Commercial Real Estate Asset Managers Fall Short on Net-Zero 2030, 2050 Goals
A recent survey of asset managers reveals a mixed outlook on meeting net-zero carbon emissions targets in the commercial real estate sector. While some progress is expected, the majority of portfolios are unlikely to meet the 2030 and 2050 goals.
According to the survey, nearly all commercial real estate assets managed by professionals are projected to miss their 2030 carbon emissions reduction targets. Only 5% of portfolios are expected to meet the 50% emissions reduction target by the end of this decade.
Looking ahead to 2050, fewer than 7% of surveyed asset managers anticipate their portfolios will reach net zero. However, a quarter of managers expect between 61% and 80% of their portfolios to be net zero by this date. More optimistically, over a third of respondents expect between 41% and 60% of their property investments to be net zero by 2050.
In summary, while there is some optimism among asset managers regarding long-term net-zero targets, the majority of commercial real estate portfolios are unlikely to meet the 2030 and 2050 emissions reduction goals. This suggests a need for increased effort and innovation in the sector to accelerate the transition to a low-carbon economy.
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