Worcester, Lowell Eyed As Next Big Lab Clusters As Costs Rise In Urban Core

Another sizable project has been added to the development pipeline in Allston. A joint venture of Hines and Calare Properties filed a letter of intent Wednesday with the Boston Planning & Development Agency for a 310K SF multifamily development. The site sits on two parcels…

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Reliable IT infrastructure has joined traditional workplace amenities such as free snacks and casual Fridays as a way to attract today’s connected tenants. While it's common to experience poor cellular service, both workers and employers are becoming increasingly reliant on their mobile devices for everyday business operations, strengthening the need…

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An investigation into the carbon reduction policies of the world's 75 largest real estate owners and managers shows that if regulators push the sector to cut emissions faster, it will comply.

But until a harder push comes along, CRE will do only what it is obligated to by law. 

Bisnow data shows that where clear regulation is enforced, real estate owners are taking action to reduce their greenhouse gas emissions. Yet more stringent regulations would compel them to cut emissions more deeply and quickly, according to several investors interviewed for this investigation.

“The only way to get everyone to cut 10 years off their target is regulation,” Orchard Street Investment Management Head of Sustainability Lora Brill said. “You have to make holding high-carbon properties unviable or reward holding low-carbon properties.”

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The carbon reduction targets put in place by the world’s biggest property owners and managers don’t include almost 90% of the emissions they create, an investigation by Bisnow has found. 

The vast majority of the world’s 75 largest institutional investors, REITs and investment managers neither track the emissions created by the tenants of their buildings nor the carbon created during the development of buildings. 

Even among the companies that have set targets to decarbonize their portfolios, less than a quarter count these emissions, which are referred to as Scope 3, as part of their stated campaign to reach net-zero. 

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