The buildings that surround us could hold the key to meeting global climate change commitments
As the Covid-19 pandemic forces us to rethink how we use the spaces in which we live and work, an ever-increasing number of countries and companies are committing to a net-zero approach that will create a more sustainable world. JLL, a global company that specializes in real estate and investment management, is among those leading the way.
Why We Need Net Zero
CO2 pollution is still rising—2019 was another record year, with the world emitting 36.81 billion metric tonnes—and it is unlikely to peak before 2040, according to the International Energy Agency (IEA). To get to net-zero by 2050, the U.N.’s Intergovernmental Panel on Climate Change (IPCC) calculates that the world must invest $2.4 trillion in clean energy every year until 2035.
The concept of net-zero carbon neutrality is a central part of the efforts to combat climate change. Over 120 countries, accounting for almost half of global GDP, have committed to net-zero targets, or to at least outperform carbon-reduction targets set in the landmark 2015 Paris Agreement on climate change. Some are legislating the requirement, while almost 100 cities and a host of companies have announced carbon-neutral initiatives. Equally important, investment groups that manage almost $5 trillion in assets have committed to having carbon-neutral portfolios by 2050.
MEETING THE NET ZERO CHALLENGE
At the heart of the net zero challenge is the built environment. Buildings account for around 36% of global energy consumption and nearly 40% of total direct and indirect CO2 emissions. In addition, global building stock is predicted to double in the next 30 years.
The 2019 Global Status Report for Buildings and Construction, released by the U.N. and the IEA, declared that “decarbonization of the buildings and construction sector is critical to achieve the Paris Agreement commitment and the United Nations Sustainable Development Goals.” Energy-efficiency measures could deliver a 48% reduction in global emissions by 2030, with 43% of those emissions coming from buildings, resulting in cumulative savings of as much as $2.8 trillion.
With more than 2.5 billion people moving into cities over the next 30 years, we have a responsibility to help ensure the built environment evolves and adapts in a sustainable way.
– Christian Ulbrich, Global CEO, JLL
Covid-19 and How to Build Back Better
The pandemic has offered a stark reminder of the commitment required to ensure a sustainable future. The 8% decrease in CO2 emissions seen as a result of the lockdown, with an attendant drop in economic activity, is comparable to the 7.6% reduction calculated to be needed each year until 2030 to meet the 1.5C maximum climate rise commitment of the Paris Agreement.
According to We Mean Business—a coalition that brings together other nonprofits such as Ceres, the CDP, and the World Business Council for Sustainable Development—the pandemic has accelerated action by companies to reduce risk, build resilience, and set themselves up for long-term success in a zero-carbon future. In its Build Back Better manifesto, the coalition highlights the path ahead for business investment and growth:
JLL: Building a Better Tomorrow
JLL is at the vanguard of building a resilient, sustainable future. It has already met its 2020 sustainability targets and published its first TCFD disclosures in its
2019 Global Sustainability Report. This year, the Science-Based Targets initiative (SBTi) approved the company’s plan to reduce its Scope 1 and 2 greenhouse emissions by 70% by 2034, from the 2018 base year. The target covers emissions from JLL’s more than 400 offices in over 40 countries, and its engineering fleet, including company cars.
A keen advocate for a sustainable future, JLL has also committed to reducing Scope 3 emissions from the real estate it manages on behalf of its clients. It plans to reduce emissions by 55% per square foot by 2034, from a 2018 base year, on the 5 billion square feet of space it manages for clients globally.
Partnering With Clients to Reach Net Zero
JLL already works with a number of clients to help them through the energy transition process, including:
Majid Al Futtaim:
Shopping mall, retail, and leisure developer MAF, which became the first Middle Eastern company to make a net positive commitment—to put back more into the environment than it takes out—in 2017.
Great Portland Estates:
Property investor and developer GPE also utilized JLL’s expertise to help it develop a net-zero carbon pathway and an implementation plan to reduce its carbon footprint. GPE is a signatory of the Better Buildings Partnership’s Climate Change Commitment, which launched in 2019.
Interface Inc
Modular flooring company Interface renovated and added a fourth floor to their 40,000 square feet 1960s offices in midtown Atlanta, Georgia. The LEEDv4 Platinum building uses 48% less energy than code requires, and a building wrap also provides natural light and reduces heat.
To minimize waste, design and construction, teams recycled and donated building materials, with total waste diversion at 93%. Interface achieved a 50.48% reduction in embodied carbon compared to a code-compliant building.
“Our ambitious plan will cut carbon emissions across our workspaces and operations by almost 70%, confirms Ulbrich. “In so doing, we are continuing to lead our industry and deliver on our stated purpose to shape the future of real estate for a better world.”
” JLL continues to set the standard for leadership in the real estate sector. The company has been a longtime advocate for meaningful climate and clean energy policy, and Ceres is proud to collaborate with JLL.”
– Mindy Lubber, CEO & President Ceres
JLL to Achieve Global Net Zero Carbon Emissions by 2030
On September 21, 2020–with the World Green Building Council (WorldGBC) at Climate Week New York—JLL announced the next stage in its ambitious sustainability program by committing to achieve net-zero carbon emissions across all JLL-occupied buildings by 2030. JLL is also advocating for a net-zero approach for all its clients and suppliers.
The Net Zero Carbon Buildings (NZCB) commitment from WorldGBC, signed by JLL, recognizes businesses, organizations, and regions taking action to reach net-zero carbon for all assets under their direct control by 2030, and all buildings to be net-zero carbon in operation by 2050.
In September 2019, JLL became the first property consultancy in the U.K. to sign up for the NZCB, which helped establish a blueprint for JLL’s global commitment.
“By committing to achieve net-zero carbon emissions across our global office network by 2030, JLL is again demonstrating our determination to play a full part in mitigating climate change,” says Ulbrich. “Through our own ambitious sustainability targets, and through the advice and services we provide to our clients, we will work to fulfill our corporate purpose of shaping the future of the real estate for a better world.”
Committed to WGBC
“We are delighted to welcome JLL’s global operations to the commitment, joining a group of leading organizations, cities, states and regions all acting to advance net zero buildings towards the mainstream,” says Cristina Gamboa, CEO of the World Green Building Council. “A sustainable future is our only future. We must continue to drive momentum, ambition and leadership towards decarbonizing the built environment, not only to combat the climate crisis but also unlock a green recovery from Covid-19 that benefits people, the planet and economies.”
