Buildings have a carbon problem. They
contribute 37% of global emissions, if you
include producing and transporting the
materials that went into them. And while
tackling building emissions is already a
challenge, the built environment is set
to get a lot bigger. Space equivalent to
the surface of Paris will be added to
the world's building stock every week
through 2050. If we're to get to Net
Zero we'll have to ensure buildings are
sustainable. The good news is we already
have the know-how to make that happen.
What will help? Targeted investments that
support building sustainability. That
includes investing in deep retrofits
since most of the buildings that will be
standing in 2050 are already built. It
includes investing in more sustainable
construction materials and producing
others in ways that are less carbon
intensive. We'll also need to deploy
technologies that help us better reduce
and track energy and water usage in
buildings, turning occupants into allies
in reducing building emissions. And
finally we'll need to scale the district
energy systems that enable buildings
near each other to harness the same
local energy source.
Investing in building sustainability is
about more than reducing emissions; it's
also good business. Sustainable buildings
command higher asset values and have
lower operating costs. At Ontario
Teachers' Pension Plan, we're deploying
our capital to help reduce the emissions
associated with buildings. Whether it's
by investing in sustainable timber in
the U.S or expanding deep lake cooling
in Canada, or installing smart meters in
apartment buildings in Europe, or working
to prepare buildings for a cleaner
future. Because for us the future of
sustainable buildings is already here.