As a Global Real Estate Sustainability Benchmark-accredited startup, the firm is using its tech to fill urgent real-estate regulatory compliance needs
The real estate sector is a significant contributor to global carbon emissions, responsible for nearly 40% of the world’s greenhouse gas emissions. In light of mounting environmental concerns and stringent climate goals set by international agreements and governmental policies, the industry faces unprecedented pressure to undergo transformative changes.
Yet, amid the anticipated US$18tn of global investments required over the next decade to achieve net-zero emissions, one startup has been pioneering sustainable solutions to address real estate decarbonization. Accacia, launched in 2022, is using AI and cloud-native software that can be integrated with existing systems already used by the world’s largest property owners for tracking and reducing emissions.
According to the firm’s co-founder and CEO, Annu Talreja, software and AI can help property owners in “measuring Scope 1, 2, and 3 emissions from asset operations; assessing and improving building designs for embodied carbon; calculating financed emissions for their investment portfolios; setting Net Zero targets, tracking their decarbonization journeys, and more.”
Noting that the global estimated carbon accounting software market currently stands at US$15bn and is expected to grow to US$50bn in future, Annu said: “But it goes beyond mere tracking to facilitate actual decarbonization. By doing so, it also opens the door to a vast market of retrofit solutions, advanced technologies, and innovative materials within the real estate industry.”
In addition to its software and AI expertise, the firm has its ears firmly on the ground as regulatory bodies worldwide intensify their focus on carbon emissions reporting, and its ears are firmly at ground level in search of technological solutions that help narrow the gaps in meeting carbon emissions agreements.
For example, the Singaporean government recently updated rules that now mandate that industries previously viewed as non-essential — such as the real estate sector — must now report their direct and indirect emissions. “So in all, both the quickly evolving regulatory landscape as well as the demand from the real estate client perspective has been very encouraging for us,” said Annu.
Looking ahead, Accacia aims to develop its decarbonization planning engine further to provide clients with tailored solutions for optimizing energy consumption and reducing carbon emissions.
