In brief: Amundi launches €1bn ‘net-zero’ real estate strategy

The strategy involves capping assets' carbon footprints in line with the Paris Agreement using CRREM's 1.5°C trajectory.

Amundi has unveiled a “net-zero ambition” real estate strategy that involves capping assets’ carbon footprints in line with the Paris Agreement.

The firm’s aim is to raise €1 billion for the strategy within three years; it has already raised €350 million, a spokesperson for the firm confirmed. The fund target was first reported by React News.

Here’s what we know, according to a press release from the firm:

  • Strategy: income-generating and value growth strategy;
  • Sectors: Mostly offices; some other sectors including logistics, residential, retail and hotels;
  • Geography: Mostly Western Europe; some “European peripheral markets”;
  • Managed by: Benjamin Launay, conducting officer at Amundi.

The impact aspects of the strategy are not clear, but the press release suggests Amundi expects the portfolio’s assets will retain “long-term value” due to “decarbonised assets” and “increasing energy performance”. Amundi aims to keep the portfolio’s carbon footprint below the Carbon Risk Real Estate Monitor’s 1.5C trajectory – a model for real estate assets to contribute to capping global temperature rises to 1.5C by 2050, in line with the Paris Agreement.