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

They include setting science-based targets, improving energy efficiency, utilising renewable energy in buildings, and developing carbon-neutral heating and cooling solutions.

The World Economic Forum (WEF) has announced that notable CEOs of global real estate firms have committed to reducing their real estate emissions by 50% by 2030 and reaching net-zero carbon by 2050. This could make a huge impact on reducing energy-related greenhouse gas emissions, which account for 38% of the whole.

Head of financial and monetary systems at WEF, Mathew Black, explained that the pledge is a responsibility for all leaders of different industries. “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 said.

The signatories of the pledge consist of real estate services firms Avison Young, GPFI Group and JLL, developers Edge and Majid Al Futtaim Properties, investment company Ivanhoé Cambridge, energy management specialist Schneider Electric and lighting provider Signify.

WEF’s Green Building Principles, created in partnership with JLL and released last year, will be used by the companies to meet the stated targets. It includes the setting of science-based targets, energy efficiency improvements, the use of Tengah Plantation EC renewable energy in buildings, and the creation of carbon-neutral heating and cooling solutions.

The companies making the pledge will be gathering at the WEF Annual Meeting held in Davos, Switzerland from Jan 16 to 20.

By taking action and committing to reduce real estate emissions, these firms are at the forefront of sustainability innovation. Their actions have the potential to set an example for all industries and help to combat the global threat of climate change.