February 22, 2022
An interesting article by McKinsey on: How will climate change affect real estate?
The net-zero transition is now top of mind for many in the industry. It’s no wonder: building climate intelligence will be central to value creation and strategic differentiation in real estate. The industry will also be crucial to mitigation efforts, considering that real estate drives nearly 40 percent of total global emissions. This new article lays out three actions that can help real-estate players make the climate transition—don’t miss it.
McKinsey research estimates approximately $9.2 trillion in annual investment will be required globally to support the net-zero transition. If the world successfully decarbonizes, the 2050 economy will look fundamentally different from the current economy. If it doesn’t successfully decarbonize, the world will experience mounting physical risks that will strain the foundations of the global economy and society. In either case, the places where people live, work, shop, and play will fundamentally change.
Read the full article here.