{"id":1004450065,"date":"2020-05-21T11:47:14","date_gmt":"2020-05-21T19:47:14","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004450065"},"modified":"2020-05-26T09:12:09","modified_gmt":"2020-05-26T17:12:09","slug":"public-private-collaboration-targets-decarbonization","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/public-private-collaboration-targets-decarbonization\/","title":{"rendered":"Public-Private Collaboration Targets Decarbonization"},"content":{"rendered":"
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Monika Henn, manager of the ULI Greenprint Center for Building Performance. Image courtesy of ULI<\/em><\/p><\/div>\n

\u201cDecarbonizing the Built Environment: 10 Principles for Climate Mitigation Policy,\u201d a new report from the Urban Land Institute, marks a milestone in the collaboration between the public and  private sectors to achieve decarbonization of the built environment.<\/p>\n

According to Monika Henn, a manager at the ULI Greensprint Center for Building Performance, the issue of decarbonization is critical in the commercial real estate sector, which is responsible for up to 40 percent of global emissions.<\/p>\n

The two major roadblocks to the decarbonization of commercial buildings, Henn explains, have been cities generating support among the private sector for their policies and finding and engaging the correct stakeholders and taking into account their recommendations: \u201cIf you have a national portfolio or an international portfolio, just keep track of what different cities are doing,\u201d<\/em> Hann said.<\/p>\n

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READ ALSO: <\/strong>3 Trends Reducing the CRE Carbon Footprint<\/a><\/p>\n

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To that end, early this year, ULI held a series of three workshops\u2014attended by more than 60 private and public sector leaders\u2014chaired by Brian Swett, Boston office leader at international design firm ARUP. Swett brought years of experience in sustainability issues in past roles a developer at Boston Properties and as chief of environment and energy for the city of Boston.<\/p>\n

The intent of the workshops, he explains, was to place stakeholders on the same side of the table for \u201ccandid, transparent, and honest\u201d conversations about real estate\u2019s needs from cities to decarbonize the built environment and about city officials\u2019 needs from real estate executives to formulate, deliver and enforce city policies.<\/p>\n

The workshops were attended by a wide range of cities\u2014among them New York City, San Francisco, New Orleans and Kansas City\u2014representing various regions,  sizes and levels of engagement with real estate on climate issues. The workshops also brought together a diversity of real estate players by property type and location, including LendLease, Jamestown, PGIM Real Estate, Brookfield Properties, Kilroy Real Estate Corp. and Boston Properties.<\/p>\n

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Brian Swett, Boston office leader at ARUP. Image courtesy of ARUP<\/em><\/p><\/div>\n

At the outset, Swett stated, \u201cThe direction of travel is net carbon neutrality for our built environment, and the question is how do we get there? What\u2019s the most cost-effective, least economically disruptive way to get to net carbon neutrality by mid-Century?\u201d<\/em><\/p>\n

From the workshop, 10 key policies were formulated across processes, policy and performance. A key aspect is making sure that a city is willing and able to listen to real estate representatives\u2019 concerns about how targets get delivered.<\/p>\n

Another key takeaway is to make sure that what gets measured and reported on is as close to a real metric as possible. For example, the industry is transitioning to carbon as metric versus the past proxy of energy efficiency, which was regulated in building codes. \u201cThe other key principle was forming the key advisory group of private sector real estate and not just using them for the policy, but this is also your vanguard group for implementation.\u201d<\/em><\/p>\n

Collaboration Is Key<\/strong><\/h2>\n

Swett went on to say he hopes that collaboration rates between the private sector and public sector\u2014currently based in conversations about how to shut down and how to reopen for COVID-19\u2014will intensify and double down around climate change. \u201cThere are clearly links between climate change and pandemics in the sense that we expect more of these going forward,\u201d<\/em> he said, adding that \u201cit\u2019s about our ability to be resilient to them and respond to them.\u201d<\/em><\/p>\n

According to one participant, Eric Duchon, managing director and global head of sustainability at LaSalle Investment Management, the goal of these workshops \u201cwas to understand what these cities were thinking and how we as a real estate industry\u2014owners, managers, and developers\u2014can work with them to achieve meaningful outcomes but also make it relatively easy for us to comply with the myriad of different ordinances that are around the country.\u201d<\/em><\/p>\n

Because large asset managers such as LaSalle\u2014which has $21 billion of assets under management\u2014invest institutional capital, they must work to achieve the outcomes of the Paris Climate Agreement, Duchon said. \u201cIf one of our investor\u2019s goals in their climate action plan is that all of their investments need to be aligned with the Paris agreement by 2030, they look to us to achieve that,\u201d<\/em> he explained. \u201cSo we\u2019re sitting here balancing investment performance, our carbon footprint and local regulatory compliance. It\u2019s a tricky thing to juggle. It\u2019s a constant evaluation of how to achieve those three things in tandem with each other,\u201d<\/em> Duchon added.<\/p>\n

Two important points that both the public and private sector should bear in mind, according to Swett<\/p>\n

Both the public and private sectors should bear in mind two important points, according to Swett. First, the focus of sustainability has been on new buildings in the past \u201cbut it doesn\u2019t move the needle,\u201d<\/em> Swett noted. \u201cWe can design zero net carbon buildings today given almost any economic constraints. This is not a technical challenge; this is an economic and political challenge, because the reality is, plus or minus in any given city, 85 percent of the built environment\u2014the square footage that we will have to deal with by mid-century\u2014is already with us today.\u201d<\/em>  <\/p>\n

Secondly, while the decarbonization of the existing building stock may feel like a long game when talking about 2050, major renovations of existing buildings are right around the corner, Swett pointed out. \u201cWe cannot miss opportunities to upgrade our buildings and decarbonize them,\u201d<\/em> he said.<\/p>\n","protected":false},"excerpt":{"rendered":"

ULI Greenprint provides principles for the real estate industry and policymakers to decarbonize the built environment by 2050.<\/p>\n","protected":false},"author":887,"featured_media":1004450077,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[23891,21786],"tags":[35449,49450,49447,33395],"class_list":["post-1004450065","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national","category-sustainability","tag-arup","tag-brian-swett","tag-monika-hann","tag-urban-land-institute"],"acf":[],"yoast_head":"\nPublic-Private Collaboration Targets Decarbonization - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/public-private-collaboration-targets-decarbonization\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Public-Private Collaboration Targets Decarbonization\" \/>\n<meta property=\"og:description\" content=\"ULI Greenprint provides principles for the real estate industry and policymakers to decarbonize the built environment by 2050.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/public-private-collaboration-targets-decarbonization\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2020-05-21T19:47:14+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-26T17:12:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/05\/hexagon-3392236_1920.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Sibley Fleming\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/public-private-collaboration-targets-decarbonization\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/public-private-collaboration-targets-decarbonization\/\",\"name\":\"Public-Private Collaboration Targets Decarbonization - 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