🏡 A blow to the EPA
And what it could mean for other climate regulation...
Dear readers,
Whether you noticed it or not, we went on a midyear 2 week hiatus. Andddd we’re even sending this out on Tuesday.
We wanted to let you know that we are working on restructuring and reformatting these newsletters to make them even more useful for you, our readers.
Thank you for your continued loyalty and we can’t wait to share what’s next!
Today’s newsletter will take ~ 2.5 minutes
Trends
A new McKinsey report points to how real estate companies should preemptively act on the upcoming SEC climate disclosure
Under the proposed legislation, the majority of real estate owners and users would have to disclose material carbon emissions from scopes one, two, and three, their material impacts, and transition plans to adhere to respective net-zero goals.
The legislation would be the first comprehensive step towards climate accountability enforced by the government.
The potential adoption of this legislation would follow the lead of the EU and could create a “Great Repricing,” as climate and legislative risks are incorporated to property prices, accounting for updates and retrofits.
Developments
U-City, a mixed use development, achieves official carbon neutral status
Located in Adelaide, the building boasts specialized living accommodations for retirees and those with physical and mental accessibility needs in addition to a variety of retail offerings and venues spaces. The Carbon Neutral Building Certification awarded makes the building the first in South Australia to receive the award.
Technology
Vantem raises Series A of $10.1m on July 7th
Led by Bill Gates’ Breakthrough Energy Ventures, the new funding seeks to help Vantem further develop their streamlined, energy-efficient prefab construction model. The panelization process allows for a tight envelop, allowing high efficiency and enabling net-zero to be even easier to achieve.
BBVA to join forces with VC firm Fifth Wall
The banking giant is aiming to align a strategy for its continued net-zero transition by investing in property and climate tech solutions.
Legislation
The Supreme Court ruled to curb the EPA’s ability to regulate emissions under the Clean Air Act. The ruling significantly inhibits the EPA from accomplishing its mission to “Protect the environment,” and “ensure that Americans have clean air, land, and water.”
Quick Takes
Why the RE industry is slow to adapt to the climate crisis
Why refrigerators are enemy #1 for home emissions
Fact for Thought
According to JLL, approximately 80% of our existing building stock will be standing in 2050. At the same time, the vast majority of the cities in which these buildings stand have outlined goals for all their buildings to become net-zero by 2050.
It’s a big pill to swallow, but it just goes to show how much innovation we need.
Drop a comment!