CapMan Real Estate press release
11. June 2025 at 14.00 pm EEST
CapMan Real Estate received validation of its net zero climate targets from the Science Based Targets initiative (SBTi) in accordance with the Buildings Criteria on June 3, 2025. This makes CapMan one of the first companies to set science-based reduction targets for upfront embodied emissions from development projects.
n June 2025, CapMan Real Estate had its long-term net zero climate targets validated under the SBTi Buildings Criteria. The validated targets include reducing in-use operational GHG emissions by 90.90% per square metre by 2035, upfront embodied GHG emissions of buildings by 96.59% per square metre by 2040 for new constructions, and in-use embodied GHG emissions by 99.80% per square metre by 2040 for major renovation projects, all from a 2021 base year. The remaining emissions are planned to be neutralised through carbon removals as the very last measure. Upfront embodied carbon refers to emissions related to materials and construction in new developments, while in-use embodied carbon covers relates to similar emissions from major renovation projects.
“CapMan Real Estate has already reached its near-term GHG reduction targets for residential investments in 2024, eight years ahead of schedule, a milestone validated by the Science Based Targets initiative. But to tackle the full climate impact of real estate, we also need to address the carbon built into materials and construction, which made up 46% of our footprint in 2021. By acting early and voluntarily, we’re building resilience in our assets and helping drive the market,” says Anna Rannisto, Sustainability Director at CapMan Real Estate.
In 2024, CapMan Real Estate was selected as one of the first companies globally to participate in the SBTi Buildings pilot test, placing CapMan at the forefront of developing tools for the decarbonisation of buildings. In August 2024, SBTi introduced sector-specific guidance for the construction and real estate sector.
By 2024, CapMan had already achieved a 63% reduction in GHG intensity for residential buildings, surpassing the 2032 target well ahead of schedule. For commercial properties, CapMan is on track with a 37% reduction in GHG intensity in 2024 compared to 2021, following a linear reduction path.
In 2023, the SBTi validated CapMan’s near-term climate targets. The real estate-specific targets include reducing operational GHG emissions from residential buildings within the direct investment portfolio by 50% per square metre by 2032, using 2021 as the base year, and cutting emissions from service (commercial) buildings within the direct investment portfolio by 72% per square metre by 2032 over the same period. The targets were assessed using a sector decarbonisation approach.
“Our steady progress over the past few years reflects our vision of developing human-centric real estate with a net positive environmental impact,” notes Rannisto.
For more information, please contact:
Anna Rannisto, Sustainability Director, Real Estate, +358 40 626 6383
Anna Olsson, Head of Sustainability, +46 733 877 561
About CapMan
CapMan is a leading Nordic private asset expert with an active approach to value creation and €6.4 billion in assets under management. As one of the private equity pioneers in the Nordics we have developed hundreds of companies and assets creating significant value for over three decades. Our objective is to provide attractive returns and innovative solutions to investors by enabling change across our portfolio companies. 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 and our commitment to net-zero GHG emissions by 2040. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover real estate and infrastructure assets, natural capital and minority and majority investments in portfolio companies. We also provide wealth management solutions. Altogether, CapMan employs around 200 professionals in Helsinki, Jyväskylä, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are listed on Nasdaq Helsinki since 2001. www.capman.com