TH Real Estate has announced its ambition to cut the energy intensity of its portfolio by 30% by 2030. Based on its 2015 baseline, the affiliate of Nuveen commits to improving the sustainability of its 134 million square foot portfolio worth $68 billion in global equity.
Energy Intensity is the assets use of kilowatts per hour, per square foot. Therefore reducing this rating will reduce the amount of energy TH Real Estate’s portfolio uses. This will in turn lower the amount of pollution created by the company. This announcement is an advancement on the company’s previous efforts to increase sustainability and to reduce the risk as well as the impact of climate change.
This new announcement comes after the Paris Conference of Parties in September 2015. The 21st annual Conference set ambitious goals for more sustainable real estate. Real estate is estimated to be responsible for 40% of the world’s carbon emissions. Examples for emissions being so high includes fuel usage, for boilers etc., and also electricity and other energy sources. In order to reduce carbon emissions it if vital to start using energy more efficiently. Reducing the amount of energy used I a household will also reduce bills for the consumer, so there are several advantages to TH Real Estate’s plans.
TH Real Estate is one of the world’s largest institutional real estate investors. The company has almost 900 office, retail, residential and industrial assets worldwide. Therefore, employing these sustainability measures could make a massive difference to the environment. This could also lead to positive results for the economy as well as benefits for individual tenants.
TH Real Estate has a ‘Tomorrow’s World’ philosophy which actively seeks to improve the sustainability of the company. This allows the company to keep preparing for the future, as well as increasing the value of their assets fo their clients by investing in more sustainable products.