The real estate sector, a notable contributor to global carbon emissions, is embracing smart, sustainable solutions to mitigate climate change risks. Key to this transformation are the Green Building Principles aimed at getting real estate to net zero, which provide a robust framework for reducing the environmental impact of buildings while enhancing operational efficiency.
Buildings are responsible for a significant portion of city emissions, and considerable reductions are required to meet international climate targets. Projections suggest that emissions from cities could be cut by about 90% by 2050 using proven technologies and practices, particularly for buildings and infrastructure. The World Green Building Council has defined green buildings as structures that, from design to operation, reduce negative and create positive impacts on the climate and natural environment. These buildings are not only constructed with sustainable materials but are also designed to be energy and resource-efficient, even capable of producing their own energy.
The smart integration of technology is pivotal to this shift. By 2028, it’s anticipated there will be over four billion connected IoT devices in commercial smart buildings, enhancing the management of power, waste, and water. These buildings will become part of the urban fabric, evolving from mere structures to becoming interactive environments that augment the quality of life for their occupants. This transformation includes adopting a ‘pay as you go’ and ‘pay as you grow’ revenue model for office spaces, improving both experience and productivity.
Furthermore, sustainable construction, smart technology, and optimal data utilization are reducing the consumption of energy, materials, and other resources. Smart buildings, by virtue of their adaptability, can reconfigure to meet changing conditions, offering digitally enabled services and using data-driven insights to enhance building performance and sustainability. These advancements are changing the value proposition of buildings to support user outcomes more sustainably in a world increasingly shaped by remote work and digital interaction.
The Canadian real estate sector’s commitment to these smart solutions reflects a broader global imperative, where real estate companies are no longer just building or refurbishing spaces but are creating dynamic, adaptable, and resilient environments responsive to the challenges posed by climate change.
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