Understanding the Sustainable Real Estate Development Imperative
In an era when climate change is a lived reality, the focus on industries’ environmental impact is more pertinent than ever, and the time for real estate leaders to act is now. Often, we look towards sectors like transportation and agriculture as the primary contributors to carbon emissions. However, the reality is that the real estate sector plays a significant role in the environmental equation. 40% of global greenhouse gases are attributed to buildings. These emissions stem from their construction materials like cement and steel and are amplified by their operational demands, such as commercial and residential use.
Navigating the Climate Challenge
Canada’s seasonal shifts generate high demand for heating and cooling, further increasing buildings’ environmental footprint. With most buildings destined to stand for decades, the call for sustainable, low-carbon buildings has grown substantially due to the regulatory landscapes. This is a fundamental shift driven by investor, tenant, and societal demands for greener living and working spaces. The COVID-19 pandemic exposed the need for this transformation, revealing a disproportionate decrease in energy consumption relative to reduced building occupancy.
The Road to Net-Zero: Strategizing Carbon Neutrality
Achieving carbon neutrality through offsets is a step in the right direction. However, it still requires a strategy that significantly reduces emissions before considering offsets—representing a more robust commitment to combating climate change. This approach is vital for the environment and as a strategic component of risk management and investment longevity in real estate. The journey towards net-zero carbon is complex, necessitating innovative solutions and financing mechanisms to alleviate the initial costs of transitioning.
A Partner in Sustainability
In the face of the undeniable risks associated with inaction, both financial and physical, the question is not whether we can afford to invest in decarbonization but whether we can afford not to. Canderel’s commitment to sustainability represents an operational philosophy and a strategy for growth and competitiveness in a rapidly evolving market. Canderel stands at the forefront of this shift, embodying the change we aspire to see in the real estate industry.
With the introduction of our Road to Net-Zero (RNZ) initiative, we are leading the decarbonization conversation. RNZ offers an end-to-end solution, leveraging our consortium of experts across property management, sustainable development, finance, and construction to provide tailored decarbonization strategies. This comprehensive approach ensures that our clients and the industry can navigate these waters easily.
The future of real estate hinges on our ability to act effectively. As the industry evolves, so does the definition of value, with sustainability and low-carbon initiatives becoming critical determinants of a property’s appeal and market worth. At Canderel, we are setting a new standard, demonstrating that sustainable development and profitability are not mutually exclusive but mutually reinforcing.
It’s time to take a step forward into the new era of commercial real estate.
Contact Senior Vice President, Property Management, Martine Theriault today to learn how Canderel can reinvigorate your property management strategy: mtheriault@canderel.com
