Background

Over the last century, the world has become a much better place. Most of us have far higher quality of life and better education. Many move from the countryside to the city. We live better, live longer, and have technological aids that have made everyday life much easier than just 10, 20, 30 or 40 years ago.

The downside is far higher energy consumption. As much as 40 percent of the world’s energy goes to light, heat and cooling of buildings. It is worth noticing that this is happening despite the fact that today we have technology that makes it possible to develop buildings that use almost no energy at all. We even have technology that can turn buildings into net renewable energy producers.

Why haven´t this changed? Most buildings, even the most modern ones, usually use far more energy than is necessary. The reason is bad thinking in a real estate industry that needs serious re-thinking. The solution is both simple and difficult at once; We must stop wasting precious energy and start thinking of buildings as sources of energy.

Time for a change

At Miris, we have embarked on the task of introducing the industry to innovative thinking, with great enthusiasm and courage. Today we can make buildings that produce energy. Tomorrow we can build buildings that are constantly evolving to improve our own performance.

MIRIS has the ambition of becoming a solid contributor in energy-efficient real estate by using innovative solutions, smart technology and ecological, ethical building practices in ways that address the scarcity of natural resources and the changing relationship between society and a clean environment.

Energy and Emissions

According to Savills World Research1, the total global real estate industry in 2017 was valued at $281 trillion, and since increasing, constituting the largest asset class in the world. At the same time, according to the 2019 Global Status Report for Buildings and Construction report2 from the International Energy Agency (IEA), the buildings and construction sector accounted for 36% of final energy consumption and 39% of direct and indirect CO2 emissions in 2018.  

Global Property Growth

Over the next 40 years, the global building sector will grow by nearly 230 billion m2. That is equivalent to adding the floor area of Japan to the planet every year until 2060. Without action, energy demand in the buildings sector could increase 30 percent by 2030. This is the equivalent of all the energy used by households in the US, EU and China in 2015.   

Climate Challenges

Global challenges such as climate change, meltdowns, rising sea levels and general pollution in combination with population growth and urbanization have pushed new demands on the real estate industry. Authorities around the world have therefore agreed to impose a 40% carbon reduction requirement (by law) for all public, commercial and office buildings. Properties that do not have this reduction implemented by 2030 will be heavily taxed.  

OUR

VISION

A world in which everyone lives and works in buildings that produce more energy than they use

 

Green Finance Framework

This Green Finance Framework has been developed by MIRIS to facilitate the issuance of Green Finance Instruments. These instruments can include, but are not limited to, Green Bonds, Green Commercial Papers, Green Private Placements, Green Loans, and other types of debt instruments in line with the definition of “Green Finance Instrument” provided above. 

MIRIS’ Green Finance Framework has been developed in alignment with the Green Bond Principles 2018, and is structured around the four components of these principles:  

  • Use of Proceeds 
  • Process for Project Evaluation and Selection 
  • Management of Proceeds 
  • Reporting 

Additionally, as outlined in the Green Bond Principles, and to reflect MIRIS’ commitment the future development of green finance, this Green Finance Framework strives to align, where possible, to current international and national initiatives to produce taxonomies such as the Climate Bonds Standard V2.1 and the proposed EU Taxonomy June 2019. 

The proceeds from MIRIS Green Finance Instruments will be exclusively allocated to Eligible Projects. “Eligible Projects” include projects that target: 

  1. The mitigation of climate change, such as through investments in green buildings, energy efficiency, renewable energy, innovative technology with a potential for significant future energy savings, clean transportation, and waste management.
  2. The adaptation to climate change, such as water and wastewater management.
  3. Environmental and ecosystem improvements, such as emissions reduction and waste management. 

Executive team


Jan Gunnar Mathisen
Chief Executive Officer and Founder


Julie Tretteteig

Chief Financial Officer


Elin Hauge

Chief Commercial Officer & Innovation Director

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