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Canada's federal government is turning to property technology Proptech to help solve the country's housing crisis. In the just-released 2024 Budget, new funding was announced to spur the development of new housing technologies and additional steps are on the way.
Environmental. All sectors of the Canadian economy are adopting increasingly sustainable and environmentally-friendly practices to help the transition to a net-zero economy. In particular, as the Government of Canada stated in its Emissions Reduction Plan, Decarbonizing the buildings sector is critical to Canada's pathway to 2030 and 2050.1 In 2019, commercial and residential buildings accounted for 12 percent of Canada's greenhouse gas GHG emissions.2 Clearly, the real estate industry has a pivotal role to play in achieving the federal government's emissions reduction goal by 2030 and achievi...
Decarbonization in the commercial real estate sector is top of mind for building developers, owners and operators, as it has garnered increased policy momentum at all levels of government in Canada. Stakeholders must ensure their properties become considerably more energy efficient in order to achieve the new set standards, through upgrading or retrofitting older building supply and by implementing energy programs for new builds.