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The document argues that integrating decarbonization into core capital investment decision-making allows real estate investors to move from reactive compliance to proactive value creation. It highlights that sustainable building features are increasingly demanded by occupiers, with LEED-certified buildings in the US seeing rent premiums of 3%–4% and energy-efficient properties outperforming less efficient ones in total returns by 5% since 2021. The paper proposes six key principles for strategic planning: managing energy demand, life-cycle-based expense planning, aligning upgrades with trigger events, phasing in quick wins, using integrated design, and considering risk overlays.

C-PACE programs have provided $9 billion in financing for energy efficiency in 25 US states and cities, but most were established before embodied carbon data was available. The briefing proposes that C-PACE administrators update guidelines to classify low-embodied-carbon materials as "energy improvements," utilizing tools like Environmental Product Declarations (EPDs) and Whole Building Life Cycle Assessments. To incentivize this shift, the author suggests increasing financing limits for projects that demonstrate embodied carbon reduction. RMI is facilitating a working group through 2025 to develop nationwide best practices for integrating embodied carbon into C-PACE guidelines.

CBRE is implementing a multi-step engagement strategy to tackle Scope 3 emissions, which are over 50 times greater than its direct operational emissions. By identifying a core group of 7,500 suppliers responsible for 90% of its purchased goods and services emissions, the firm provides tailored support, including a free emissions calculation platform via Emitwise, to help small and medium-sized enterprises report data. While only 16% of engaged suppliers have provided all requested information, the company is improving response rates by integrating climate reporting into its Partner Excellence Program and translating resources into multiple languages.

The document argues that reducing embodied carbon—which accounts for an estimated 11% of global emissions—is a necessary technology transition that must be completed by 2050. It presents a business case for developers, noting that embodied carbon often comprises a substantial part of Scope 3 emissions and that failure to adopt low-carbon practices could lead to stranded assets. The guide divides recommendations into building-level strategies (reducing material use, increasing utilization, switching to low-carbon materials, and designing for disassembly) and corporate-level strategies (institutionalizing practices, prioritizing retrofits, marketing successes, reporting Scope 3 emissions, and aggregating demand through buyer coalitions).

The document details the real estate portfolios of MAVERIC consortium partners, who manage assets with a total market value of approximately SEK 590 billion (excluding Swedbank's mortgage exposure). It outlines the classification of real estate assets into residential, commercial, and industrial sectors, and explains the accounting standards (IAS, IFRS, and US GAAP) used for valuation. The portfolios are heavily concentrated in offices and retail space, with primary geographic focus in Stockholm, Gothenburg, and Malmö.

Class B and C office buildings can achieve significant energy cost savings and value increases through energy efficiency and green leasing, though adoption is hindered by information, resource, and funding constraints.

Boulder Commons is a 100,000 square foot multitenant project in Boulder, Colorado, that demonstrates the feasibility of net-zero energy (NZE) commercial real estate. The project achieved NZE through a combination of high-efficiency building systems and 575 kW of solar PV, including an innovative vertical installation on the southeast façade. The developer, Morgan Creek Ventures, implemented a specific NZE lease structure that includes plug load budgets for tenants and annual recommissioning to ensure performance. Financially, the project saw a 12% hard cost premium (excluding solar) but expects higher net cash flow due to increased tenant retention and a lower capitalization rate at the point of sale.

The document argues that deep energy retrofits—those reducing energy consumption by 50% or more—generate significant, often overlooked business value. It introduces the RMI Retrofit Value Model, which categorizes this value into nine elements: retrofit development costs, non-energy property operating costs, retrofit risk mitigation, health costs, employee costs, promotions and marketing costs, customer access and sales, property-derived revenues, and enterprise risk management. The guide provides methodologies for quantifying these benefits, such as calculating reduced absenteeism and improved worker productivity, and offers a sample report to demonstrate how to synthesize these findings for capital requests. It concludes with best practices for risk mitigation and principles for presenting value to decision-makers.

The RMI-BOMA guide outlines five actionable steps to improve energy efficiency in commercial buildings: increasing transparency of energy costs, engaging occupants to reduce plug loads, integrating sustainability into tenant fit-outs, planning for deep energy retrofits, and utilizing green leases to realign financial incentives between owners and tenants.

The report identifies energy insecurity, water scarcity, and climate change as significant financial risks for commercial buildings in South and Southeast Asia. It details how these trends increase utility costs, accelerate building depreciation, and cause construction delays. To mitigate these risks, the report proposes a risk assessment framework based on building location (exposure) and design (vulnerability). It further argues that green building investments can reduce these risks and provide net positive financial returns, often within three to five years, particularly in the Indian market.

The report identifies the 'split' between construction, operational, and management costs as the primary hurdle to greening multi-tenant buildings. It argues that integrated design can achieve high performance without increasing capital costs, ultimately benefiting owners through higher net operating income and tenants through lower total occupancy costs. Proposed solutions include 'green leases' with cost pass-through clauses, sub-metering, and the use of Energy Service Companies (ESCos) to finance retrofits.

The report argues that buildings are inefficient not due to a lack of technology, but because of a 'spherically senseless' institutional framework. It identifies key failures such as the decoupling of capital and operating costs for developers, the prevalence of 'catalog engineering' driven by low design fees, and the systemic oversizing of HVAC equipment to avoid liability. The author proposes restructuring professional fees to reward energy savings, integrating multidisciplinary design teams from the conceptual stage, and reforming leasing practices to align the incentives of landlords and tenants.

The document details a green finance mechanism where a solar developer finances, installs, and maintains a rooftop PV system on a commercial property. The property owner receives rental income, while the tenant purchases the generated electricity via a Power Purchase Agreement (PPA). A specific implementation for Pick n Pay in Brackenfell, Cape Town, resulted in a 22.12% reduction in the outlet's carbon footprint and created a new annual revenue stream of approximately R188,000 for the property owner.

The report establishes a risk assessment framework for the commercial real estate sector in South and Southeast Asia, focusing on the financial impacts of energy insecurity, water scarcity, and climate change. It highlights that while these risks are increasing due to infrastructure limitations and physical vulnerability, green building investments can mitigate these risks and achieve net positive returns within three years. The analysis specifically examines commercial office buildings in India, Indonesia, Malaysia, Philippines, Thailand, and Vietnam, with a primary focus on India.