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To be an effective platform for change, we must have crucial conversations with the right people committed to making sustainable real estate the industry standard. We've talked in great length, and continue to do so, to industry leaders and stakeholders with skin in the game to understand their challenges and needs.
With these insights, we have crafted the below pillars and topic themes that will be central to the discussions at RENEW. Speakers and partners featuring pioneers and topic experts will take the stage at RENEW to inspire change and spark the conversations that will move the industry towards a sustainable future.
PROGRAMME PILLARS
The pillars of nature & environment, innovation and human capital will provide a starting point on how we can tackle climate challenges in new ways that are both financially attractive and environmentally responsible.
Creating a balance between our built and green environments
Accessing ideas & technologies transforming the industry
Enabling financial and social stability through value creation
TOPIC THEMES
Eight topic themes have been identified to showcase what has already been done in this field, and challenge and promote the possibilities that must be implemented to transform the real estate sector.
1.
CLIMATE ACTION
Design for sustainable real estate means creating buildings and communities that are healthy, efficient, and durable - responding to changing economic, social, and environmental conditions while meeting the needs of current and future residents. It requires an integrated approach to design that considers all aspects of the built environment, from site selection and planning to construction and operations.
Sustainable design also considers the human needs of occupants, including their health and well-being. Using resources efficiently and incorporating features that support occupant health and productivity, sustainable design can create environmentally friendly and economically successful buildings. Designing a building's form and appearance can no longer be isolated. To be considered sustainable development, a delicate balance must develop between a building's structure, function, and interactions with its surrounding environment.
The design must also facilitate sustainable operation during the building life cycle, including its ultimate disposal. While it must be functional and aesthetically superior, the design for the space must achieve long-term energy and resource efficiency.
Topics explored in this theme include: evaluating current and potential climate risks, climate data and forecasting, recycling carbon output, global alignment and benchmarks on emissions, UN Sustainable Development Goals.
2.
GOVERNMENT POLICIES
The public sector has been a driving force behind the innovation of the real estate market, with policies and incentives playing a vital role in market transformation. On 12th December 2015, history was made in Paris when 195 countries agreed to work together to curb global warming substantially.
Clear messages were sent at the international level, with visible momentum underway from European governments passing legislation on environmental due diligence. The Nationally Determined Contributions (NDCs), which are at the heart of the 2015 Paris Agreement, articulate what each country must do to reduce emissions and adapt themselves to the impact of climate change.
The global real estate market should expect increasing regulatory enforcement, enabling countries to improve their NDC commitments to meet the 1.5°C temperature goals and advance sustainability goals in the sector. Real estate owners and investors looking to avoid financial repercussions must consider implementing highly ambitious sustainability policies today, targeting net zero well before 2050, as an investment in future compliance.
Topics explored in this theme include: change drivers, cross-sectoral policies, supporting regulatory systems, regional and international standards, investment and construction regulations, transparent asset appraisal criteria in line with international standards.
3.
DESIGN
Design for sustainable real estate means creating buildings and communities that are healthy, efficient, and durable - responding to changing economic, social, and environmental conditions while meeting the needs of current and future residents. It requires an integrated approach to design that considers all aspects of the built environment, from site selection and planning to construction and operations.
Sustainable design also considers the human needs of occupants, including their health and well-being. Using resources efficiently and incorporating features that support occupant health and productivity, sustainable design can create environmentally friendly and economically successful buildings. Designing a building's form and appearance can no longer be isolated. To be considered sustainable development, a delicate balance must develop between a building's structure, function, and interactions with its surrounding environment.
The design must also facilitate sustainable operation during the building life cycle, including its ultimate disposal. While it must be functional and aesthetically superior, the design for the space must achieve long-term energy and resource efficiency.
Topics explored in this theme include: future-proof design; asset classes; technologies, link to nature, cradle to cradle, life cycle, value of certification.
4.
INVESTMENT & FINANCING
While sustainable real estate isn't a new idea, the perception of climate change's risk has only recently changed, prompting investors to steer money towards safer, higher-performing green assets. More accurate tools and data make it increasingly easier for asset managers and investors to compare properties, portfolios, and performance. In 2020, mutual funds and exchange-traded funds invested nearly $300 billion in sustainable assets globally, nearly double the previous year.
Reducing the uncertainty around energy savings is critical. The investment community must believe the efficiency is meaningful and persistent over time to finance and invest in improvements. Continued focus on baselines and metrics, as well as encouraging best practices for measurement, verification, and monitoring, will reduce the perceived risk and help provide a means for defining the value of high-performance attributes.
Real estate investment decisions are multi-faceted and complex. Different owner classes have differing motivations, and decisions involve numerous stakeholders with both competing and complementary objectives. To be successful, solutions and messaging must highlight value and ROI and address the often-complex interests of the stakeholders.
Topics explored in this theme include: leaders; incentives and policies; financing opportunities; where will the money come from; sustainable real estate funds, discounts, integrations into investment cycle, future profits.
5.
TECHNOLOGY
While technology is not the only factor to consider when developing sustainable real estate, it is an essential piece of the puzzle. More accurate tools and data make it increasingly easier for asset managers and investors to compare properties, portfolios, and performance. By collecting and analysing data, Proptech can help identify opportunities to improve the efficiency of buildings and make them more responsive to the needs of occupants. According to Gartner, over four billion connected IoT devices will be in smart commercial buildings by 2028. These devices powered by telecommunications infrastructures will also have smart utilities for power, waste, and water.
Technology can also enable better communication between stakeholders, fostering transparency and collaboration. Ultimately, the goal is to use technology to create a more sustainable built environment that uses less energy, produces less waste, and has a smaller carbon footprint.
As we move towards a net-zero carbon future, technology will play an essential role in helping the real estate industry achieve its sustainability goals.
Topics explored in this theme include: data, energy usage, carbon capture, efficiency drivers, risks & opportunities in new technologies, improving performance, self-learning technology, water, wind and light energy.
6.
CONSTRUCTION
In recent decades, the construction sector has recognised several trends that provided opportunities to reduce the sector's environmental impact significantly. Modular construction, which uses 67 per cent less energy than traditional methods, allows buildings to be easily adapted throughout their lifecycle while also improving energy efficiency. With construction taking place offsite, deliveries to the site can be cut by up to 90 per cent, reducing emissions.
Reducing waste in the construction process is also another area with a vital financial and environmental opportunity. As much as 32% of landfill waste comes from the construction site, and 13% of materials delivered to a construction site are sent directly to landfills without being used. Construction materials are increasingly reused or recycled instead of thrown away with the sector's transition to a circular economy.
New technology and innovation will continue to grow, providing immense opportunities to track and reduce the construction sector's environmental impact. However, the adoption of these advances rests on the willingness to adapt to the learning curve and the quick implementation of corporate policies and local legislation.
Topics explored in this theme include: innovation; new materials; new ways to build; technologies; techniques; conservation; ecosystems; quality; essence.
7.
HUMAN CAPITAL
Human capital is now widely considered one of the essential factors in determining the sustainability of any real estate asset and a critical driver of value and competitiveness in the real estate industry. Enhancing human capital by investing in technology and emphasising technical and professional expertise could translate into higher levels of training for industry participants, improve labour productivity, and, over time, increase the production and supply of products for real estate.
From a community standpoint, a property with a highly skilled and knowledgeable workforce will generate higher levels of economic activity and create more social value than a property with a less educated and skilled workforce. By attracting and retaining businesses and talent, reducing energy consumption, and improving financial stability, human capital can help to create lasting value for a community. By considering the human element of sustainable real estate ventures, developers and investors can develop projects that generate lasting social, economic, and environmental benefits.
Topics explored in this theme include: collaboration; location = connection; behavioral science; future society; data; quality of life; resilience; air.
8.
NET-ZERO
Net-zero may be a lofty goal for the real estate industry. Still, it's one that more and more developers are aiming to achieve, with demand increasing from an ecosystem of tenants, owners, policymakers, and investors. Real estate needs to accomplish both net-zero operational carbon by 2030 and net-zero embodied carbon by 2050 across the whole life cycle. All actors must use consistent, comprehensive, and appropriate schemes to enact meaningful change and perform a clear role in guiding industry activity.
Net-zero buildings currently account for only 1 per cent of buildings in the world. But they are a pathfinder for the sustainable real estate industry towards a more equitable economic paradigm in real estate. This ideal paradigm meets market demand and has equal regard for the planet, people, and profit. The net-zero concept is closely related to the net-positive idea, which goes beyond the idea of net-zero to include positive impacts on people and the environment. While net-zero is laudable, net-positive is the ultimate destination.
Topics explored in this theme include: absolute zero; performance; energy; balance; giving back; education; community; local food.
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