Tenants, investors and the public are increasingly asking questions about commitments to sustainability and transparency in the real estate industry. To voluntarily disclose building data on energy, water and carbon is to demonstrate that transparency is a core value, and a commitment to sustainability and continuous improvement is a good business practice.
Tracking a building’s performance and publicly disclosing the data is not new. Many European and American states and cities have been requiring building energy disclosure and benchmarking for years. However, public energy disclosure is in its infancy in Canada. Ontario is currently the only province that requires building energy data to be publicly reported.
With the “Disclosure Challenge,” CaGBC aims to demonstrate the value of data transparency and remove barriers within the wider real estate community, which will enable more municipal and provincial jurisdictions to move forward with requirements for the public reporting of building performance data.
Building performance, when collected and shared, is a powerful data set that can propel Canada’s retrofit economy. With the Disclosure Challenge, we hope to increase understanding of how buildings are performing and where they can be improved, which will help governments identify the sectors and building types most in need of retrofit to achieve maximum emissions reductions. We know the real estate industry supports disclosure not just in terms of good business practice and making smart decisions for investors, but also as part of their role in supporting governments to create healthy, low-carbon cities.
- Thomas Mueller, President and Chief Executive Officer at CaGBC