The Jones Lang LaSalle (JLL) team reports that the private sector, particularly global real estate firms, has been taking action to meet the targets set by the Paris Agreement. Though many world governments have not committed enough to meeting these targets, the built sector is acknowledging that it is responsible for over 40% of global greenhouse gas emissions and taking steps toward reducing that usage.
The writers point out that achieving the Paris Agreement targets will take “rapid, far-reaching changes in all aspects of society” from 196 signing countries. A recent report prepared by the Urban Land Institute’s Greenprint Center for Building Performance showed that its members’ properties are on track to reduce their greenhouse gas emissions by 50% by 2030, which is “well ahead of schedule” by the Paris targets.
JLL staff note that companies’ top approach to reducing emissions has been through energy efficiency initiatives. Property owners are improving HVAC systems, using more efficient lighting, developing better infrastructure, and adjusting energy usage.