Real Estate, Earth & Climate Change – Impact of Real Estate on Climate

Today’s blog will discuss Real Estate, Earth & Climate Change, and the Impact of Real Estate on Climate.  How to develop buildings in the future with minimum damage to the earth’s health.

Impact of Real Estate on Climate

Over the globe, climate change has been causing major effects and Pakistan is also facing drastic impacts of weather patterns on agriculture, health, and infrastructure. Before we delve deep into the effects of real estate on Earth, let’s have a quick review of climate change

What is Climate Change? 

Climate change is the shift in the earth’s temperature, ultimately affecting the weather patterns. It is mainly caused due to carbon dioxide and methane, gases emitted into the atmosphere by cars, building constructions, transport, and agriculture.  According to United Nations Resources; human activities have caused to heat the earth even faster than two thousand years ago. This has resulted in floods, heavy rains, draughts, and desertification. 

How to Minimize the Negative Impact of Real Estate on Climate

Real estate is another important industry with almost 20% greenhouse gas emissions worldwide. However, owing to the growing need for housing units and commercial property in the urban landscape, real estate developments are crucial. In fact, there’s a dire need to expedite property and infrastructure developments to fulfill basic human needs. Carbon emissions during construction are a major factor that impacts the climate. 

Sustainable Developments

Real estate companies in Pakistan are required to be more sensitive towards sustainable developments. As the United Nations Climate Change COP28 highlighted, developing countries need to focus on;

  • De-carbonization
  • Green buildings
  • Energy efficiency
  • Climate-resilient structures
  • Use of renewable resources

These measures will diminish the negative impacts of real estate developments on the climate, ultimately protecting the earth. 

Use Innovative Processes to Mitigate the Impact of Real Estate on Climate

It is crucial to be aware and prepared for the climate effects that will be faced in the coming years. The real estate companies must use innovative processes that reduce carbon emissions from the buildings. Use green materials, green technology, seismic engineering, advanced methods for water management, and use of renewable resources.

Today, consumers are also informed about the importance of a sustainable lifestyle. This increases the role of real estate companies, as negligence towards this subject might lead to a decline in the popularity of urban spaces. Problems like pollution, traffic, and congested living spaces also affect consumer behaviors. A unique trend has also been seen in home buyers and commercial investors as they now look for properties far from the urban hustle, that provide natural living spaces equipped with modern amenities. 

LEED Certification 

Over the world, private real estate companies and government bodies have started taking serious concerns about climate change. It has compelled companies to build sustainable real estate.  Pakistan’s real estate market has also observed eco-friendly projects in the last decade. 

 Impact of Real Estate on Climate

Another motivating factor for builders to develop sustainable properties and infrastructure is offering the companies incentives, tax exemptions, recognition awards, and other subsidies for developing earth-friendly real estate projects. 

Currently, almost 20 buildings in Pakistan are certified as green buildings by the US Green Building Council and have received LEED Certification. The Centaurus Mall in Islamabad and the Emporium Mall in Lahore have also received LEED Certification for their sustainable designs, energy-efficient features, and more advanced methods for waste management, rainwater harvesting, and solar panels. MGC Developments has also been recognized for developing earth-friendly projects like the MGC Jewel Highrise. Jewel conforms to all the building codes and utilizes measures that reduce carbon emissions.

Impact of Real Estate on Climate

The warmer the earth, the more consumption of water and other resources. This leads to an increase in the demand for these resources and, thus an increase in the prices. Therefore, it will be difficult for real estate companies to manage resources and provide high-end services to their tenants and owners.

The impact of real estate on climate is undeniable. However, the demand for real estate properties is also increasing day by day. Therefore, those companies who build sustainable and earth-friendly projects will have lasting success in the future.

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