Publications

- July 1, 2020: Vol. 14, Number 7

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In tech we trust: By working together, real estate investors and proptech innovators can reduce the risk of long-lasting changes to our planet’s ecosystems

by Faisal Butt

The real estate sector is one of the biggest contributors to global warming, with the World Economic Forum estimating that the industry consumes 41 percent of global energy annually and accounts for 20 percent of all carbon emissions. According to the World Bank, the real estate industry must reduce emissions by 36 percent over the next decade if the targets of the Paris Agreement are to be met. This requires annual reductions of 1.25 percent in energy consumption and 3 percent in emissions.

The numbers are astounding and speak for themselves. There has never been a more urgent need for sustainable innovation to transform our industry at such a quick pace. In order to reach these targets and reduce its carbon footprint at this required speed, the property industry has no choice but to embrace innovation and proptech tools.

As a consequence, emerging sustainability-related technologies have become an essential part of a real estate owner’s toolkit in the fight to pres

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