CEOs of firms including JLL and Ivanhoé Cambridge and Avison Young have pledged to reduce their real estate emissions by 50% by 2030 and reach net-zero carbon no later than 2050 (Picture: Pedro Lastra/Unsplash)
SINGAPORE (EDGEPROP) - CEOs of global real estate firms have pledged to reduce their real estate emissions by 50% by 2030 and reach net-zero carbon no later than 2050, according to a press release by the World Economic Forum (WEF). The organisation is holding its annual meeting in Davos, Switzerland from Jan 16 to 20.
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Buildings contribute 38% of all energy-related greenhouse gas emissions, notes Mathew Black, WEF’s head of financial and monetary systems. “Leaders across all industries have a responsibility to take action on their real estate greenhouse gas emissions to ensure progress in the fight against climate change,” he says.
Signatories to the pledge include real estate services firms Avison Young, GPFI Group and JLL, developers Edge and Majid Al Futtaim Properties, and investment company Ivanhoé Cambridge. Energy management specialist Schneider Electric and lighting provider Signify also signed the pledge.
The firms will meet the targets by implementing WEF’s Green Building Principles. Developed in collaboration with JLL and released last year, the report outlines a sequence of steps to deliver net-zero carbon real estate portfolios.