CapMan Real Estate has been selected among the first companies globally to participate in the Science Based Targets initiative (SBTi) Buildings pilot test, putting CapMan on the forefront of developing tools for decarbonisation of buildings. The SBTi Buildings Project is developing science-based target-setting tools and guidance to help companies in the building sector to meet the 1.5°C climate goal – a goal which CapMan has committed to as well. The Pilot is central for the development of the tools we need to truly put the real estate industry on a science-based decarbonisation pathway.
The Science Based Targets initiative (SBTi) is a global body that helps companies set ambitious science-based emissions reductions targets in line with the latest climate science. As the building sector is responsible for over one third of the global energy consumption and emissions, the SBTi has initiated the Buildings Project to find pathways for buildings emissions to align with the 1.5 °C goal of the Paris Agreement.
The SBTi’s Buildings Project holds a pilot phase in which companies and financial institutions in the buildings value chain test its science-based target-setting guidance and tool drafts. By testing the guidance and tool drafts using real world data, the companies contribute to developing the guidance and help identify potential challenges in implementing it. The goal is to develop robust, clear, and practical resources that support building companies in setting 1.5°C-aligned science-based targets.
“We are thrilled to have been selected for this pilot test project as we get to be among the first ones in the world to test out best-practices for decarbonizing the building sector. We are looking forward to extending our existing greenhouse gas (GHG) reduction target scope from operational to embodied emissions and from near-term to long-term targets. This is to reach our net-zero targets which we are about to publish soon”, comments Anna Rannisto, Sustainability Manager at CapMan Real Estate.
In 2023, the SBTi validated CapMan’s near-term climate targets. The validated real estate specific targets are to reduce GHG emissions from residential buildings within the direct investment portfolio 50% per square meter by 2032 from a 2021 base year and from service (commercial) buildings within the direct investment portfolio 72% per square meter by 2032 from a 2021 base year.
CapMan, including CapMan Real Estate, has set long-term net-zero targets that will be communicated shortly. CapMan Real Estate plans to align these targets with the SBTi Building guidelines once they are finalised. In 2023, CapMan Real Estate prepared roadmaps to reach net-zero emissions including both operational and embodied emissions. The decarbonization work has already started.
CapMan Real Estate manages approximately €4.2 billion in real estate assets and the Real Estate Team comprises over 70 real estate professionals located in Helsinki, Jyväskylä, Stockholm, Copenhagen, Oslo and London.
For more information, please contact:
Anna Rannisto, Sustainability Manager, CapMan Real Estate, +358 40 6266 383
Mika Matikainen, Managing Partner, CapMan Real Estate, +358 40 519 0707
About the Science Based Targets initiative
The Science Based Targets initiative (SBTi) drives corporate climate action by enabling businesses and financial institutions globally to set science-based greenhouse gas (GHG) emissions reduction targets. It was formed as a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI), the World Wildlife Fund (WWF), and the We Mean Business Coalition. The SBTi’s goal is to enable companies worldwide to do what climate science requires of the global economy: to halve emissions by 2030, and achieve net-zero before 2050. The SBTi develops criteria and provides tools and guidance to enable businesses and financial institutions to set GHG emissions reduction targets in line with what science tells us is needed to keep global heating below 1.5°C.
About CapMan
CapMan is a leading Nordic private asset expert with an active approach to value creation. As one of the private equity pioneers in the Nordics we have built value in unlisted businesses, real estate, and infrastructure for over three decades. With approx. €5 billion in assets under management, our objective is to provide attractive returns and innovative solutions to investors. An example of this is greenhouse gas reduction targets that we have set under the Science Based Targets initiative in line with the 1.5°C scenario. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover minority and majority investments in portfolio companies and real estate, and infrastructure assets. We also provide wealth management solutions. Our service business includes procurement and analysis, reporting and back office services. Altogether, CapMan employs approximately 180 professionals in Helsinki, Stockholm, Copenhagen, Oslo, London, Luxembourg and Jyväskylä. We are listed on Nasdaq Helsinki since 2001. Learn more at www.capman.com.
