GRESB is the environmental, social, and governance (ESG) benchmark for real estate portfolios and assets. GRESB now includes embodied carbon disclosure. This article provides an overview of carbon footprinting issues in the real estate sector.
Developing a truly representative carbon footprint for the real estate sector has been something of a challenge for the industry. Recent pushes from the bigger players have both served to highlight the trials ahead, as well as provide much-needed leadership for change.
Making comprehensive and substantial reductions in greenhouse gas (GHG) emissions throughout the sector is, however, still a daunting prospect. It is common knowledge that existing properties are in urgent need of mass-retrofit to reduce energy consumption, however, the carbon emitted to complete this must be duly considered when assessing the carbon impact of properties.
Revolutionizing current practice and decreasing overall emitted carbon, needed to achieve the targets expected from the sector, will require pressure from those at the top of the food chain to transform the design and manufacturing standard in the sector.