Back in earlier October, CREtech held a two-part virtual Sustainability Summit, taking place over 5 days. Professionals heard from speakers with backgrounds in government, non-profit, smart city planners, real estate, and venture and tech leaders. All in all, the event focused on how to create a safer and more sustainable environment in the built world. Here are our takeaways from the event:
- The time for action from our leadership is now
The co-chairs of the program spoke with industry leaders ranging from owners, developers, and landlords. The takeaway from these conversations screamed ‘change comes from the top.’ Now that the leaders of the real estate industry understand a need for change, the time for action is now.
- Seek technology for the answer
The multitude of technologies pertaining to sustainability highlighted the necessity to adopt and adapt these innovations. In order for real estate companies to proactively minimize the carbon emissions in the environment, they must also be provided state of the art, integratable technology.
- Cross collaboration under a common goal
Companies featured across the program made a point that they welcome and enjoy working with other companies. Providing different perspectives to tackle the same problem will continue to translate positively. Ultimately, the industry understands the importance of achieving net carbon zero.
- Industry adoption seen thru ‘three-legged chair’
The following is required for industry adoption:
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- a robust investment sector
- engaged incumbent
- Top talent entering the space
Through the existence of large amounts of invested capital, active participation, and top-tier professionals in the space, we will see a strong platform built for success.
- Growing demand for sustainable real estate investments
There is a greater level of importance of ESG to institutional funds and investors- around $30 trillion of appetite globally. Before deploying capital, investors ask the following questions: What is a strong investment as it pertains to real estate sustainability and how do you measure it? What known and unknown risks should be considered in sustainable investment? What opportunities are currently most attractive?
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