As cities grow and more people move into them, there is an increasing amount of what is called “grey infrastructure.” This is basically all the concrete and steel buildings that you see in an urban area. While this type of development is necessary, it can also be really detrimental to the environment.
Oftentimes, people neglect green spaces when they make the shift to an urban lifestyle because of the other amenities that cities offer. However, it is essential for real estate developers to at least aim for green infrastructure in the future so that people can have access to these spaces. This is important for sustainable living.
As the population continues to grow, the amount of land available for homes, businesses, and other development shrinks. This increase in demand for real estate has spurred rapid development, often at the expense of the environment. In fact, the real estate sector is responsible for a large portion of global carbon emissions, water usage, and pollution.
Without stricter regulations, it is likely that the environmental impact of real estate development will only continue to rise. This could have disastrous consequences for the planet and future generations. As such, it is essential that we act now to protect our environment from further damage.
People Want to Go Green
Sustainability is no longer a trend; it has become a requirement for conscious consumers. Various professional sports leagues have formal sustainability initiatives, and a recent survey by Nielsen showed that 81% of consumers believe companies should have environmental improvement as an objective.
The awareness for green building really started to take off in the early 1990s but didn’t reach widespread attention until almost a decade later. It was always seen as something special and set the bar high for other buildings. Nowadays, it has become the norm to have some sustainability in dwellings and commercial buildings. In fact, some governing organizations are requiring resource-efficient measures to be put into place.
Role of Government in Reducing the Risk of Climate Change
The government needs to take climate change seriously in order to protect real estate. By taking measures to reduce the risk and put policies in place to adapt to the changing climate, the government can help protect real estate from the dangers of climate change.
There are many ways that the government can help fight climate change, but one of the most important is using its money and resources to collect data related to the issue. This will help analysts understand the real estate market and how climate change is affecting it. With this knowledge, policymakers can devise strategies to combat the issue.
Role Of Property Developers and Investors in Mitigating Climate Change
As a developer, we can do our part to fight climate change by using eco-friendly construction materials in our projects. Some of the materials that can be used are eco-friendly and can help to lower the carbon footprint of a building. By using these materials, we can help make a difference in the fight against climate change.
Developers who are looking to save on energy costs and do their part to fight climate change can use energy-efficient designs. These designs can help lower the cost of energy and protect the environment. Some of the ways developers can achieve this are by using solar panels, wind turbines, and other renewable energy sources.
Human activities have increased the amount of greenhouse gases in the atmosphere over the last 150 years. Buildings are responsible for approximately 37 percent of these emissions, which make up 28 percent of energy-related emissions. Additionally, 8-9 percent of emissions come from building materials.
Real estate is a type of investment that will be influenced quite a bit by climate change. This shift poses both difficulties and advantages for those in the field. Because real estate investment takes a long time, those involved have the chance to adapt slowly to the changes and take advantage of the new opportunities that come with investing in sustainable buildings that are eco-friendly.
By making changes to the way our buildings are run and constructed, we can have a large impact on the future. If done correctly, new buildings can be built to be so efficient that they have no net emissions from running energy. In some cases, they can even produce clean energy. This could potentially reduce emissions by 28 percent. We can also cut embodied emissions in half by using the right materials.
So, buildings do play an important role in saving our planet. The question is, who is going to reveal this prospect? Many believe that commercial establishments like offices and malls should be built and held as investments by the real estate industry. Real estate developers often invest in designing and constructing multi-family housing in India. So yes, the real estate industry has a possible role to play in tackling climate change and saving the planet.
(By Avneesh Sood, Director, Eros Group)