Develop Your Decarbonization Strategy
Once you’ve analyzed the high impact areas your organization needs to focus on, determine a plan for reducing carbon. Every building with heating, cooling and lighting features emits carbon, which contributes to heat trapping in the atmosphere. The solution to this issue is boosting energy efficiency. How can buildings boost energy efficiency? Panelists from the 2024 BOMA International Medical Real Estate Conference shared their insights from the session, “How ESG is Driving Capital Investments.”
Kate Davis, Managing Director, Senior Portfolio Mgr., Harrison Street stated: “Little changes can make big impacts to your portfolio, like implementing technologies that turn off lights automatically in closets when their door closes – or restricting the ability to change the temperature from too high or too low.”
Michael Braun, Director of Sustainability Engineering, Lillibridge Healthcare Services echoed these recommendations: “As it relates to solar, you want to look at the cleanliness of the grid. Consider the weather. Some buildings use heat pumps – others it makes sense to use a white roof to omit the heat absorption.”
Another step that organizations can take in reducing their carbon footprints is planning for electrification and renewable energy. “The future of buildings and transportation is electric,” the CBRE report states. “In buildings, electrification has the potential to reduce emissions, improve an asset’s bottom line and attract quality tenants.”
Another strategy is determining suitable on-site and off-site renewable energy options that will meet your GHG energy efficiency goals, such as solar, geothermal, or wind. Research which type, or types, of renewable energy is the best fit for your circumstances and geographic region. Effective introduction of renewables into your energy supply can help optimize operations and contribute to long-term savings.
View this
resource from BOMA International to learn more about renewable energy or visit our
Decarbonization Resource Center to stay up to date with all the latest carbon reduction strategies.
Want a better way to analyze your carbon emissions? Make the commitment and join the
BOMA International Carbon Challenge, which simply entails a commitment to measure emissions by using the free benchmarking tool in ENERGY STAR Portfolio Manager.
Offset Your Carbon Balance
One of the last steps of the carbon reduction strategy CBRE provided is to “offset.” Offsetting is when a company continues to produce carbon but compensates for it by funding other projects like reforestation, for example. Carbon offsets are not ideal and should only be considered as a last resort, but they may be necessary in the short-term to meet decarbonization targets.
The four tactics to consider as part of reducing GHG within your organization are: continuously improve energy efficiency; electrify your portfolio; transition to renewable sources of energy and alternative fuels; and credibly offset the remaining carbon balance.
As businesses begin their decarbonization processes, it’s important to consider the small ways customers and suppliers can reduce emissions, such as buying low-carbon products; buying from companies that have decarbonized; or making products that produce less carbon.
Reducing your building’s carbon footprint will future-proof your portfolio, enhance your business and make all the difference in meeting societal goals.