Real Estate
In the country
Climate crisis?
Real estate should be the locomotive that leads to change
The future of offices in Israel and around the world goes hand in hand with the environment, and the danger is of an occupancy crisis that may exist on the part of huge companies in front of property owners who do not meet the standards.
Israel, as usual, is lagging behind.
opinion
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Offices
Ziv Shor, Guest Column
Sunday, 31 October 2021, 08:25 Updated: 09:07
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Drastic change requires small, controlled steps that will begin the required shift. When it comes to looking at global green construction in the industry, with a spotlight on the field of offices - the global discourse is already there but Israel is still lagging behind. There is a clear need to stop looking at the issue of sustainability as a luxury and make it a permanent standard in all areas of construction.
With 40% of global carbon dioxide (CO2) emissions in the world related to real estate, and about 30% of global energy consumption also related to the field, warning flags are giving their signals. Expanding to various destinations around the world with their own office towers and over the years this status symbol may continue to accelerate. The SBTI Convention Their signatures are close to 2000 and include the largest companies in the world, in just the last year more than a thousand companies have joined this convention, more than all the companies that have signed in the five years since the convention was co-founded.
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Too much waste, less consideration for citizens.
Office buildings in Tel Aviv (Photo: Reuven Castro)
The profit is double
Ziv Shor (Photo: JLL)
What does this step mean? Contrary to the blue-and-white statements we hear from time to time about setting goals and taking pride in climate programs to combat this crisis, organizations are taking the reins of the environment into their own hands. Many companies around the world will not want or will be able to enter assets that do not meet the carbon emission reduction targets they have committed to and companies that do not adapt will find it irrelevant to the labor market both in terms of attractiveness and work with customers who do not want to work with companies without ESG policies. social governance).
Furthermore, in order to meet the objectives of the Paris Agreement in order to minimize the existing damage by the countries of the world - various countries are promoting legislation that will require a reduction in carbon emissions - which will require property owners and all those involved to make adjustments by reducing energy consumption. Permits. That is, regulation is going to be a significant and binding factor towards property owners and tenants.
The long-term profit is double. The aspiration of many countries to achieve zero net carbon emissions and beyond the resulting values gives rise to the workplace (low carbon) re-friendly to the earth an action that makes it a vital business priority. In addition, according to the UN Global Compact, companies that make climate awareness part of their business can increase their sales by up to 20%, and reduce employee turnover by up to 50%. Green offices are increasingly valued by consumers and investors, and for workers it has been proven that sustainable workspaces improve well-being and increase productivity. While the overall impact of carbon depends largely on exterior construction characteristics, interior fitting of a carbon door significantly enhances the office's environmental impact throughout its life, not only by reducing waste during construction, but through design that minimizes emissions and uses furniture and materials from local sources. Sustainable.
In the battle over what is desired, which is already too late according to the UN Climate Report (August, 2021) to prevent serious ecological damage, yet Israel can and must significantly reduce greenhouse gas emissions and thus limit climate change - unlike in areas Many are actually the real estate industry can make the change. It's time to show that it is possible to do otherwise instead of leaving plans on paper. Environmental awareness and green building is good for all players in the field - and beyond that lifting a blue and white glove and entering the pitch The days to position the state as a leader in the field and if not as one at least as a state that puts the future of its citizens' lives first. The
author is the CEO of the real estate giant JLL in Israel
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