• 0
  • Home
  • About Us
  • What We Do

Shopping Cart

GPAM
  • Home
  • About Us
  • What We Do

Building owners crucial to Biden’s climate goals

President Biden at the Leaders Summit On Climate. (Getty)
President Biden at the Leaders Summit On Climate. (Getty)

If President Joe Biden is to slash the country’s greenhouse gas emissions in half by 2030, he will need a lot of help from residential and commercial buildings owners.

The president announced the goal, which is based on 2005 emission rates, Thursday during a global climate summit. The new target greatly accelerates the Obama administration’s reduction target of 25 percent by 2025.

Biden billed his goal as a way to both address an “existential crisis” and “create millions of good-paying, middle-class, union jobs.”

“I see the engineers and the construction workers building new carbon-capture and green-hydrogen plants to forge cleaner steel and cement and produce clean power,” he said. “That’s where we’re headed as a nation, and that’s what we can do if we take action to build an economy that’s not only more prosperous, but healthier, fairer, and cleaner for the entire planet.”

Residential and commercial buildings respectively accounted for 19 percent and 17 percent of carbon emissions from fossil fuel combustion (including allocated electricity emissions) in 2019, according to the U.S. Environmental Protection Agency.

Much of their energy consumption comes from electricity for heating, cooling and operating appliances, along with natural gas for cooking and heating. Together, these properties made up nearly 40 percent of the country’s energy use that year, according to the U.S. Energy Information Administration.

Though full details of Biden’s proposal have not been released, the administration has indicated it will invest in the electrification of new buildings and retrofitting existing ones. Doug Vine, director of energy analysis at the Arlington, Virginia-based Center for Climate and Energy Solutions, said initial steps for property owners could include providing charging stations for tenants’ electric vehicles and upgrading heating systems.

“It is about getting the incentives right and prioritizing the things that are going to move the needle,” Vine said. “We cannot get to zero without responding to the emissions from the building sector.”

John Mandyck, CEO of New York-based nonprofit Urban Green Council, noted that the federal government doesn’t regulate buildings directly, leaving it to cities and states to set restrictions that will help the country meet its emission goals.

“[Federal officials] still have a strong role to play in supporting buildings,” he said. For instance, Washington could further incentivize building retrofits and the development of high-efficiency technologies.

He said the federal goals complement New York City’s, including Local Law 97, which calls for a 40 percent reduction in citywide greenhouse-gas emissions by 2030 and 80 percent by 2050. James Whelan, president of the Real Estate Board of New York, commended Biden but blasted the city’s approach to climate change. His group has criticized the local law’s emission caps as unreachable for some buildings and has advocated for new ways to comply.

“Hopefully [Biden] will avoid the mistakes made in New York City and prioritize planning and tangible progress over ideology and lofty rhetoric,” Whelan said in a statement. “To effectively decarbonize buildings and achieve our shared goals, it will be crucial for the federal government to deliver significant investments in renewable infrastructure, including generation and transmission, and building efficiency rather than simply putting unworkable mandates on buildings.”

[contact-form-7 404 "Not Found"]

The post Building owners crucial to Biden’s climate goals appeared first on The Real Deal Los Angeles.

Powered by WPeMatico

  • 23 April 2021
  • The Real Deal
  • Uncategorized
  •  Like
Facebook founders’ early Silicon Valley home up for rent →← New home sales soar 21%
  • Recent Posts

    • Hoteliers sound the alarm on looming distress  May 24, 2025
    • Growth markets see retail boom even with tariff uncertainty May 24, 2025
    • Westchester resi project gets city OK after union drops objection May 23, 2025
    • WATCH: ‘Father of CMBS’ Ethan Penner to run for governor of California May 23, 2025
    • Fashion Island office fetches $756 psf May 23, 2025
  • Recent Comments

    • Archives

      • May 2025
      • April 2025
      • March 2025
      • February 2025
      • January 2025
      • December 2024
      • November 2024
      • October 2024
      • September 2024
      • August 2024
      • July 2024
      • June 2024
      • May 2024
      • April 2024
      • March 2024
      • February 2024
      • January 2024
      • December 2023
      • February 2023
      • January 2023
      • December 2022
      • November 2022
      • October 2022
      • September 2022
      • August 2022
      • July 2022
      • June 2022
      • May 2022
      • April 2022
      • March 2022
      • February 2022
      • January 2022
      • December 2021
      • November 2021
      • October 2021
      • September 2021
      • August 2021
      • July 2021
      • June 2021
      • May 2021
      • April 2021
      • March 2021
      • February 2021
      • January 2021
      • December 2020
      • November 2020
      • October 2020
      • September 2020
      • August 2020
      • July 2020
      • June 2020
      • May 2020
      • April 2020
      • March 2020
      • February 2020
      • January 2020
      • December 2019
      • November 2019
      • October 2019
      • September 2019
      • August 2019
      • July 2019
      • June 2019
      • May 2019
      • April 2019
      • March 2019
      • February 2019
      • January 2019
      • December 2018
      • November 2018
      • October 2018
      • September 2018
      • August 2018
      • July 2018
      • June 2018
      • May 2018
      • April 2018
      • March 2018
      • February 2018
      • January 2018
      • December 2017
    • Global Property and Asset Mangement, Inc.
      137 North Larchmont
      Los Angeles, California 90010
      +1 213-427-1127

    © 2025 GPAM