It’s About Progress, Not Perfection, in Real Estate Net-Zero Pledges

Published by Propmodo: The term “net-zero” is everywhere, including in the real estate industry. It’s hard to avoid, even if people may not know how to define it. Solemn “net-zero by 2050” oaths have filled newsfeeds and become a call to arms for countries and corporations alike. Major commercial real estate firms have joined the race to showcase their net-zero pledges. Firms like CBRE, JLL, and Cushman & Wakefield have taken the net-zero pledge, along with commercial real estate services firm Transwestern. Since the start of 2021, more than a dozen real estate companies have set net-zero targets.

Net-zero energy buildings are a bit easier to accomplish. With net-zero energy, facilities produce all the energy they need, using a mix of onsite renewables, electrification, and deep energy efficiency cuts. There are now about 700 net-zero energy buildings in the U.S. and Canada, and, according to New Buildings Institute, net-zero energy buildings grew 42 percent between 2018 and 2020.