Hamburg / Frankfurt, April 24, 2023 – Quantum and right° will jointly provide the real estate industry with robust climate metrics going forward. The Hamburg-based real estate company is taking a 50% stake in the real estate division of the Frankfurt-based climate tech company. Together, the two partners will develop and market software tools to express the climate contribution of buildings in a simple metric: degrees Celsius.
Quantum Immobilien AG has acquired a 50% stake in the real estate division of the Climate Tech company right°. With this step, the two companies are deepening their partnership to provide the German real estate industry with climate metrics that are both science-based and easy to communicate. These allow industry actors to measure the climate impact of their real estate assets, funds or portfolios and to communicate it in an easily understandable way.
The basis for this is the X-Degree Compatibility (XDC) Model developed by right°: a science-based methodology to calculate the climate impact of economic entities and express it in degrees Celsius, thus establishing a direct link to the 1.5 °C target of the Paris Climate Agreement.
“With right°, we are working together to make the climate impact of the real estate industry measurable through science-based methods. The potential for the real estate sector is huge: not only can we express the sustainability of investments, revitalizations and soon also new buildings in a science-based and simple degree Celsius value. In the future, we will be able to provide investors, financiers, tenants, and public authorities with well-founded, easily understandable proof of the Paris conformity of projects or funds”, says Frank Gerhard Schmidt, board member of Quantum.
With this investment, Quantum and right° are expanding their collaboration, which began in 2022 with the analysis of existing properties and possible 1.5°C-compliant renovation plans, and continued in January 2023 with a pilot project on the climate impact assessment of new development projects.
“With this step, both partners are demonstrating their resolve to drive the transformation of the real estate sector towards the 1.5°C target and their willingness to rapidly create solutions where none have existed so far – such as in new buildings. Together with Quantum as a renowned partner, we want to set the standard in the real estate industry. We are convinced that this will enable us to lead the way as pioneers and bring momentum to the decarbonization of the real estate sector”, says Hannah Helmke, founder and CEO of right°.
Going forward, the real estate division of right° will be incorporated into a newly founded company of which Quantum and right° each hold equal shares. It will be led by Hannah Helmke (right°) and Lucius von Bethmann (Quantum) as executive directors.
Learn more about the right° real estate solutions here: https://www.right-basedonscience.de/en/products/real-estate