Case Study: Decarbonization
Strategically Reducing Carbon Emissions
The Green Cities Company is actively advancing strategies to lower the carbon footprint of the real estate sector towards achieving Net Zero.
We publicly stand with the ULI Greenprint community in making commitment to Net Zero by 2050.
In addition, we are shepherding innovative approaches to decarbonizing the built environment through a detailed Climate Action Plan.
Given our long history of sustainable innovation, Green Cities believes it has a singular opportunity to drive carbon reduction in the multifamily space. In 2022, Green Cities created its proprietary DECARB methodology, a step-by-step playbook for property-specific Climate Action Plans.
Through the five pillars of the GCI and our fully integrated team, each potential decarbonization initiative is evaluated for its emissions reducing opportunity as well as its ROI for the specific asset.
- Whole lifecycle carbon accountability
- Detailed data collection for informed Scope 1, Scope 2, and Scope 3 action
- Deep pre-acquisition audits identify Energy Conservation Measures indiligence phase
- Asset-specific Climate Action Plans informed by diligence, retrocommissioning, and our own in-house expertise
- Operational improvements throughout our hold period driving emissions reductions and cost savings
- Mechanical, electrical, and plumbing retrofits
- Emphasis on materials selection, reducing embodied carbon while screening for forever chemicals and health threats
- Wherever possible, elimination of fossil fuels through electrification, onsite renewable installations, offsite renewable power purchase agreements
- A “RECs-last” approach, prioritizing real decarbonization over purchased offsets
- Focus on full-portfolio impact, in addition to our own corporate footprint
Green Cities decarbonization approach looks to add asset value by:
-
Evaluating the viable mix of electrification and renewable power strategies engage in energy audits alongside Property Condition Assessments in pre-acquisition diligence
-
Perform retro-commissioning on every property
-
Conduct waste/recycling audits on every property and add select expanded waste initiatives including textiles and e-waste
-
Target lower carbon options in retrofit and capital improvements utilizing our fully integrated team
-
Collaborate with industry partners and peers to evaluate embodied carbon in construction materials, interiors, and furnishings
