, as well as PGGM, a cooperative Dutch pension fund service provider with €238 billion ($263 billion) in assets under management, and Norges Bank Investment Management (NBIM), which manages the Norwegian Government Pension Fund Global.
The initiative will develop 1.5- and 2-degree decarbonization pathways for real estate assets by applying global carbon budgets, extending to 2050. It will comprise annual estimates of build
