What are the best ways to promote sustainable real estate practices in local communities?

My corporate real estate and sustainable built environment experience saw the impact of awareness raising and capacity building in overcoming cost and complexity barriers to green building adoption. Awareness raising shifts the cost narrative to long-term savings, toward a solid business case for green. Capacity building ensures sustainability beyond the initial boardroom handshake. A whole ecosystem approach moves mountains. An actual case: a client, presented with a slide of perspectives on green from a commercial real estate advisor, a real estate investor, and their key tenant, publicly committed to portfolio decarbonization. This shows the influence that stakeholder insights can wield in driving decisions toward positive impact.

I've often emphasized that the sustainable built environment relies equally on green technical design and sustainability communications. Advocating the business benefits of green practices persuades decision-makers to commit to public climate actions. This commitment, in turn, encourages more demonstration projects. However, the audience has become more discerning. In the end they will hold you to your promise, but in the meantime, they also pay attention to measurable or tangible impacts of these green measures. How much is the green retrofit going to cost, what are the long-term savings, and how long is the payback period? What potential reduction in carbon emissions could these green interventions generate?

Incorporating green measures into a project and obtaining third-party validation to prove their impacts shouldn't follow a rigid process or specific rules. A project's green classification shouldn't be confined to predefined design interventions. Flexibility is key for two important reasons. Real estate projects come from diverse contexts: typology, climatic conditions, income segments. Ensuring equal access for all income segments to engage in green practices is crucial for achieving net zero. For instance, allowing cost-effective solutions like smart metering in affordable housing. Additionally, flexibility nurtures innovation, fostering novel approaches and solutions, such as integrating vertical gardens in urban low-cost developments.

Advocacy and influence are crucial to create an enabling environment, especially for segments finding the transition to green challenging. Although much has been accomplished in making green more accessible, the truth is it still tends to require an upfront cost. Government support through subsidies or grants can alleviate these financial constraints. Additionally, incentives from governments and regulators encourage green design among developers. Employing a mix of incentives and regulations forms a "carrot and stick" approach in policymaking, encouraging compliance and progress towards sustainability goals while dissuading unsustainable practices. These also don't need to be financial incentives or penalties.