NZIF 2.0: Implementation Guidance for Objectives and Targets - Section 8 Asset level targets:

The use of 4 Delivering the target .................................................6 particular tools and guidance, including the scope of participation Section 4 Allocation to climate solutions in any initiatives, is at the sole discretion of individual signatories objective and subject to their own due diligence. [...] For real estate assets being managed in line This target is encouraged to increase towards with net zero, investors are recommended the goal of 100% of AUM or financed emissions to assess the current and past performance to be net zero or aligned to net zero by 2040. [...] 4 Due to the nature of decarbonising real The Framework recommends that investors estate portfolios and assets, and aligning use the CRREM tool to assess the alignment with the Carbon Risk Real Estate Monitor of real assets. [...] Therefore, the asset would For example, SBTi’s 1.5°C embodied carbon be ‘aligning’ until the renovation takes place pathway for the global buildings sector and Box 29: Use of other methodologies and it falls below the 1.5°C decarbonisation in the UK, the UK Net Zero Carbon Buildings pathway. [...] building owners and tenants and allow the costs of retrofits to be shared through Engagement and escalation strategy building service charges When developing an engagement and Ќ Encouraging corporate tenants to adopt escalation strategy for real estate investments, corporate emissions reduction targets investors may want to consider the following consistent with net zero points: Ќ Strengthening th.