According to the United Nations’ 2021 Global Status Report for Building and Construction, the operation of buildings is responsible for 27% of all energy-related CO2 emissions worldwide. Also, this figure increases to 37% when building construction is involved.
As a result, the real estate industry is crucial for reducing worldwide CO2 emissions.
For the same, retail real estate owners in the US are adopting innovative solutions to become more sustainable. Their goal is to minimize the environmental impact, while also saving money and improving the health and well-being of tenants, employees, and customers with sustainable real estate.
Here are some examples of the actions retail real estate owners in the US are taking to be more sustainable:
- Reducing energy consumption: Many retail real estate owners are taking steps to reduce their energy consumption, such as by upgrading to energy-efficient lighting and appliances and installing solar panels.
- Water conservation: Some retail real estate owners are implementing water-saving measures, such as low-flow toilets and irrigation systems that use recycled water.
- Recycling and waste reduction: Many retail real estate owners are making an effort to recycle and reduce waste, such as by separating recyclables and compostables and implementing programs to reduce packaging.
- Green building: Some retail real estate owners are building new developments using green building practices, such as using sustainable materials and designing buildings to be energy-efficient.
- Innovative transportation: Some retail real estate owners are promoting alternative modes of transportation, such as providing bike racks and encouraging employees to use public transportation or carpool.
These actions are driven by the following motivations:
- Financial benefits:
- Sustainability measures can save money in the long run by reducing energy and water consumption, as well as reducing waste and the need for maintenance. For example, if you are based in Tucson, and wanted homes for sale dallas tx, of course choosing the houses with sustainable measures will profit your living that is ideal for laying a solid foundation for a smart home and increasing its value from the start.
- Environmental responsibility: Many retail real estate owners recognize the impact that their operations have on the environment, and are taking steps to minimize this impact by planting more trees and creating in-house gardens.
- Customer and employee satisfaction: Sustainability efforts can improve the health and well-being of tenants, employees, and customers, which can in turn lead to increased satisfaction and loyalty.
- Public image: Retail real estate owners are also motivated by the desire to improve their public image and reputation by demonstrating a commitment to sustainability.
However, in such cases, Motivations, no matter how strong, do not hold their ground if not supported by the regulatory bodies.
Fortunately, the government is playing at the forefront and doing its best to drive better adoption of sustainable practices. For example, Local Law 97, which New York City passed in April 2019 and which imposed energy efficiency and greenhouse gas limitations on buildings above 25,000 square feet, is a recent government action. The National Conference of State Legislatures also published an examination of state-building efficiency laws in September 2021.
For sure, in the future, more tenants will demand sustainable retail real estate, and more governments will demand sustainable buildings. And it will be retail asset owners with sustainable thought, who will be ahead of the curve in estimating these demands. The rest of the industry will undoubtedly have to invest and adapt to achieve paralleled longevity.
One company that is proactively building sustainably designed mixed-use real estate properties is Homz. With 50 wellness-focused mixed-use communities, Homz is building branded, and well-connected living experiences at more attainable prices across America.
In addition, Homz is also employing the design, construction, and operation of buildings and other real estate assets in a way that minimizes their environmental impact and maximizes economic and social benefits.
