Tag Archives: carbon reduction

Decarbonizing real estate: Why businesses are on-board

0 CommentsBy

In the business world, a growing number of companies are recognizing climate change as a present or future risk. According to a report by the Center for Climate and Energy Solutions, 90 percent of the multi-national, blue chip companies on the Standard and Poor’s Global 100 Index identify climate change as a major risk to business. Their major concerns include damage to assets and facilities, failure of critical infrastructure, higher costs and disruption to supply and distribution chains. Resiliency is becoming a cornerstone of future-proofing businesses, as well as essential to remaining competitive.

The concept of resilience can be viewed through two lenses: mitigation and adaptation. Mitigation aims to curtail climate change by reducing or offsetting greenhouse gas emissions. Adaptation purposes to limit one’s own vulnerability to the impacts of climate change without necessarily addressing the underlying causes. The paradox with real estate is that climate change affects the resiliency of buildings just as buildings largely contribute to the problem of climate change. The building sector alone accounts for nearly 40 percent of carbon emissions in the U.S. per year.

Even as industry traditionally tends to favor less rather than more regulation, nevertheless some of the world’s largest corporations are pushing for more aggressive climate change mitigation through government policies and market mechanisms. In a “Business Manifesto” presented at Davos in 2015, for example, executives from Unilever, KPMG, Philips and others called for world leaders to design a new architecture for sustainable development based on transparency, accountability and market forces.… Read More

Mandatory disclosure programs (and why they work)

0 CommentsBy

As cities expand and multiply, their citizens and infrastructure are greatly affected by the environmental risks and associated costs of climate change. For this reason, many cities and some states are requiring that the energy performance and/or carbon emissions of buildings be disclosed. These mandatory disclosure programs have been so successful in reducing carbon emissions that a growing number of states, counties and cities are now adopting them.

How mandatory disclosure programs operate

Typically, these programs require annual disclosure for commercial and sometimes multi-residential buildings over a certain size. In New York City, for example, the policy applies to buildings over 50,000 square feet. These buildings constitute only 2 percent of New York City’s buildings, but account for 50 percent of the total floor area of commercial buildings. The relatively small number of buildings makes the program manageable, while the large floor area that they represent can make a significant impact. Many U.S. cities have set ambitious goals. Portland, Ore. set a goal of cutting carbon emissions by 80 percent by 2050. Atlanta projects that its ordinance will drive a 20-percent reduction in energy consumption by 2030.… Read More

Confirming our climate change position after COP23

1 CommentBy

The climate change battle has elicited a wide range of reactions by companies and individuals engaged in climate mitigation and sustainability measures. While some are showing fatigue after many years of uphill struggle, others have stepped up their engagement in order to fill the gap some national governments and institutions have left behind.

JLL is part of the latter group that is committed to finding solutions to this imperative global challenge. JLL recently signed the We Are Still In declaration, a U.S. climate action movement launched in June 2017. The declaration’s more than 2,500 signatories, including U.S. business leaders, governors, mayors and NGOs, represent the nation’s enduring promise to uphold the Paris Agreement despite the federal government’s withdraw from the accord earlier this year.

In October 2017, JLL published its own Climate Change Position Statement in the run-up to the COP23 global climate summit. The United Nations Environment Program estimates that buildings are responsible for one-third of greenhouse gas emissions that cause global warming. JLL’s Climate Change Position Statement acknowledges that the real estate industry has a responsibility to reduce global emissions by helping our clients, employees, workplaces and communities mitigate and adapt to climate change and significantly reduce their energy consumption. This position closely aligns with JLL’s sustainability leadership agenda, Building a Better Tomorrow, which … Read More

Outcomes of COP23 Global Climate Summit

0 CommentsBy

Against a backdrop of newly rising greenhouse gas emissions in 2017, the world’s nations met in Bonn, Germany in November for the 23rd annual “conference of parties” (COP) under the United Nations Framework Convention on Climate Change (UNFCCC).

After the landmark Paris Climate Agreement two years ago, this year’s summit agenda focused on process-oriented negotiation points. The Agreement’s signatories now need to define how to implement the target of limiting global temperature rise to well below 2 degrees Celsius (3.6 degrees Fahrenheit) by the end of the century.

These detailed processes will be written down in the so-called Rulebook, an operational handbook that defines technical and administrative tasks. Examples include how countries set and transparently report on their carbon reduction pledges and how they track their climate adaptation efforts.

In contrast to some of the previous summits, preparatory work in the run-up to the Bonn conference had not yielded more than a few “informal notes” that served as starting points for the negotiations. In the end, however, there have been some achievements:… Read More

Financial and sustainability win — with wind

0 CommentsBy

JLL provides a renewable energy solution for Intuit’s Global HQ that is set to save $1 million in energy costs.

More than three decades ago, Intuit developed personal finance software to help families balance their budgets. Today Intuit’s mission is to power prosperity around the world. The company serves more than 42 million customers including consumers, small businesses and the self-employed. Within the company’s ecosystem of innovative financial management solutions, its flagship products include QuickBooks® and TurboTax®.

As Intuit has grown, its commitment to using the company’s position to being a good corporate citizen has remained. Being good stewards of the environment is at the core of the company’s values, and sustainability is considered in decision making company-wide.

In 2016, Intuit sought an offsite renewable energy solution to power the company’s global headquarters in Mountain View, California. With less than ten years remaining on the lease of the 188,000-square-foot Mountain View campus, Intuit wanted to obtain three megawatts of 100 percent renewable energy with a direct access contract that ensured a scheduled, known price — but without extending an agreement beyond the terms of their lease.

It was a unique case in the market. Most power purchase agreements are for longer terms — at least 15, and usually 20, years — and for larger energy purchases needed by locations that require considerably more power. Intuit’s request was highly unusual. While the lease term was too long for a typical direct access agreement, it was too short for a typical power purchase agreement. Most developers told them it was an impossible request to fulfill.

Intuit turned to JLL’s Clean Energy team to secure a cost-neutral solution that was all-inclusive from the point of electricity generation to the door of Intuit. … Read More