JLL

Peter Killeen

Peter Killeen is currently an Energy and Sustainability manager at JLL working with a large financial institution. As part of the Sustainable Operations team, he works to identify performance optimization opportunities promoting energy efficiency, water conservation, waste reduction, and decarbonization. With a focus on client strategies and goals, Peter develops methods for standardizing sustainability programs and initiatives across the entire client portfolio.

JLL is a proven sustainability partner to help companies decarbonize their real estate effectively and efficiently. Leading from the front, JLL is showing what’s possible through decarbonization progress on their own real estate, including being the first real estate company in the world with a validated net-zero target aligned with climate science.

In an era where environmental concerns are at the forefront of global discourse, the real estate industry stands as a pivotal player in the quest for sustainability, resiliency, and decarbonization. The real estate industry accounts for 40% of global carbon emissions, and according to JLL, 80% of office buildings which exist today will still be in-use in 2050. This building stock is aging out and will be unable to comply with future energy efficiency standards.

The goal is to deliver environmental benefits alongside financial and social in what can be referred to as a “Total Return on Sustainability.” In an effort for organizations to decarbonize, the two core areas of focus are: how to become more efficient and understanding where power is sourced.

Traditional construction methods have long been associated with significant carbon emissions, resource depletion, and waste generation; however, the emergence of green technology offers a promising alternative to construction and redefining existing buildings.

ustainable materials such as recycled steel, reclaimed wood, eco-friendly concrete reduce the carbon footprint of buildings while promoting circularity in resource use. Furthermore, advancements in energy efficient design, such as passive solar heating, natural ventilation (free cooling/heating), and green roofs, minimize energy consumption and operational costs over a building’s lifespan. Moreover, the integration of renewable energy sources like solar panels, wind turbines, and geothermal systems enable buildings to generate their own clean power, reducing reliance on fossil fuels and grid electricity. Across JLL’s global portfolio, 29% of electricity was supplied or sourced from renewable sources.

Smart building technologies further optimize energy usage through real-time monitoring and automation, ensuring optimal performance and occupant comfort while minimizing waste. The post-pandemic focus on the quality of interior spaces supports employee health and well-being through better air quality, flexible spaces, and mobility. Beyond these benefits, green technology in the built environment holds immense potential for economic growth and job creation. Investments in sustainable infrastructure drive innovation, spur demand for green products and services, and create employment opportunities in emerging sectors such as, renewable energy, green building materials, energy efficient technologies, and performance-based facility management.

By enhancing energy efficiency and reducing operational costs, sustainable buildings offer long-term savings for owners and occupants, enhancing financial resilience and asset value. Through integration of sustainable and resilient practices, buildings help companies lower operating costs, protect building value, avoid stranded assets, and unlock new revenue opportunities.

The adoption of sustainable practices in the built environment spans beyond buildings, contributing to overall well-being of communities by improving air quality, enhancing public health, and promoting equitable development. Green spaces, mixed use developments, pedestrian friendly design, foster social cohesion and create vibrant, livable neighborhoods. Additionally, initiatives such as green building certifications and eco-labeling empower consumers to make informed choices, driving demand for sustainable best practices and encouraging industry-wide adoption of green technologies.

Realizing the full potential of green technology in the built environment requires collaborative action from stakeholders across the public and private sectors. Better collaboration between all parties – landlord, occupier, governments, and third parties – will be critical to success. All levels of government – local, state, federal – play a crucial role in setting ambitious sustainability targets, implementing supportive policies, and providing incentives for sustainable practices. Similarly, industry leaders must prioritize sustainability in their operations, invest in research and development, and foster knowledge sharing and capacity building with the real estate sector.

The market is already moving faster than regulations with rising tenant demand for sustainable space and lagging supply in global cities; however, in years to come, regulation will enforce standards for sustainable buildings. The transition needs to start now to deliver the biggest returns for business and the planet. Many companies have set targets, but far fewer have a clear idea or roadmap of how they’re going to achieve them. Acting sooner rather than later can deliver a competitive advantage in terms of creating and protecting value (investors) and ensuring progress on sustainability goals (occupants and investors).

The tools, technology, and expertise needed to decarbonize real estate already exist – making it an easier way to progress on overall sustainability commitments than areas such as Scope 3 emissions. Embracing green technology is not merely a choice, but a necessity in the transition towards a sustainable future. By harnessing innovation, investing in sustainable practices, and fostering collaboration, we can create buildings and communities that are environmentally resilient, economically prosperous, and socially inclusive. As stewards of the built environment, it is our collective responsibility to build a future where sustainability is not an option but a fundamental principle guiding all aspects of development.