5 Steps: How the Real Estate Sector Can Embrace Climate-Positive

Mohit Jajoo is an esteemed member of the Executive Committee of Young Indians (CII Rajasthan) and is the Chairperson of its Learning Vertical, CREDAI Rajasthan, and TIE. Mohit entered the business world when he was just 19 years old. He joined his family business, which today is one of the most prestigious organizations in Rajasthan – the Shubhashish Group. The Group was established in 1983, extending its wings over various verticals such as Wealth Management, Logistics, Packaging and Warehousing, IT Services and Real Estate.

The real estate sector has a role to play in defining a sustainable future. The real estate sector can no longer afford to disregard climate change's environmental effects as the world struggles to cope with its effects.

Fortunately, the industry has a huge opportunity to embrace climate-friendly behaviors that could open the door for a greener, more sustainable future. Here are five stages that demonstrate how the real estate industry can use these methods.

1. Sustainable Building Design and Construction

Integrating sustainable building design and construction methods stands as the initial stride toward achieving climate-positive practices within the real estate sector. By prioritizing energy-efficient designs, embracing eco-friendly materials, and implementing green construction standards, the industry can profoundly mitigate its carbon footprint. Enhanced insulation, energy-conserving lighting, and the incorporation of renewable energy sources such as solar panels present powerful avenues to markedly curtail a building's energy consumption, consequently contributing to a substantial reduction in its environmental impact. This holistic approach not only addresses the ecological concerns but also enhances the sector's long-term sustainability and resilience.

2. Embracing Smart Technologies

Incorporating intelligent technologies into buildings has the potential to transform energy management and resource utilization. Smart sensors that monitor energy usage and automated systems that adjust lighting and temperature based on occupancy improve energy efficiency. Furthermore, real-time tracking of energy consumption, water usage, and waste generation through smart technology empowers informed decision-making and facilitates targeted enhancements. This integration not only advances sustainability but also elevates the efficiency and adaptability of structures in response to evolving environmental demands.

3. Retrofitting and Upgradation of Existing Structures

The current inventory of buildings plays a substantial role in environmental deterioration. Retrofitting and enhancing older structures with energy-efficient technologies not only prolongs their lifespan but also diminishes their ecological footprint. Implementing measures like the installation of energy-efficient windows, enhanced insulation, and upgraded heating and cooling systems can result in significant energy conservation. This strategy offers dual benefits by not only fostering environmental well-being but also bolstering the property's worth and ensuring optimal comfort for its occupants.

"Smart sensors that monitor energy usage and automated systems that adjust lighting and temperature based on occupancy improve energy efficiency."

4. Sustainable Materials and Practices

The real estate industry's reliance on conventional building materials frequently has a significant environmental impact. The sector can drastically cut its carbon emissions by switching to sustainable resources like recycled steel, repurposed wood, and low-carbon concrete. Adopting practices like waste reduction, water conservation, and ethical material procurement can also help the sector's attempts to reduce its carbon footprint.

5. Collaboration and Education

It is crucial for advancing climate-positive practices in real estate that stakeholders, including developers, architects, governments, and communities, work together. Industry participants should take a proactive role in knowledge exchange and education, encouraging understanding of sustainable building practices, green certifications, and the advantages of energy-efficient structures. By promoting energy efficiency, renewable energy integration, and green building certifications, governments may reward sustainable practices.

Conclusion

The transition of the real estate industry towards climate-positive practices is not only morally required, but also a calculated measure to ensure its long-term profitability. The sector may support international efforts to mitigate climate change by developing sustainable construction designs, adopting smart technology, retrofitting existing structures, employing eco-friendly materials, and encouraging collaboration. These benefits include increased property value, decreased operational expenses, and improved reputational value in addition to environmental gains.

"The real estate industry's adoption of climate-positive practices will not only contribute to reducing climate change but also position it as a leader in sustainable development as demand for environmentally conscious buildings increases."

The real estate industry's adoption of climate-positive practices will not only contribute to reducing climate change but also position it as a leader in sustainable development as demand for environmentally conscious buildings increases. These actions will allow the industry to show that it is dedicated to creating a more resilient, successful, and sustainable future for both present and future generations.