Fifth Wall and EY Launch Interactive Climate Impact Tools for Real Estate
Ernst & Young (EY) US has announced a strategic partnership with Fifth Wall, a venture capital firm specializing in property technology and real estate, to launch a suite of interactive tools designed to help businesses understand and reduce carbon emissions. This collaboration aims to heighten awareness and facilitate the mitigation of the real estate sector's significant impact on climate change. The initiative was prompted by data showing that commercial buildings account for approximately two-thirds of greenhouse gas emissions in New York, alongside legislative efforts to achieve carbon neutrality by 2050. The resulting platform, titled 'A Climate-Positive Future for Real Estate,' offers an interactive map for assessing carbon tax exposure, guidance on developing carbon reporting strategies, insights into emission-reducing technologies, and a calculator for understanding the financial impact of emission taxes. Mark Grinis, EY Americas Real Estate Leader, emphasized that the tool provides frameworks for decarbonization through legislation, strategy, and technology. This launch occurs amidst a broader trend where ESG assets constitute more than half of assets managed by U.S. institutional real estate investors, highlighting the growing importance of sustainability in the industry.
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Fifth Wall and EY Launch Interactive Climate Impact Tools for Real Estate
Ernst & Young (EY) US has announced a strategic partnership with Fifth Wall, a venture capital firm specializing in property technology and real estate, to launch a suite of interactive tools designed to help businesses understand and reduce carbon emissions. This collaboration aims to heighten awareness and facilitate the mitigation of the real estate sector's significant impact on climate change. The initiative was prompted by data showing that commercial buildings account for approximately two-thirds of greenhouse gas emissions in New York, alongside legislative efforts to achieve carbon neutrality by 2050. The resulting platform, titled 'A Climate-Positive Future for Real Estate,' offers an interactive map for assessing carbon tax exposure, guidance on developing carbon reporting strategies, insights into emission-reducing technologies, and a calculator for understanding the financial impact of emission taxes. Mark Grinis, EY Americas Real Estate Leader, emphasized that the tool provides frameworks for decarbonization through legislation, strategy, and technology. This launch occurs amidst a broader trend where ESG assets constitute more than half of assets managed by U.S. institutional real estate investors, highlighting the growing importance of sustainability in the industry.
FinLedger