CLIMATE & CARBON
11
Net Zero Planning
The Laureat Fort Lauderdale, FL
UNITED STATES
Greystar is planning for a net zero future for our own assets and the cities we operate in.
We advanced our net zero operation carbon capabilities through two initiatives in 2024. For a portfolio of nine mid-rise and high-rise residential assets, we conducted net zero assessments and engineering studies to develop a detailed capital expenditure plan for each asset. These plans will be implemented over the coming years, targeting 40% reduction in whole building emissions by 2030. In addition, across 38 assets, we piloted a decarbonization planning platform that incorporates satellite imagery, energy and building data, and asset locations to generate comprehensive decarbonization plans without requiring traditional onsite energy audits, accelerating our planning process while reducing associated costs. Given the success with the platform so far, we plan to expand the program in 2025. We have onboarded over 250 properties into the platform to further understand asset opportunities and develop decarbonization plans that will inform future capital planning decisions.
EUROPE
A significant portion of our student housing portfolio has developed a multi-year program of capital projects focused on energy and carbon reduction, with an ultimate net zero goal. The portfolio advances its net zero implementation plan through a multifaceted approach, including energy audits, energy and water use reduction technologies, and lower carbon energy sources, such as district heating and air source heat pumps.
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