We are aware that CRREM is a widely used tool for real estate portfolios, it’s however not yet an accepted method within the SBTi finance framework.
For validation, we will assess targets modeled using CRREM against SDA using a global pathway and will accept targets that are equally or more ambitious than SDA targets. Please also ensure that the scope of CRREM targets is equivalent to that of SDA targets(see “data input” section on page 127 of the FI guidance). We would therefore recommend that you use both SDA and CREEM to model targets for the purpose of validation (see example case study below on page 69 of the FI guidance).
The good new is that in a few months, we will have a new hire joining us to assess and integrate the CRREM pathway into the SBTi finance framework.