The Biden administration on Thursday will announce a new definition of buildings that produce zero planet-warming greenhouse gas emissions.
But these different mandates pose a challenge for real estate companies with national portfolios, and some executives welcomed the idea of a single federal standard.
Still, Thursday’s announcement underscores the legal and political constraints the Biden administration faceslacks the authority to impose binding requirements on privately owned buildings, andnew climate rules for the real estate sector.the federal government’s massive carbon footprint, including from its sprawling real estate portfolio. The presidentin 2021 directing the government to become carbon-neutral by 2050, with federal buildings meeting this target by 2045.
The General Services Administration, which ranks as one of the country’s largest landlords, owns and leases more than 363 million square feet of space in nearly 8,400 buildings nationwide. Biden’s signature climate law, the , provides $975 million for the GSA to install clean-energy technologies — including heat pumps, solar panels and batteries — in federal buildings nationwide.a summit aimed at bolstering the nation’s infrastructure against extreme weather and other hazards by embedding that idea in all federal planning and management decisions.
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