Malaysian-based real estate tech company Juwai IQI has become the latest in the industry to commit to becoming a net-zero carbon entity. The firm announced today that it would be undertaking a series of measures with the goal of achieving carbon neutrality by 2030.
Juwai IQI currently employs a real estate agent network of some 18,500 across the Asian continent, as well as in its newly established Portuguese network, as well as some 60-70 core employees according to Linkedin. Although exact details on how Juwai IQI intends to go about its newest challenge are scarce at this early stage, a press release said that it would look to reduce emissions first before taking measures to offset its carbon footprint.
Juwai IQI Group Co-Founder and CEO Kashif Ansari said:
“We have two motivations for targeting net zero: to reduce our emissions and to build awareness and momentum across Asia for addressing climate change. With its rapid economic growth and young population, Asia has the most to gain from taking swift action to beat climate change.”
“We are zeroing in on areas of focus that include business travel, staff commuting, energy use in our facilities and energy consumption by our remote team members. Because the construction and use of real estate plays a significant role in carbon emissions, at Juwai IQI we can also help our clients and customers by supporting them in the move to more sustainable and profitable practices.”
A 2016 UN report estimated that the building industry was responsible for 30% of greenhouse gas emissions and 40% of energy consumption and there seems to be a growing awareness of the real estate’s industry’s role in reducing global carbon emissions.
Several real estate marketplace companies have recently made pledges to become carbon neutral. Australian market leader REA Group recently completed carbon-neutral certification for 2020 and its Newscorp stable-mate Realtor.com in the US has pledged to do so by 2050. Meanwhile developed market industry leaders such as Zillow and Rightmove now produce yearly sustainability reports and have both undertaken measures to reduce their carbon footprint in recent years.