Source:World Economic Forum
- Real estate has a key role to play in the race to net zero.
- Only a minority of real-estate organizations have a sustainability action plan.
- JLL and the World Economic Forum’s 10 Green Building Principles establish a sustainability framework for the industry.
Net zero commitments have surged this year as cities, investors, businesses and educational institutions signal their intent to help create a more sustainable future. This shared ambition, boosted by the UN’s Race to Zero campaign, indicates that we are moving in the right direction. But we need more. Next year must be when we turn talk into tangible action plans.
Real estate and the built environment – responsible for close to 40% of global carbon emissions – have a significant role to play. JLL’s Decarbonising the Built Environment report found that only 18% of organizations have an action plan for their real estate portfolio. While much attention is focused on new, state-of-the-art buildings that achieve the highest sustainability certifications, 70% of buildings that exist today will still be here in 2050, highlighting the need to repurpose spaces, retrofit older buildings and refurbish in line with circular economy principles.
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Companies needed a roadmap to get their real estate to net zero carbon emissions. Now they have one. To guide real estate investors and occupiers on implementing and achieving their net zero carbon targets across their portfolios, JLL has partnered with the World Economic Forum to establish 10 Green Building Principles. It also complements existing initiatives, for example by explaining what companies need to do to deliver against the WorldGBC Net Zero Carbon Buildings Commitment.
The 10 Green Building Principles cover five key areas: