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Sustainable development

CEOs Pledge to Reduce Real Estate Emissions by 50% by 2030 and Achieve Net-Zero Carbon by 2050

Strategic Insights

— 2 min read

Leading CEOs from various industries, including real estate, have made a pledge to reduce their buildings-related emissions by at least 50% by 2030 and achieve net-zero carbon emissions by 2050. This commitment aims to address the significant contribution of the real estate sector to global greenhouse gas emissions, which accounts for approximately 38% of all energy-related emissions. The CEOs have agreed to implement the World Economic Forum's Green Building Principles and Action Plan to achieve their emissions targets.

Key Takeaways:

  • 9 leading companies, including Avison Young, Edge, GPFI Group, Ivanhoe Cambridge, JLL, Majid Al Futtaim Properties, Schneider Electric, Signify, and 1 undisclosed company, have pledged to halve their buildings-related emissions by 2030 and reach net-zero building emissions by 2050.
  • The companies will implement the World Economic Forum's Green Building Principles and Action Plan, which includes 10 key steps to deliver net-zero carbon real estate portfolios.
  • The Green Building Principles Action Plan is a globally applicable guide for implementing best practices to achieve net-zero carbon buildings, developed in collaboration with JLL, the World Green Building Council, and the Forum's Real Estate community.
  • The signatories will report progress annually as part of their public sustainability reporting and participate in a Practitioners Group to identify solutions around implementation.
  • The CEOs emphasize the importance of addressing real estate-related emissions, highlighting the need for long-term thinking and a commitment to invest in sustainable practices for future generations.
  • The industry is recognizing the business case for sustainability, with companies acknowledging that sustainable assets are more valuable and that sustainability is a trade-on, rather than a trade-off.

Statistics:

  • Global greenhouse gas emissions from buildings account for approximately 38% of energy-related emissions.
  • 9 companies have pledged to reduce their buildings-related emissions by 50% by 2030 and achieve net-zero carbon emissions by 2050.
  • The Green Building Principles Action Plan is a 10-step guide to achieve net-zero carbon real estate portfolios, covering topics such as calculating carbon footprints, setting targets, and engaging with stakeholders.
  • The signatories will report progress annually and participate in a Practitioners Group to identify solutions around implementation.

Sources:

  • World Economic Forum press release
  • World Economic Forum: The Green Building Principles and Action Plan
  • Edge: Press release on adopting the Green Building Principles
  • JLL: Press release on adopting the Green Building Principles
  • Avison Young: Press release on adopting the Green Building Principles
  • Ivanhoe Cambridge: Press release on adopting the Green Building Principles
  • Majid Al Futtaim Properties: Press release on adopting the Green Building Principles
  • Schneider Electric: Press release on adopting the Green Building Principles
  • Signify: Press release on adopting the Green Building Principles
  • GPFI Group: Press release on adopting the Green Building Principles

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