As a long-term and diversified investor, our return depends on sustainable development in economic, environmental and social terms. We are therefore committed to expertly managing the climate risks and opportunities across our entire portfolio, including real estate. The principles set out in this report are closely incorporated into our real estate decarbonisation strategy: our 2050 net zero target covers operational and embodied carbon emissions, our 2030 operational targets cover tenant and owner spaces, and we see carbon and energy data transparency, including benchmarking against 1.5°C pathways such as CRREM, as crucial to understand asset performance and inform investment decisions.

Mie Caroline Holstad, Chief Investment Officer Real Assets, Norges Bank Investment Management

Ivanhoé Cambridge joined the LOTUF project to help address some of the key challenges real estate investors face in redeploying capital to support the decarbonisation of the built environment. Over the last 18 months we have worked closely with Systemiq and the other LOTUF investors to better understand what needs to happen to unlock the low-carbon real estate market and further integrate carbon into investment decision-making. We hope this paper helps rally investors behind the call for greater carbon transparency and clear targets as a basis for activating the low-carbon real estate market.

Michèle Hubert, Vice-president, Real Estate Strategy and Portfolio Construction, Ivanhoé Cambridge | CDPQ