If you haven’t you’ve seen Adam McKay’s “Don’t Look Up” starring Meryl Streep, Leonardo DiCaprio, and Jennifer Lawrence, you should. The film is about an existential, though preventable, threat to our world, and no one seems to care.
Although an allegory, this political work reflects climate realities for many. For those concerned, there is no shortage of confusion about how best to deal with this potential threat.
But what if an answer lies right in front of us? Doing it is amazing 40% of global greenhouse gas emissions come from the ‘built world’. Forty percent is a decent number given what is at stake. In this case, look up – and to the right, and to the left, because the answer might be around.
Estimated front and center 97 billion won square feet of commercial real estate. Despite this large footprint and impact on the climate, the real estate industry’s lack of awareness and slow pace of technology adoption has hindered action until recently.
Add to that a misperception of the returns on climate investments, and frankly, an information overload as the industry gets smarter about being carbon neutral. Fortunately, evidence is emerging about the ROI of climate technology for both buyers and investors – evidence that could be crucial to moving the “Built World” into a carbon-neutral era.
Green turns to green
As the saying goes, you have to spend money to make money. And when it comes to reducing the climate impact on real estate, according to Jones Lang LaSalle (JLL), the path begins with the adoption of technologies that enable green certification such as LEED and BREEAM.
Among a series of conclusions, the JLL report cites that green certificates resulting in a rent insurance premium of 6% for commercial real estate and the sales insurance premium is 8%. But the recognition of climate change and the awareness of the effectiveness of climate technology is just the beginning. Knowing where to start brings its own challenges.
To achieve this ROI, property owners have implemented a range of cost-effective technologies such as efficient lighting, reimagined heating and cooling systems, and systems to reduce their energy consumption. surname. After all, to earn LEED certification, buildings must achieve performance scores that combine metrics across multiple categories including energy, water, waste, transportation, and quality.
In keeping with it, technology has emerged horizontally across the value chain of designing, building and retrofitting parts of the building lifecycle to improve metrics across LEED target portfolios. To unlock opportunities, consider specific investments at each point in time.
Climate technology solutions across the entire property value chain. firstEstimate per Cove.Tool; 2New York Times “New York’s Real Climate Challenge: Fixing Its Aging Buildings”; 3Ministry of Energy”Proving the Business Case for Building Analytics“. Image credits: SVB Capital.
Design and build
An ideal, carbon-free world could be built from scratch. Proven technologies like Cove.Tool and Juno Civil are emerging to enable this brave new world of energy efficiency, starting with how buildings are designed and how they are built from what material.
