The built environment is both a challenge and an opportunity in the fight against climate change, contributing significantly to global emissions. In Asia, rapid urbanization and the projected doubling of institutional stock by 2030 make it a critical region for decarbonization efforts. Our recent webinar brought together industry leaders to explore actionable strategies, innovations, and financing models to accelerate decarbonization in Asia’s real estate sector.

1. The Built Environment’s Role in Emissions

Globally, real estate accounts for nearly 40% of carbon emissions, with 28% stemming from building operations and 12% from construction. Asia faces unique challenges due to rapid urbanization, a significant stock of aging buildings, and increasing demand for new construction materials.

Key Discussion Points:

• Retrofitting as a Priority: With 80% of today’s building stock still expected to be standing in 2050, retrofitting existing buildings is essential. Arista, the Global Head of Sustainability at Asia Green Real Estate, emphasized the potential of retrofits to reduce energy consumption by 20–30%.
• Embodied Carbon: Materials like cement and steel, which account for significant emissions, are areas where innovation and regulatory frameworks are urgently needed.

2. Innovations Driving Decarbonization

Technology is a cornerstone for enabling emission reductions in real estate. From data capture to predictive systems, innovation is helping developers optimize energy use and reduce embodied carbon.

Key Innovations Discussed:

• Data Capture and Analysis: Using IoT and AI-enabled platforms to measure, track, and report emissions is critical. For instance, Helen the Managing Partner at AC Ventures, highlighted the role of building management systems and dashboards in consolidating emissions data for better decision-making.
• Predictive Maintenance: New technologies in HVAC systems can analyze weather forecasts and occupancy patterns to optimize heating and cooling, reducing energy use by up to 30%.
• Digital Twins: These simulations, combined with AI, allow developers to predict energy consumption and optimize operational efficiencies.

3. Financing Green Transitions

Cost is a primary barrier to adopting sustainable practices and materials. However, innovative financial mechanisms can lower these barriers.

Highlighted Models:

• Build-Operate-Transfer (BOT) Schemes: As Arista noted, BOT models distribute upfront costs over time, making retrofits more accessible.
• Sustainability-Linked Loans: Institutions like IFC are offering financial products tied to environmental performance, incentivizing developers to pursue green initiatives.
• Green Building Incentives: Singapore’s policies, such as tax rebates, expedited permitting, and density bonuses, provide a model for encouraging sustainable construction.

4. Overcoming Challenges in Material Science

The industry faces hurdles in adopting low-carbon construction materials like green cement and steel due to cost premiums and limited scalability.

Key Insights:

• Adoption of Recycled Materials: Materials like recycled bitumen and fly ash bricks are gaining traction as cost-effective and sustainable alternatives.
• Marketplaces for Sustainable Materials: Platforms like Accacia’s marketplace are helping developers source green building materials, lowering barriers to adoption.

5. Policy and Regulatory Frameworks

Regulation plays a pivotal role in driving decarbonization. Panelists pointed to Singapore as a leader in aligning policies with global standards, while countries like Indonesia and India need to strengthen enforcement.

Examples of Successful Policies:

• Carbon Border Adjustments: The EU’s regulatory framework for materials like cement and steel can serve as a blueprint for Asian countries.
• Utility Decarbonization: Government-mandated shifts toward renewable energy in utility grids are crucial for enabling greener operations.

6. Future Trends in Decarbonization

Looking ahead, the panelists shared an optimistic outlook on the evolution of climate investments and sustainable innovations.

Emerging Trends:

• Integration of Renewable Energy: Rooftop solar and on-site renewable installations are becoming more accessible and widely adopted.
• Focus on Embodied Carbon: Tools to measure and reduce embodied emissions are gaining traction, although standardized certifications remain a challenge.
• Corporate Climate Action: Multinational companies are increasingly embedding sustainability into their operational strategies, driven by both regulatory pressures and cost savings.

A Call to Action

Decarbonizing the built environment in Asia requires a collaborative effort from developers, policymakers, and investors. The need for awareness, innovative financing, and scalable solutions has never been greater. As Helen urged, the first step is to start the journey—whether by measuring emissions, adopting retrofits, or exploring sustainable materials.

At Accacia, we are committed to supporting the real estate sector in its decarbonization journey through advanced analytics, sustainable material marketplaces, and tailored strategies. Together, we can transform challenges into opportunities and pave the way for a greener, more resilient future in Asia’s built environment.

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Interested in learning more?
Reach out to us to explore case studies and innovative solutions for reducing both operational and embodied carbon in your real estate projects.

As the world races toward achieving net-zero carbon emissions, the focus is increasingly shifting from new construction to retrofitting existing buildings. Retrofitting, the process of upgrading old structures to improve energy efficiency and reduce emissions, is becoming a critical component of sustainable building efforts globally. In India, with its rapidly expanding urban population and older building stock, retrofitting offers unique opportunities and challenges. This blog explores global retrofitting trends, examines India’s specific needs, and highlights Accacia’s contributions to creating more sustainable, energy-efficient buildings.

The Global Perspective on Retrofitting for Sustainability

Globally, retrofitting is recognized as one of the most effective ways to reduce emissions in the built environment. With many structures expected to last for decades, retrofitting existing buildings is crucial for hitting carbon reduction targets. Key global trends in retrofitting include:

1. Energy-Efficient Upgrades: The installation of energy-efficient lighting, HVAC systems, and insulation materials to reduce energy consumption and increase operational efficiency.
2. Smart Building Technology: Integrating smart systems that monitor energy use in real-time and optimize energy performance based on usage patterns.
3. Renewable Energy Integration: Retrofitting roofs with solar panels, utilizing geothermal heating, and other renewable energy sources to lower reliance on non-renewable energy.
4. Green Certifications: Many global markets incentivize or mandate certifications like LEED, BREEAM, and WELL that reward energy-efficient, eco-friendly retrofits.
5. Financial Incentives: Countries like the U.S. and EU member states offer tax breaks, grants, and low-interest loans to encourage retrofitting, making it financially viable for property owners.

While these initiatives have gained traction in developed economies, retrofitting in emerging markets like India faces a distinct set of challenges and opportunities.

India’s Unique Needs and Constraints in Retrofitting

India’s urbanization rate and economic growth are unprecedented, leading to an urgent need for sustainable building solutions. However, retrofitting in India presents several unique considerations:

1. Aging Infrastructure: Many commercial and residential buildings were built before modern sustainability standards, making retrofitting more complex and costly.
2. Cost Sensitivity: Property owners may hesitate to invest in retrofitting due to the high initial costs and uncertain return on investment (ROI). While retrofitting provides long-term savings, upfront expenses remain a challenge for many stakeholders.
3. Lack of Awareness: Sustainable building practices are still relatively new in many parts of India, and there is limited awareness among building owners about the benefits of retrofitting.
4. Regulatory Landscape: India has yet to adopt mandatory energy efficiency standards across all building types. While the Energy Conservation Building Code (ECBC) applies to commercial buildings, broader implementation could drive adoption.
5. Climate Variability: India’s diverse climate zones require customized retrofitting solutions that can optimize energy efficiency in different environmental conditions, from humid coastal areas to dry, hot interiors.

Despite these challenges, there is growing momentum toward green retrofitting. Policies such as the Smart Cities Mission and state-level incentives are encouraging sustainable upgrades, and awareness is increasing about the role of retrofitting in achieving net-zero goals.

Accacia’s Role in Retrofitting for Energy Efficiency and Lower Emissions

Accacia plays a vital role in accelerating sustainable retrofitting in India by providing data-driven insights and facilitating the use of energy-efficient materials and systems. Here’s how Accacia is contributing to India’s green retrofitting movement:

1. Real-Time Energy Monitoring: Accacia offers cutting-edge technology for tracking and analyzing building energy usage in real time. By identifying energy inefficiencies, Accacia enables property owners to target areas for retrofit, reducing unnecessary energy consumption and lowering emissions.
2. Data-Driven Decision Making: Retrofitting requires an understanding of where emissions and energy costs are highest. Accacia’s platform integrates data from utility bills, smart meters, and building management systems, giving owners the insights they need to make cost-effective, impactful retrofits.
3. Optimized Building Operations: Through its AI-driven platform, Accacia can help building managers predict and manage energy peaks, schedule efficient HVAC operations, and automate systems for optimal performance, significantly reducing operational energy needs.
4. Green Material Marketplace: A significant part of retrofitting involves upgrading materials to sustainable alternatives. Accacia’s marketplace connects developers and property owners with green materials, helping them access options with lower embodied carbon and better energy efficiency.
5. Compliance and Certification Support: Accacia assists clients in aligning with energy efficiency codes, such as ECBC, and prepares documentation for green building certifications like IGBC and LEED, making it easier for properties to qualify for incentives and recognition.

Collaboration and Partnerships: Accacia partners with developers, financial institutions, and government bodies to promote sustainable building practices. By providing transparent data and clear benefits, Accacia helps build a strong case for retrofitting as a viable and necessary investment for India’s future.

The Path Forward for Retrofitting in India

As India pushes toward its net-zero target, retrofitting will play an increasingly central role in reducing emissions from the built environment. Government policies and financial incentives will be crucial in accelerating retrofitting adoption. Expanding the ECBC to cover more building types and strengthening green certification standards would also create a more supportive environment for retrofitting.

For Accacia, the goal is to continue empowering property owners and developers to make sustainable retrofitting decisions that benefit both the planet and their bottom lines. By providing data-driven insights, a green material marketplace, and real-time monitoring, Accacia is transforming the way India’s built environment approaches retrofitting.

Conclusion

Retrofitting India’s existing buildings for sustainability is not just an option; it’s an imperative to meet climate targets and ensure that the nation’s infrastructure can withstand future demands. While global trends in retrofitting offer valuable insights, India’s unique market calls for tailored solutions that address local needs and constraints.

Accacia’s role in this journey exemplifies the power of technology and data in making sustainability actionable. As more buildings undergo sustainable retrofits, India will be better positioned to meet its climate goals and lead the way in building a greener future for the world.

The global movement toward net-zero emissions has gained unprecedented momentum, with countries and corporations committing to ambitious targets to mitigate climate change. India, a rapidly urbanizing nation, has a unique opportunity to lead the charge by transforming its real estate sector into a model of sustainability. As buildings account for nearly 40% of global emissions, decarbonizing this sector is essential to meet climate goals. This blog explores the global net-zero landscape, delves into India’s specific strategies and policies for the real estate industry, examines the implications for Indian developers, and highlights how Accacia is aiding businesses in achieving their sustainability objectives.

The Global Net-Zero Landscape and Real Estate

Achieving net-zero emissions—where the amount of greenhouse gases emitted is balanced by the amount removed from the atmosphere—is crucial to limiting global warming to 1.5°C above pre-industrial levels, as outlined in the Paris Agreement. The United Nations emphasizes that to meet this goal, global emissions must be reduced by 45% by 2030 and reach net zero by 2050.

In the real estate sector, net-zero buildings are becoming a focal point. Countries like the United Kingdom, the European Union, and the United States are pioneering green building standards and energy-efficient designs that substantially lower emissions. With these commitments, significant investments are directed toward sustainable building materials, advanced HVAC systems, and energy-efficient lighting

India’s Commitment to Net Zero in Real Estate

At the COP26 summit in 2021, India announced its goal to achieve net-zero emissions by 2070. For the real estate industry, which is central to India’s infrastructure growth and urbanization, this commitment presents both challenges and opportunities. India’s real estate strategies to achieve net zero focus on reducing emissions from construction, enhancing energy efficiency, and fostering sustainable urban development.

Ongoing projects supporting this commitment include:

• Smart Cities Mission: With over 5,000 green infrastructure projects, the Smart Cities Mission integrates energy-efficient buildings, water recycling systems, and smart lighting to reduce urban emissions.
• Energy Efficiency in Buildings: The Bureau of Energy Efficiency (BEE) has introduced standards and programs for energy-efficient building designs, making it easier for real estate developers to adopt energy-saving solutions.
• Green Building Initiatives: India is one of the largest markets for green buildings, with certifications from the Indian Green Building Council (IGBC) and Leadership in Energy and Environmental Design (LEED) helping developers meet sustainable building standards.

Key Policy Levers Driving Decarbonization in Real Estate

1. National Building Code of India (NBC): This sets out guidelines for energy-efficient design and sustainable construction practices, promoting the use of eco-friendly materials.
2. Energy Conservation Building Code (ECBC): The ECBC targets commercial buildings, encouraging developers to use energy-efficient designs, lighting, and HVAC systems.
3. Incentives for Green Buildings: Various states offer tax benefits, faster approvals, and other incentives to developers who incorporate green technologies and sustainable practices in their projects.

Impact on Indian Real Estate Developers

India’s net-zero commitment has profound implications across the real estate sector:

• Energy-Efficient Construction: Real estate developers are investing in materials with lower embodied carbon, such as fly ash concrete and sustainable building insulation, to reduce emissions during construction.
• Retrofitting Existing Buildings: Many developers are focusing on retrofitting existing structures to make them more energy-efficient, aligning with global trends in sustainable building maintenance.
• Integration of Renewable Energy: Solar installations on rooftops and energy-efficient systems in commercial and residential buildings are increasingly common, allowing developers to meet energy needs sustainably.
• Carbon Capture Initiatives: Some high-emission buildings are exploring carbon capture and storage (CCS) options to offset their carbon footprints.

The Green Energy Corridor, although primarily aimed at power transmission, supports the real estate industry by facilitating the integration of renewable energy into urban areas, ensuring that new developments can meet energy demands sustainably.

Accacia’s Role in Facilitating Sustainability in Real Estate

Accacia is at the forefront of assisting real estate businesses in navigating the complexities of the net-zero journey. Our contributions include:

• Data-Driven Insights: We offer real-time data tracking for energy use and emissions, helping developers monitor and manage their carbon footprint throughout a building’s lifecycle.
• Green Material Marketplace: Through our marketplace, developers can access eco-friendly building materials, reducing the embodied carbon in their projects and enhancing sustainability from the ground up.
• Regulatory Compliance Support: Accacia assists developers in aligning with building codes, energy efficiency standards, and international sustainability frameworks, making compliance more manageable and streamlined.

Our solutions enable developers to optimize operations, reduce energy consumption, and contribute meaningfully to India’s net-zero objectives by creating structures that are both economically and environmentally sustainable.

Conclusion

India’s path to net-zero emissions is a testament to its commitment to sustainable development amidst rapid urbanization. As the real estate sector adapts to this new paradigm, developers have the opportunity to contribute significantly to a low-carbon future. By focusing on energy efficiency, sustainable materials, and renewable energy integration, India can transform its built environment into a model of resilience and sustainability.

With strong partnerships, data-driven insights, and a focus on green building standards, Accacia is helping Indian developers lead the way in sustainable real estate. Through innovation and sustained commitment, India is poised to play a pivotal role in the global push for net-zero emissions in the built environment.

Sustainability is no longer just a goal for businesses—it’s an operational necessity. As climate regulations tighten and companies strive to reduce their carbon footprints, managing sustainability has become a complex challenge. From tracking emissions and managing energy consumption to maintaining transparency with stakeholders, the process is far-reaching and data-heavy.

This is where sustainability management software comes in. Designed to simplify and streamline sustainability efforts, these platforms allow companies to monitor their environmental impact, report progress, and meet their compliance obligations efficiently. But with many options available, how do you choose the right solution for your business?

What is Sustainability Management Software?

Sustainability management software serves as a central hub for tracking and managing the various environmental impacts of an organization. It collects data across different areas like energy use, greenhouse gas emissions, waste management, and supply chain sustainability. This data helps organizations understand their environmental impact and make informed decisions to improve their sustainability efforts.

Beyond just tracking emissions, sustainability software also assists in generating comprehensive reports that align with global standards like the GHG Protocol, helping organizations ensure compliance with environmental regulations and report accurately to stakeholders.

Why Does It Matter?

Effective sustainability management is critical not only for meeting regulatory requirements but also for building trust with consumers and investors. Companies that are transparent about their sustainability efforts can enhance their brand image, attract eco-conscious customers, and improve investor confidence. In fact, demonstrating tangible progress toward sustainability goals can significantly impact a company’s reputation and market value.

Moreover, as industries become more competitive, managing sustainability efficiently can also reduce costs. By identifying areas of inefficiency—whether it’s energy overuse, waste, or excess emissions—companies can lower their operational costs while reducing their environmental impact.

Key Features to Look For

When selecting sustainability management software, the following features are crucial to ensuring it meets your business needs:

1. Comprehensive Data Tracking: Your software should track key environmental metrics like carbon emissions, energy consumption, waste, and water use. It should also integrate with your existing systems, such as Building Management Systems (BMS) or enterprise resource planning (ERP) systems, to collect real-time data seamlessly.
2. Compliance and Reporting: The platform should offer robust reporting capabilities that align with global sustainability frameworks, making it easier to stay compliant with changing regulations. Look for software that simplifies the reporting process, turning complex data into actionable insights for your sustainability reports.
3. Scalability: As your organization grows, so will your sustainability initiatives. Choose a solution that can scale with your business, offering flexibility as your sustainability goals and data-tracking needs expand.
4. User-Friendly Interface: Sustainability software should be intuitive and accessible to all teams, from sustainability officers to financial managers. A clear, user-friendly interface ensures that your team can easily interpret data and take action where needed.
5. Real-Time Insights: Immediate feedback is essential for understanding and reacting to your environmental impact. Choose software that provides real-time insights, allowing you to address inefficiencies and optimize sustainability practices as they occur.

The 10 Best Sustainability Management Software Options To Consider In 2024

1. Accacia – AI-Powered Real Estate Decarbonization

Accacia is the world’s first Outcome-as-a-Service (OaaS) platform, transforming the real estate sector’s path to net-zero emissions. It’s AI-powered platform provides precise, real-time emissions data from both operational and under-construction assets, simplifying the decarbonization process.

With a team of climate experts, Accacia helps organizations set targeted sustainability goals and craft actionable strategies. It’s solutions-focused marketplace curates locally sourced, sustainable materials and innovations to create eco-friendly structures that prioritize health and safety.

Partnering with developers, asset managers, and financial institutions, Accacia ensures emissions reporting meets regulatory standards while advancing real estate’s role in a sustainable future through cutting-edge data tracking and AI-driven insights.

2. Persefoni – Climate Management & Accounting Platform

Persefoni’s Climate Management & Accounting Platform (CMAP) offers businesses tools to track and manage their carbon footprints with real-time data and insights. By aligning with sustainability frameworks like the GHG Protocol and integrating with existing systems, it helps companies improve environmental transparency and reporting capabilities. With a user-friendly interface, Persefoni provides a solution for businesses looking to streamline their carbon reporting processes.

3. Sphera – Comprehensive ESG Software

Sphera offers a holistic ESG platform that enables businesses to manage environmental, social, and governance data. The software integrates sustainability tracking, risk management, and compliance, ensuring that companies not only meet regulatory requirements but also adopt sustainable practices that enhance overall operational efficiency.

4. Salesforce Net Zero Cloud – Simplified Carbon Accounting

Salesforce’s Net Zero Cloud platform makes carbon accounting easier for organizations by offering insights into Scope 1, 2, and 3 emissions. It helps businesses manage their carbon reduction goals while embedding sustainability into their broader operational strategy. With a cloud-based approach, companies can track, analyze, and act on their carbon data effectively.

5. Greenly – Carbon Accounting for SMEs

Greenly specializes in helping small and medium-sized enterprises (SMEs) measure and manage their carbon footprints. By offering user-friendly tools to track emissions and implement sustainable practices, Greenly makes sustainability accessible for smaller businesses looking to make a significant impact.

6. Credibl – Carbon Accounting Simplified for Businesses

Credibl focuses on making carbon accounting straightforward and accurate for businesses of all sizes. With its intuitive interface, Credibl allows companies to track emissions, assess their carbon impact, and comply with global sustainability standards. It’s a practical tool for businesses aiming to streamline their carbon reporting efforts and integrate sustainability into their operations.

7. Measurbl – Data-Driven Sustainability for Real Estate

Measurbl provides a comprehensive sustainability platform specifically designed for the real estate industry. It collects real-time data to track energy, water, and waste, helping property managers reduce their environmental footprint. With its focus on transparency and actionable insights, Measurbl enables real estate companies to meet both their sustainability goals and regulatory obligations.

8. Unravel Carbon – End-to-End Emissions Tracking

Unravel Carbon is an AI-powered platform that helps companies track their emissions across the entire value chain. From operations to supply chain emissions, Unravel Carbon offers real-time data to provide actionable insights and help companies meet net-zero goals. It’s designed to make emissions tracking both efficient and comprehensive, ensuring companies stay aligned with sustainability regulations.

9. Diligent – ESG Management

Diligent provides a robust ESG platform focused on corporate governance and sustainability. With real-time tracking and insights into key environmental, social, and governance metrics, Diligent supports organizations in improving their sustainability performance and meeting regulatory compliance standards.

10. Intelex – ESG & Sustainability Software

Intelex delivers a powerful platform for managing ESG data, ensuring that businesses stay compliant with regulations while driving sustainability improvements. Its wide-ranging capabilities support everything from emissions tracking to health and safety monitoring, making it a versatile tool for companies across various industries.

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Sustainability management software is an essential tool for businesses looking to reduce their environmental impact, meet regulatory demands, and improve transparency. Whether you choose Accacia for real estate decarbonization, Persefoni for real-time carbon tracking, or Salesforce Net Zero Cloud for carbon accounting, the right platform can help you achieve your sustainability goals more efficiently.

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Explore how Accacia can help decarbonize your real estate portfolio and lead you toward a greener future. Contact us today!

The real estate industry faces a critical challenge as climate risks grow in frequency and intensity. As global warming accelerates, environmental changes—rising sea levels, increased storm frequency, and extreme temperature shifts—are reshaping real estate investment strategies, asset valuations, and urban development. The future of real estate now hinges on how well stakeholders integrate climate risk into their decision-making processes.

The growing impact of climate risk on real estate in Singapore

Historically, real estate decisions in Singapore have been driven by economic fundamentals, government planning, and market trends. However, as physical risks associated with climate change become more evident, investors, developers, and asset managers in Singapore are rethinking their approaches. These risks include direct threats such as property damage from flooding and rising sea levels, as well as indirect factors like evolving regulations, insurance costs, and shifting demand.

Singapore’s low-lying areas and coastal properties, once considered premium real estate, face growing concerns as the city-state grapples with the implications of sea-level rise. Government initiatives like the Coastal and Flood Protection Fund, which allocated S$100 billion for long-term resilience measures, underscore the serious threat posed by climate change. As a result, real estate stakeholders must assess how climate risk could affect both property values and future developments.

Regulatory pressures and ESG considerations

Singapore has been proactive in addressing climate-related risks through policy and regulation. The Building and Construction Authority (BCA) has introduced green building standards, while the government’s push for Environmental, Social, and Governance (ESG) integration in the financial sector is influencing real estate investments. These regulations, coupled with investor demand for sustainable assets, are driving real estate players to adopt ESG criteria more rigorously.

With initiatives like the Green Mark certification and the Singapore Green Plan 2030, property owners and developers are incentivized to design and manage buildings with climate resilience in mind. Meeting energy efficiency, water conservation, and climate adaptation standards not only enhances resilience but also positions properties more favorably in the market.

Climate risk assessment and technology’s role

Accurate climate risk assessment is crucial for informed decision-making in Singapore’s real estate market. Traditional valuation models often overlook long-term environmental impacts. However, advances in data analytics, geographic information systems (GIS), and climate modeling tools are helping stakeholders predict how climate factors will influence property values and resilience. In Singapore, digital platforms and smart city initiatives are being leveraged to integrate climate intelligence into urban planning and development strategies.

Moreover, the use of technologies like AI-driven data platforms is allowing developers and investors to analyze environmental risks at a granular level. These tools offer insights into flood-prone areas, heat island effects, and future climate scenarios, helping industry players mitigate risks and identify resilient investment opportunities.

Shaping the future of real estate investment in singapore

The real estate sector in Singapore is at a turning point where inaction could lead to significant financial and environmental costs. Investors, developers, and asset managers must prioritize resilience and adaptability as climate risks grow. In a market where sustainable and climate-resilient properties are increasingly rewarded, integrating climate risk into portfolio strategies is no longer optional—it’s essential.

The Canadian Standard on Embodied Carbon in Construction is a crucial legislation that provides a comprehensive framework for addressing carbon emissions in construction projects. It mandates stakeholders to measure, disclose, and mitigate embodied carbon throughout the project lifecycle. Compliance with this standard demonstrates a commitment to environmental stewardship and supports Canada’s sustainability goals. By promoting the use of low-carbon materials and efficient building techniques, it fosters a transition towards a more sustainable built environment.

The Standard on Embodied Carbon in Construction includes the following requirements:

• Disclose the carbon footprint of structural materials
• Reduce the carbon footprint of structural materials
• Ensure that structural materials are specified by a professional engineer registered or licensed in the province or territory where the project will be implemented; and
• Review the completed Embodied Carbon Disclosure Template (refer to the Embodied Carbon Project Disclosure Template) before project completion to ensure compliance with disclosure and reduction of carbon footprint of this standard;

Further these should include the following requirements in the procurement of construction services:

• Ensure that the Embodied Carbon Disclosure Template (refer to the Embodied Carbon Project Disclosure Template) is secured by the organization before project completion, and that it lists the required information for each type of material identified
• Disclose the embodied carbon footprint of structural materials measured in global warming potential (GWP) with Environmental Product Declarations (EPDs) that:
• Reference the material supplier’s name or professional association as a contributor;
• Comply with international standards within the period of validity; and
• Are produced using the highest available resolution life cycle inventory (LCI) data
• Where EPDs are not readily available, provide a life cycle assessment (LCA) report that complies with international standards (International Organization for Standardization (ISO) 14044, ISO 14025, and ISO 21930 or equivalent) and that is verified by an LCA reviewer as such a report is considered an acceptable equivalent form of disclosure.
• Finally, submit to the Treasury Board of Canada Secretariat, at the time of the annual call letter of the Greening Government Strategy, a consolidated report that details the embodied carbon footprint for all construction projects completed in the previous fiscal year that meet or exceed the thresholds. This information may be used for other reporting obligations under the Federal Sustainable Development Strategy.

Application

This standard applies to any new construction or renovation of real property in Canada at or above the thresholds at the time of solicitation of design services.

Greenhouse Gas Reduction Requirement

For design services solicited on or after December 31, 2022, the embodied greenhouse gas (GHG) emissions of procured ready-mix concrete shall be disclosed on a project basis and be substantiated with EPDs Project GHG emissions from ready-mix concrete are the sum of GHG emissions from all mixes used, calculated using the global warming potentials (GWPs) and volumes of each mix placed. The total project GHG emissions from ready-mix concrete shall be at least 10% less than those calculated using the GWPs of the baseline mix in the Regional Industry Average Environmental Product Declaration (EPD) for the strength class of each mix and the volume of mix placed (see equations 1 and 2). The Embodied Carbon Disclosure Template must be used to demonstrate this outcome.

Equation 1:

Equation 2:

Where: Carbon dioxide equivalent (CO2e) baseline represents the emissions calculated by the volumes of all the mixes used in the project multiplied by their regional average GWP as represented by:

CO2e project represents the emissions from the concrete used in the project calculated by the volumes of all the mixes used in the project multiplied by their GWP as represented by:

n = the total number of concrete mixes used in the project

Vol n = the volume of mix n (concrete to be placed)

GWPn = the global warming potential of mix n

BaseGWPn = the global warming potential of the regional baseline mix taken from the Regional Industry Average EPD for the strength class of mix n

Resources

Environmental Product Declaration Product Category Rules

• Current versions of NSF International’s Product Category Rule (PCR) for Concrete
• International Organization for Standardization (ISO) 14025 Type III

Standards for Environmental Product Declaration

• Type II EPDs conforming to ISO 14021:2016 and ISO 21930:2017 may be used to substantiate the global warming potential (GWP) of materials used in a project if the Type II EPDs provide higher resolution than the available Type III EPDs and if the Type II EPDs were created using an independently verified tool
• Carbon capture utilization and storage (CCUS) technologies are used to reduce the GWP of a portion or all concrete supplied to a project, such as through carbon mineralization, a product-specific EPD shall be provided to substantiate the associated reduction in GHG emissions

Embodied Carbon Project Disclosure Template

The Embodied Carbon Project Disclosure Template must be completed for every applicable project to demonstrate that the requirements of the standard were met. The completed template is to be secured by the organization before project completion.

Embodied Carbon Project Disclosure Template:

Accacia: Embodied Carbon Compliance Solution

Accacia is an AI-enabled SaaS platform that helps developers manage, report & reduce the embodied carbon of their projects.

The platform tracks embodied carbon emissions from various design and construction stages of the assets:

• Concept Stage
• Design Stage
• Technical Stage / Pre- Construction
• Construction Stage

A structural engineer/ designer/ architect can optimise the design for lowest carbon emissions, further the platform can provide suggestion on alternate materials with lower global warming potential value.

This information can be used to reduce the overall environmental impact of the project. Once optimized, developers can implement these changes in construction, ensuring that their projects meet the Canadian Embodied Carbon standard criteria.

New York City has established itself as one of the largest and most influential real estate markets worldwide. Its impressive accomplishments range from constructing some of the world’s earliest skyscrapers and most attractive public spaces to attracting leading investors, owners, tenants, and residents from around the globe. Given its significant influence, it’s no surprise that New York City is taking the lead in addressing one of the most significant challenges of our time: greenhouse gas (GHG) emissions resulting from real estate operations.

As the largest contributor to the city’s GHG emissions, real estate operational emissions, both for residential and commercial buildings, need to be addressed on an ambitious scale. This is where NY Local Law 97 (LL97) comes into play. LL97 is part of NYC’s Climate Mobilization Act and sets carbon emissions caps for energy use in New York City’s large buildings starting from 2024. The law aims to bring down emissions by 80% by initiating limitations on building emissions, encouraging building owners to embrace sustainability, and shift towards energy-saving methods and renewable energy use in their buildings.

LL97 has far-reaching implications on building owners and managers in NYC. Building owners and managers must demonstrate energy reduction by at least 40% from 2024 onwards, rising to at least 80% from 2029 onwards. This is a highly ambitious target, which is precisely what is needed to make a significant contribution towards reversing the impact of climate change.

  The law requires significant investments in upgrading some of the aging building stock to energy-efficient HVAC systems, better building controls, and reduction in energy wastage, as well as a shift to non-fossil fuel-based energy. For most building owners and managers, this will mean significant upfront costs for these upgrades, and LL97 leaves no choice but to make these investments. Non-complying buildings will face heavy penalties and legal action, leaving no room for half measures, partial investments, or failing to meet the reduction targets. It’s important for building owners to understand the penal implications that come with LL97, and it comes in various forms:

• If owners/managers of buildings covered under law don’t report emissions, the fines are levied @ $0.5/ sqft / month. While that doesn’t look like a big number upfront, imagine that you own a 100k sqft building in NY, that penalty adds up to $50k/month or $600k/year in fines. And that’s simply for not reporting emissions.
• The other scenario is that a building owner invested in decarbonization but took half measures and eventually failed to meet the emission reduction targets. The penalties still apply and they’re not insignificant by any means – $268 for every tCO2e above the limit during the first period of 2024-2029. The penalty for the second period (2030-2034) is likely to be higher.

LL97 received a warm welcome from climate activists and is hailed as one of the biggest single carbon reduction efforts ever undertaken. Comprehending a law that impacts so much of New York city’s building environment will be extremely critical over the next 20 years. It would be of no surprise LL97 will set the landscape for more such legislations to get passed across the United States and other regions.

Climate change, previously a relatively peripheral concern for many real-estate players, has moved to the top of the agenda. Investors committed to net-zero, regulators set reporting standards, governments targeted emissions with laws.

The first step for financial institutions to manage risk, uncover opportunities related to greenhouse gas emissions, and embark on the path to decarbonization is to measure the emissions linked to their financial activities.

SGX’s sustainability knowledge hub aims to provide a one-stop information platform for easy access to the latest sustainability-related publications, engagement, disclosure standards and frameworks, and resources on key topics