The real estate industry has begun to place more emphasis on responsibility and social goals.

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CHICAGO, June 21, 2021 / PRNewswire / – With the demand for greener, more sustainable places, exacerbated by the current pandemic, occupiers, investors and city officials are more than ever ready to commit to tackling climate change. According to JLL (NYSE: JLL) new research, Responsible real estate – decarbonisation of the built environmentThis decade is a pivotal time for decarbonising the real estate industry and improving its health in the future. However, translating good intentions into achievable goals will require partnerships and transformative thinking.

“The real estate industry is in the spotlight. We cannot go to a zero carbon planet without changing the purpose of our buildings. So what’s our answer – can we build a better future for our communities and our world? The only way is to create a commercial investment model that takes into account environmental and social impacts, “said Guy Granger, Global Head of Sustainable Development Services and ESG. “This requires a change of mindset and closer collaboration between building owners and tenants.”

Raised expectations and key drivers
Senior executives from some 650 of the world’s top tenants and investors surveyed by JLL say green spaces are their top priorities. Occupiers are taking a transformative approach to reducing carbon emissions by building resilience into their business models, with 89% saying resilience is becoming increasingly important to their corporate strategy. Real estate investors believe decarbonization can provide value and competitive advantage. This is particularly the case for leading investors who invest in a wide range of complex strategies and align decarbonisation strategies with investment strategies.

The increased focus on sustainable development is driven by many factors. On the one hand, top tenants and investors are ahead of politicians in their ambitions because they believe decarbonization is what their employees, clients, tenants, communities, and the entire planet need to do. Invaders and investors want to see stronger partnerships, as well as a bolder stance from the government of the country and the city.

Secondly, it is very important to act responsibly. A JLL study found that 83% of property owners and 78% of investors believe climate risk is a financial risk. For both tenants and investors, the myriad free and low-cost options can be a game changer and improve operational efficiency and bottom line. Conversely, the downside of inaction is now too strong, and few consider inaction viable.

Factors contributing to and hindering the achievement of the Sustainable Development Goals
The JLL report identified several key factors and barriers to consider on the road to net zero carbon emissions. One of the major hurdles is that the demand for eco-friendly real estate options, such as zero-net-zero buildings, is outstripping supply. The current supply may not be sufficient to meet the ambitious targets set by the tenants, and the imbalance may widen if new buildings are not introduced to the market. As supply exceeds demand, the opportunity to retrofit buildings is significant. However, the age and obsolescence of buildings, as well as inadequate urban infrastructure, are serious problems.

Technology is a key factor in the transition to zero. Data is the biggest catalyst for green progress, as advanced data processing capabilities provide opportunities for continual improvement driven by real-time analytics and automated decision making. However, most investors (55%) and tenants (50%) describe their current data and measurement capabilities as “developing”. There is significant opportunity to close the digital divide and invest in technology as dependence on data will grow in the future, fueled by demands for greater transparency and accountability.

A roadmap to responsible real estate
Real estate can play a critical role in helping tenants and investors reduce their carbon footprint and meet their carbon footprint. As investors and tenants recognize the role they must play in reducing carbon emissions, environmental intentions are being translated into ambitious sustainable development goals. Real estate has a wide range of possibilities to smooth the climate curve. However, unlocking the value behind these goals requires a well-planned approach.

“This data shows that organizations have been proactive in setting climate targets, but the reality is that they have not yet started,” Granger said.

A key component to accelerating the decarbonization process is the partnership ecosystem. JLL’s research shows that 81% of tenants and investors agree that strong partnerships between cities, tenants and investors are essential to achieving a zero-carbon agenda. By leveraging the ecosystem, governments, businesses, investors, and communities can more easily innovate and scale, bridging the gap between intention and action.

JLL’s road to sustainability
In 2020, JLL has set a scientifically based goal of reducing emissions by 2034, and is also committed to achieving zero net emissions from its own buildings by 2030. These commitments are milestones that will enable the company to achieve net zero by 2040 in all areas of its operations. including the client sites it manages.

About JLL
JLL (NYSE: JLL) is a leading professional services firm specializing in property and investment management. JLL is shaping the future of real estate for a better world by using the most advanced technology to create lucrative opportunities, stunning spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is Fortune 500 with annual income $ 16.6 billion in 2020 operations in more than 80 countries and a global workforce of more than 91,000 people as of March 31, 2021… JLL is a trademark and registered trademark of Jones Lang LaSalle Incorporated. For more information visit jll.com

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