Building Lower-Carbon Spaces

Incorporated carbon is and will remain a significant source of our emissions, especially for our renovation and new development activities. We will measure and reduce incorporated carbon for our new developments and renovations, as well as that incorporated in all our activities. In this regard, we will closely collaborate with our partners and suppliers to identify and provide new, innovative materials and technologies with reduced carbon emissions.

Greenhouse gas (GHG) emissions from the construction ecosystem are primarily determined by two components: the extraction and processing of raw materials for building and associated infrastructure construction (approximately 30% of total annual construction emissions, largely cement and steel), and the operation of buildings during their use (approximately 70%). Considering the typical asset lifespan of 30 to 130 years, we cannot wait to replace products at the end of their life cycle if we aim to achieve climate change mitigation goals by 2040.

The contribution from raw materials mainly comes from cement production, which requires high energy consumption, and through metals (approximately 50% of global steel production is used for construction), which contribute nearly 7% to global GHG emissions.

In this context, design is the most important factor in determining GHG emissions over a building's lifespan. By the time the construction process begins, most decisions affecting the project's GHG emissions are already made. The ability to influence emissions over a building's lifespan is greatest at the project's inception and before construction begins.

That's why we are committed to designing, developing, and managing spaces to combat climate change, improving environmental health by achieving net-zero levels and going beyond.

We will collaborate with our partners and suppliers to find and provide innovative materials and techniques with reduced carbon emissions to decrease the incorporated carbon emissions in our future projects.