In metropolitan cities like Bengaluru, the population is increasing exponentially as more people migrate for better job opportunities. This surge has fueled the rapid construction of residential and commercial buildings, which consume vast amounts of energy for heating, cooling, and lighting. Additionally, the use of carbon-intensive materials during construction further amplifies the sector’s environmental impact. According to a report published by the United Nations Environment Programme, the real estate sector is responsible for approximately 40% of global carbon emissions.
[source](https://www.unepfi.org/themes/climate-change/climate-risks-in-the-real-estate-sector/)
To combat climate change, it’s essential to reduce the carbon footprint of real estate businesses through decarbonization—the process of minimizing carbon dioxide and other greenhouse gas emissions. Achieving net-zero carbon emissions requires immediate and significant efforts to decarbonize the sector. In this article, we explore the impact of real estate on global warming and outline strategies to achieve decarbonization.
How Real Estate Contributes to Global Warming?
The real estate sector contributes to global warming in several ways:
1. Unsustainable Buildings
Unsustainable buildings, or “brown buildings,” have large carbon footprints due to the use of carbon-intensive materials like steel and concrete. The production of these materials emits significant amounts of carbon dioxide. Furthermore, daily energy consumption in these buildings adds to global emissions. Modern buildings’ electricity use alone accounts for about 4% of total carbon emissions. Additionally, air conditioning systems in such buildings release heat into the atmosphere, further exacerbating temperature increases.
2. Heat Island Effect
Rapid urbanization and poor infrastructure planning have turned cities like Bengaluru into concrete jungles. The dense concentration of buildings traps heat, creating “heat islands” where urban temperatures are significantly higher than in surrounding rural areas. This effect worsens the overall impact of global warming in metropolitan areas.
3. Deforestation
Real estate development often involves deforestation, removing trees that play a critical role in regulating climate. Housing developments now cover about 68% of artificial land, contributing to environmental degradation in the following ways:
- Reduced Absorption of Carbon Dioxide: Trees are natural carbon sinks that absorb carbon dioxide and release oxygen. Cutting down trees for construction disrupts this balance, increasing atmospheric carbon and contributing to global warming.
- Decreased Air Quality: Forests filter pollutants from the air, maintaining lower carbon levels. Their removal leads to poorer air quality and increased pollution.
- Reduced Rainfall: Forests contribute to the formation of water vapor, clouds, and rainfall. Deforestation disrupts this process, reducing soil moisture, leading to less cloud formation and rainfall, and causing drier conditions that exacerbate heat absorption.
- Loss of Natural Coolants: Trees block solar radiation, preventing excess heat from reaching the ground. Without this natural cooling, urban areas become significantly hotter, contributing to the warming of cities.
Strategies to Achieve Decarbonization in Real Estate
1. Green Buildings
Environmentally conscious individuals should opt for green buildings designed with sustainability in mind. These structures use eco-friendly materials such as wool, wood fiber, bamboo, and corkwood, which have lower carbon footprints. Green buildings often incorporate renewable energy sources like solar panels and geothermal systems, further reducing their environmental impact.
2. Smart Building Technology
Smart building systems leverage interconnected devices, advanced software, and AI to enhance energy efficiency. Technologies like automation, smart sensors, and IoT devices monitor and control operations such as heating, ventilation, lighting, and air conditioning. These buildings are not only energy-efficient but also environmentally friendly, reducing the overall carbon footprint.
3. Use of Artificial Intelligence and Machine Learning
AI and machine learning can analyze energy usage, identify sources of emissions, and recommend solutions for carbon reduction. Real estate owners can conduct decarbonization audits, and advanced algorithms can review the data to help achieve net-zero emissions in the future.
Benefits of Green Real Estate for Builders
Embracing sustainable practices in construction benefits not only the environment but also builders and developers:
Financial Benefits:
1. Reduced Operational Costs: Green buildings can cut operational costs by 20-25% due to energy-efficient features, with a typical payback period of 2-3 years.
2. Increased Property Values: Green buildings have higher market values due to their environmental and cost-saving benefits.
3. Government Incentives: The Indian government offers tax incentives and subsidies for IGBC-rated green buildings, including property tax reductions and stamp duty discounts.
4. Higher Rental and Resale Values: Sustainable features make green buildings more attractive, commanding higher rental and resale values.
5. Lower Building Costs: Using innovative materials like geopolymer concrete and autoclaved aerated concrete blocks reduces construction costs while maintaining quality.
6. Marketability: The demand for green buildings is rising as more consumers prioritize sustainability, making them easier to sell or lease.
7. Reputation: Green projects often receive positive media coverage and public recognition, enhancing the builder’s reputation and credibility.
Conclusion
The alarming rise in global carbon emissions calls for immediate action. To address the current climate crisis, real estate professionals must prioritize decarbonization efforts to achieve net-zero emissions. Going green not only benefits the environment but also offers substantial financial and reputational advantages for builders. At the end of the day, preserving our environment matters more than anything else.