Fifth Wall Co-Founder & Managing Partner Brendan Wallace explains why the collision of the climate crisis and the global real estate business will be one of the most disruptive events in the real estate sector in our lifetime, and by extension, the economy as a whole. Brendan shares insight into how the global push towards decarbonization across the economy will affect the real estate industry, while creating a huge demand for climate tech in the process.

 

The buildings sector, which includes energy used for constructing, heating, cooling and lighting homes and businesses, as well as the appliances and equipment installed in them, accounts for over one third of global energy consumption and emissions.

Global floor area is growing rapidly, especially in developing countries, and growing wealth means more and more consumers are buying air conditioners and other appliances. Because of the long lifetime of structures, heating and cooling systems, and other appliances, design and purchasing decisions made today will shape energy use for many years to come.

Existing technologies can deliver significant energy and cost savings and other benefits, but stronger policy support such as minimum performance standards and building energy codes will be required to put the buildings sector on track with the Net Zero Emissions by 2050 Scenario.

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(Source : IEA)