Climate change is scenario that is visible, destructive and growing with fast pace. Climate change is due to Green House Effect which is paramount to keep the earth warmer, but upto some level. It is the risk for most but may be an opportunity for few, but overall having the capacity to destroy the earth. Almost every business is getting affected by Climate change impact directly or indirectly. It is a time to come together, both individuals and corporations can contribute to reducing carbon mitigation. Corporations should proactively tackle their carbon footprint, embrace sustainable practices, and work together to fight climate change.

Working in real estate, the effects of climate change were clear: from smart buildings to energy-efficient solutions and changing commute patterns. A notable trend was the rising demand for AC units and higher electricity costs from summer to fall, due to extreme weather. Moreover, the growing discussion on how climate risks like floods and fires affect insurance and property values is critical. Are our property valuations accurate in the face of increasing climate events? Who bears the cost of repairs?

Climate change significantly impacts our company's carbon footprint across various aspects of our operations. Rising temperatures and extreme weather events can disrupt supply chains, leading to increased transportation emissions as we seek alternative sources or routes for materials. Additionally, changes in precipitation patterns affect energy production, potentially leading to higher emissions from reliance on non-renewable sources. Moreover, heightened heat can increase energy demands for cooling systems in our facilities. Addressing climate change through sustainable practices becomes imperative not only to mitigate environmental impact but also to adapt and ensure the resilience of our operations amidst changing climatic conditions.

Climate change refers to significant alterations in global temperatures and weather patterns over time, primarily due to human activities such as burning fossil fuels, which increase greenhouse gas emissions. Its impact on business is multifaceted, including disrupted supply chains due to extreme weather events, increased operational costs from changing regulatory landscapes aiming to mitigate climate effects and shifting consumer preferences towards more sustainable products and services. Companies are thus compelled to adapt by innovating in sustainability, enhancing resilience against climate-related disruptions, and navigating new market opportunities in a low-carbon economy.

Climate change impacts a company's carbon footprint in various ways, through changes in weather patterns, resource availability, and regulatory frameworks. For example, extreme weather events like hurricanes or droughts can disrupt supply chains, leading to increased emissions from transportation or production activities. Additionally, regulatory changes aimed at reducing greenhouse gas emissions may require companies to invest in cleaner technologies or adjust their operations to comply with new standards, affecting their carbon footprint. Moreover, shifting consumer preferences towards sustainable products and services may influence companies to adopt greener practices to remain competitive, further impacting their carbon footprint.

A carbon footprint refers to the total amount of greenhouse gases, particularly carbon dioxide, emitted directly or indirectly by an individual, organization, event, or product. These emissions contribute to climate change by trapping heat in the atmosphere, leading to global warming, sea level rise, and extreme weather events. Understanding and reducing our carbon footprint is crucial for mitigating climate change and preserving the environment for future generations. By adopting sustainable practices, such as using renewable energy sources, reducing waste, and embracing eco-friendly transportation, we can collectively minimize our carbon footprint and work towards a more sustainable future.

Carbon footprint measures carbon dioxide emissions caused directly or indirectly by entities like individuals or products. In real estate, this includes emissions from building materials such as concrete and pipes, and extends to furniture and contractor commutes. Moreover, built or renovated properties continue to emit through heating, cooling, and electrical usage. Look around your home or office and ponder its carbon footprint. What was emitted to create your living or work space? The next step is maximizing its use over time to minimize further emissions, promoting sustainability.

Begin by defining the scope of emissions, including distinguishing between direct emissions (Scope 1), indirect emissions from purchased energy (Scope 2), and all other indirect emissions within your value chain (Scope 3). Next, collect data on all relevant activities that contribute to GHG emissions. Then, choose an appropriate GHG emissions calculator or methodology that aligns with international standards, like the GHG Protocol, to accurately convert this data into carbon dioxide equivalent units (CO2e). This process involves applying specific emission factors to your activity data, enabling you to quantify the total GHG emissions and understand your company's environmental impact.

Take shopping malls as an example of how to manage carbon emissions: Scope 1 ('Burn It'): include direct emissions from on-site sources, such as natural gas used in boilers for heating. Scope 2 ('Buy It'): cover indirect emissions from purchased electricity, which powers lighting and HVAC systems. Implementing solar panels can reduce Scope 2 emissions by decreasing the amount of electricity a mall needs to purchase. Scope 3 ('And Beyond...'): encompasses all other indirect emissions not directly controlled by the mall. There include emissions from the production of materials used in the mall, electricity usage by tenants, transportation of goods, and the carbon footprint from all food and fashion products sold within the mall.

Reducing your company's carbon footprint is essential for environmental sustainability and corporate responsibility. Start by conducting an energy audit to identify areas of high consumption. Implement energy-efficient practices such as using LED lighting, optimizing heating and cooling systems, and investing in renewable energy sources. Encourage telecommuting and carpooling to reduce emissions from employee commuting. Minimize paper usage by transitioning to digital documents and recycling whenever possible. Partner with eco-friendly suppliers and engage employees in sustainability initiatives. By taking proactive steps, your company can significantly decrease its carbon footprint and contribute to a greener future.

Focus on implementing strategies such as improving energy efficiency through upgrades and optimized schedules, investing in renewable energy sources, promoting sustainable transportation options like carpooling and telecommuting, implementing waste reduction and recycling programs, optimizing your supply chain, prioritizing sustainable procurement practices, adopting green building design principles, engaging employees in sustainability initiatives, and offsetting unavoidable emissions through carbon offset projects. These measures can contribute to significant reductions in your company's carbon emissions, demonstrating a commitment to environmental responsibility while potentially reducing operational costs, enhancing brand reputation.

Let's consider how shopping malls can reduce their carbon footprint: Scope 1: Opt for renewable or low-carbon fuels. Installing heat pumps or solar panels helps cut direct emissions significantly. Scope 2: Beyond installing solar panels, malls should consider purchasing green energy. This reduces the need for externally sourced electricity and supports the use of low-carbon construction materials. Scope 3: This category is the toughest to manage. Malls can set contractual obligations for tenants to use energy-efficient products, like LED lighting. Encouraging tenants, such as supermarkets, to stock locally sourced foods can also diminish indirect emissions.

Reducing your company's carbon footprint benefits the environment and yields numerous advantages for your business. Adopting eco-friendly practices can enhance your brand image, attract environmentally-conscious customers, and differentiate yourself from competitors. Additionally, implementing energy-efficient measures and reducing waste can lead to significant cost savings in the long run. Moreover, prioritizing sustainability can boost employee morale and productivity, as workers are more likely to be engaged and proud of their company's commitment to environmental stewardship. Embracing sustainability isn't just a responsibility; it's a strategic move that can drive growth & profitability while contributing to a healthier planet.

Reducing your company's carbon footprint can yield several benefits, including: -Cost savings through improved energy efficiency Enhanced reputation and attractiveness to stakeholders -Regulatory compliance and risk mitigation Opportunities for innovation and new business models -Competitive advantage in the market -Long-term resilience against climate-related risks Overall, reducing your company's carbon footprint not only contributes to environmental stewardship but also offers tangible business benefits that can lead to long-term success and sustainability.

Let's look at additional measures in mall. Sustainable Waste Management: Implement comprehensive recycling and composting programs, waste reduction such as minimize packaging. Water Conservation: Create water-efficient environment and practices to reduce water use, which is also linked to energy consumption for heating and treating water. Sustainable Transportation: Promote public transportation, carpooling, and electric vehicle charging stations to reduce the carbon footprint associated with customer and employee travel. Customer Engagement: Engage shoppers through educational campaigns about the mall’s sustainability initiatives and how they can contribute, such as participating in recycling programs or supporting eco-friendly stores.