Goals
The ULI Greenprint is a worldwide alliance of leading real estate owners, investors, and strategic partners committed to improving the environmental performance of the global real estate industry. Through measurement, benchmarking, knowledge sharing, and implementation of best practices, ULI Greenprint and its members strive to reduce greenhouse gas emissions meaningfully by 2030 and to achieve net zero carbon operations by 2050.
Want to learn more about the pathway to zero and access a comprehensive list of ULI’s net zero resources? Visit the Net Zero Compendium.
Meaningful Progress by 2030
In 2009, ULI Greenprint members set a collective goal to reduce greenhouse gas (GHG) emissions by 50% by 2030. In 2022, ULI Greenprint members achieved this goal ahead of schedule and continue to reduce their emissions annually.
Net Zero Carbon Operations by 2050 Goal
The ULI Greenprint goal is to reduce the carbon emissions of its members’ collective buildings under operational control to net zero by the year 2050. This net zero carbon operations goal is designed to meaningfully reduce the built environment’s impact on climate change beyond existing efforts.
The goal is in line with the Paris Agreement and findings from the Intergovernmental Panel on Climate Change (IPCC) report to limit global warming to 1.5⁰ C.
ULI Greenprint Members Aligned with the Goal
In October 2020 during ULI’s Virtual Fall Meeting, the first ULI Greenprint members committed to align with the Net Zero Goal. Now, 36 ULI Greenprint real estate members have aligned to the net zero carbon operations goal representing more than $1.1 trillion in AUM, nearly 2.9 billion square feet, and more than 12,500 buildings across more than 20 countries.
Interested in Aligning with the ULI Greenprint Net Zero Goal?
ULI Greenprint members can align to the Net Zero Goal anytime. ULI celebrates new aligners annually at ULI’s Fall Meeting. We will include a press release, a website update, social media posts, and an UrbanLand online article with the news.
This goal sets a minimum, and real estate firms are welcome to set more aggressive targets and timelines as part of their alignment; we welcome firms to support the ULI Greenprint Net Zero Goal in addition to alignment with other organizations’ net zero goals. Firms must include their whole portfolio, not just select funds or regions. Companies must be ULI Greenprint members to align with the goal.
Defining Net Zero for Real Estate
For the real estate sector, “net zero” brings challenges when owners only have so much control over their properties’ energy usage and carbon emissions. ULI Greenprint follows the World Green Building Council definition of net zero, which is a building portfolio that is highly efficient and fully powered by on-site and off-site renewable energy sources.
The baseline net zero goal is based on CDP scope 1 and 2 greenhouse gas emissions, and direct operational control excluding occupant operations. Members can choose to go beyond scope 1 and 2 to include occupant operations. Guidance on how to define operational control and boundaries for an emissions inventory can be found in the WRI/WBCSD greenhouse gas protocol (“The GHG protocol”).
Tracking Progress
ULI Greenprint measures members’ progress toward these goals by tracking their collective improvements in energy efficiency, purchase of green utility power, and increased investment in on- and off-site renewable energy and offsets. Collective progress is published in ULI’s State of Green report each year to publicly showcase advancements towards both goals. ULI Greenprint encourages members to share their pathway to net zero carbon and their own interim targets.
Roadmap to Portfolio-Wide Net Zero
ULI Greenprint provides guidance, tools, and training to help members progress towards these goals. The roadmap starts with energy efficiency as the most cost-effective solution for carbon reductions, moving on to onsite renewables, green power through the utility grid coupled with building electrification, and balancing the remaining emissions with offsite renewables, renewable energy credits (RECs), and offsets. Further strategies can include engaging tenants to reduce their emissions and exploring embodied carbon reductions in building materials.
Additional Nuances for the Real Estate Sector
Operational Boundaries: Based on GHG reporting frameworks, ULI Greenprint members at minimum include all energy consumption and fuel use under their operational control. Where tenants/residents are in control of their own meter, those scope 3 emissions do not fall under the ULI Greenprint net zero goal. ULI Greenprint members can choose to define and report out on their own goals beyond scope 1 and 2 emissions under operational control.
Acquisitions and Dispositions: New buildings have 24 months before they are included in the portfolio’s net zero commitment. Sold buildings are part of a ULI Greenprint members’ net zero goal through the sale date.
Achieving an Absolute Net Zero Goal with a Growing Real Estate Portfolio: While ULI Greenprint’s efficiency goal is an intensity goal (meaningful reductions from a 2009 baseline), the net zero goal by definition is an absolute goal. No matter the changes in portfolio size over time, ULI Greenprint members are expected to bring their portfolio to net zero carbon operations by 2050.
Greening of the Utility Grid: Utility-provided power may transition to 100% carbon free by 2050, especially in progressive cities. This is expedited by encouraging energy efficiency in buildings to align with industry-standard energy intensities.
Past Press Releases
Six Real Estate Firms Align with ULI Greenprint Net Zero Carbon Operations Goal