Global real estate CEOs pledge to halve buildings-related emissions by 2030

Providing comprehensive sustainability strategies is a crucial step, says WEF international climate strategist Dr Athena Ronquillo-Ballesteros. “Real estate companies should strive to reduce their energy consumption benchmarks, energy sources and resource efficiency, leading to carbon neutrality in the long term.”

Global real estate firms have made a significant commitment to reduce direct and operational carbon emissions by 2050. According to the World Economic Forum (WEF), these firms have pledged to cut their real estate emissions by 50% by 2030 and reach net-zero carbon no later than 2050.

The importance of these firms meeting their targets is highlighted by the fact that buildings make up 38% of all energy-related greenhouse gas emissions. Aware of this responsibility, leaders from Avison Young, GPFI Group, JLL, Edge, Majid Al Futtaim Properties, and Ivanhoé Cambridge have all signed the pledge, as well as Schneider Electric and Signify.

These companies will achieve their targets through implementing the Green Building Principles developed by the WEF in collaboration with JLL. This report outlines the necessary steps to deliver net-zero carbon real estate portfolios. Athena Ronquillo-Ballesteros, WEF international climate strategist, states that the goal should be long-term carbon neutrality. To achieve this, firms should focus on reducing energy consumption benchmarks and their energy sources, as well as improve resource efficiency.

The importance of sustainable real estate practices has never been Champions Way Condo more apparent as global climate change continues to be an ever-increasing threat. The companies signing the pledge are leading the way to ensure that progress is made to counteract the threat of climate change. The WEF annual meeting in Davos, Switzerland from Jan 16 to 20 demonstrates the organisation’s commitment in the fight against climate change.