Winter Issue 2022 - 62
How do buildings use energy?
The U.S Department of Energy estimates
that energy use in buildings currently
breaks down this way:
25%
10%
10%
10%
9%
7%
7%
5%
3%
I don't think my tenants would want
to give up any of those items. Is it
even possible to cut our emissions
by a significant amount?
It is not just possible; it it already happening.
Members of the ULI Greenprint
Center for Building Performance, a
consortium of the world's leading real
estate owners, investors, and strategic
partners, have reduced their 11,991 properties'
use of energy, carbon, water, and
waste by 3 percent a year for 10 years in
a row, putting them on track to reduce
their collective greenhouse gas emissions
by 50 percent by 2030 and reach
net zero carbon by 2050. The fact that
they manage $1.3 trillion in assets and
2.92 billion square feet (214 million sq
m) of space in 30 countries suggests that
their success is not a fluke.
demand from occupiers, you can get a
building to be very energy efficient without
needing to see that uplift in demand
from occupiers. "
For Simone Pozzato, fund manager for
the environmental, social, and governance
(ESG) award-winning Hines European
Core Fund, tenant relationships are the
key. In an email, he suggested following a
three-step program:
Establish a good partnership with your
tenants. Enter into a trusting relationship
where they will share their energy-consumption
data and behaviors with you.
Once consensus is reached, establish
25%
13%
Space heating
Lighting
Refrigeration
Ventilation
Space cooling
Cooking
Water heating
Computing
Office equipment
Other
Total energy use: 6,963 Btu
Source: U.S. Department of Energy.
What can I do to begin
decarbonizing my real estate
portfolio?
" There is a lot that can be done to get
you on that journey, which we put in
the low- and no-cost measures bucket
-things like lighting upgrades, HVAC
improvements, even putting solar panels
on roofs, " says Abigail Dean, head of
sustainability for Nuveen. " Whilst you
might not be able to get a building to net
zero carbon without there being a clear
smart metering and monitor patterns and
data flows.
Take action. Suggest ways to:
reduce consumption: activity
hours, inefficient processes, and
additional stress on the network.
implement capex where cost/benefit
will be more effective: monitoring
and evaluation systems,
insulation, energy production
(solar panels).
propose pre-agreed/negotiated
packages with renewable energy
providers.
The key is step one: establishing a
trusting relationship. Without this, nothing
can follow. UL
BENNETT VOYLES is a Berlin-based business writer.
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URBAN LAND
WINTER 2022
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Winter Issue 2022
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