Introducing Carbon Title: A Solution for Real Estate Sustainability
As the world grapples with climate change, businesses are actively seeking ways to reduce their environmental impact. Carbon Title, a groundbreaking platform developed by startup Carbon Title and founded by Keely Khoury, offers transparency on Environmental, Social, and Governance (ESG) claims in the real estate industry. This innovative platform aims to assist real estate companies in achieving their sustainability goals.
Enhancing Transparency and Tracking Decarbonization Progress
Carbon Title leverages blockchain technology to provide transparency and track the progress of decarbonization initiatives. It enables companies to evaluate the environmental impact of their buildings and portfolios, as well as share their sustainability performance with stakeholders. By utilizing non-fungible tokens (NFTs) to store building data, the platform allows companies to benchmark their progress, differentiate their buildings from competitors, and promote transparency in the industry.
Redefining Real Estate Sustainability Practices
Carbon Title transforms the approach of real estate companies towards sustainability, moving beyond mere greenwashing of projects. By enabling companies to define and measure their sustainability goals accurately, the platform brings consistency and accuracy to ESG claims that were previously lacking. Additionally, Carbon Title provides a space for sharing best practices and knowledge among organizations, empowering real estate companies to demonstrate their commitment to sustainability to stakeholders.
The Impact of Carbon Title on Decarbonizing the Real Estate Industry
The launch of Carbon Title marks a significant advancement in decarbonizing the real estate sector. With increased transparency and visibility of ESG claims, the platform holds real estate companies accountable for their environmental performance. By providing valuable information, it enables companies to make informed decisions and set ambitious sustainability goals, ultimately driving the industry towards a more sustainable future.
Construction Industry’s CO2 Emissions and the Urgent Need for Mitigation
Alarming CO2 Emissions from the Construction Industry
According to a report published by the United Nations Environment Programme, emissions from the construction industry reached an all-time high in 2019. The report reveals that energy-related CO2 emissions increased by 9.95 gigatonnes, primarily due to a shift towards electricity, which has a higher carbon content due to fossil fuel-based generation. The construction sector accounted for a staggering 38% of global energy-related CO2 emissions.
The Journey Towards Net-Zero and Building Sector Contributions
To achieve net-zero emissions, the International Energy Agency (IEA) estimates that direct building CO2 emissions must decrease by 50% by 2030, equivalent to an annual reduction of around 6%. Despite this significant target, most countries have not yet submitted their Nationally Determined Contribution targets (NDCs) for the building sector. The lack of specific mitigation policies for the construction industry further emphasizes the urgent need for action.
Urgent Actions and Support for Net-Zero Emission Buildings
The authors of the report stress the necessity for national governments to enhance their commitments in NDCs and develop longer-term climate strategies. Support for regulations that encourage the adoption of net-zero emission buildings is crucial. Inger Anderson, executive director of the UNEP, emphasizes the importance of aggressive energy demand reduction, decarbonizing the power sector, and implementing strategies to reduce lifecycle carbon emissions.
The Role of Governments and Industry Collaboration
Nigel Topping, the United Kingdom High-Level Climate Champion, emphasizes the need to address carbon emissions from the buildings and construction sector, which account for almost 40% of global emissions. He calls for increased visibility of this issue at COP26 to inspire policies and decisions that lead to significant decarbonization. Topping highlights the importance of challenging traditional materials like steel and concrete and encourages the industry to embrace new and disruptive technologies for a sustainable future.