Recent reports show that the new generation is well-aware of the effects of carbon emissions. Thus, they are willing to go the extra mile to participate in initiatives that could help the environment. According to a First Insights report, 73 % of the youth are willing to pay more for sustainable products. Governments and scientists have successfully managed to plant the culture of going green amongst Generation Z youth.
“ Generation Z on track to becoming the largest generation of consumers this year, retailers and brands must start supercharging sustainability practices now if they are to keep pace,” said Greg Petro CEO of First Insights.
Given that green supply chains and design expertise have matured, it is expected that soon enough PBSA’s all around the world will go green, especially since governments in the UK, USA and Canada already set plans to go green by 2050.
The UK government aims to reduce carbon emissions to zero by 2050. Therefore, companies and citizens are highly interested in sustainability and energy reduction. PBSAs are not excluded from this initiative. Many investors in the real estate sector have already started multiple initiatives to support government efforts.
Downing, GSA, The Student Castle and Unite Students have announced multiple plans to ensure their business strategy is sustainable, and their buildings satisfy the growing eco-consciousness demands of the government and the students.
In 2015, Unite started working with Science-Based Targets Initiative to set a scientific carbon reduction plan. The company already invested more than £30 million in energy reduction programs, including installing LED lighting and controls, solar PV, air source heat pump installations, and smart networked heating controls.
Additionally, starting from 2018 the company announced that all its new buildings would be built as per the standards set by BREEAM. The company already has a rating of ‘excellent’ for its Angel Lane building in London.
According to Amber Energy’s ‘Building for Tomorrow’ report, “ The design phase in buildings determines up to 80% of the building's operational costs as well as its environmental impacts.”
Downing, the Liverpool-based PBSA company, considered that while building their latest London student accommodation, the Holbrook. The company took a green loan from HSBC UK bank to ensure the new building is built and designed for green living. The building was built to a BREEAM rating of ‘very good’.
To reduce energy consumption, Amber Energy collaborated with major PBSA providers like Student Castle and GSA to help them track the implementation of their sustainability strategies. Amber offers multiple services for PBSAs, including data quality management, performance reports, and alerts on energy overuse. Thus, it helps companies determine if their energy consumption strategies are working.
Student Castle are well-known for their green construction and their effort in waste reduction. All their buildings have recycling facilities for recycling cardboard, plastics, paper and glass. GSA are also well-known for encouraging green building, with Clifford House in Exeter earning a ‘very good’ rating from BREEAM.
The first environmental protection law in Canada was in 1999; its goal was to encourage sustainable development to protect the environment and avoid pollution. The law paved the way for penalty applications for anyone deliberately harming the environment.
In 2020, the Canadian Prime Minister unveiled his plan on reducing carbon emissions to zero by 2050. The country is supposed to reduce its emissions by 30% by 2030, which won’t happen without the help of corporates, brands and real estate company. Many PBSAs have already announced their plan to build sustainable buildings and help the government as much as possible.
Alignvest has recently released their Environmental, Social and Governance Report (ESG) report. The report shows the company’s willingness to commit to energy reduction. In 2020, despite the COVID-19 situation, Alignvest managed to invest in a new LED lighting system, set a plan for engineers to build a system to catch rainwater, install news water systems, and even participate in studies to assess HVAC opportunities.
2020 started the ESG plan for Alignvest, and according to their report “ 2021 will see a refinement in multiple areas of focus, projects, measurement, and implementation.”
In 2020, the Sustainable Development Solutions Network USA released the ZCAP plan, a plan to reduce carbon emissions to zero by 2050. The plan offers detailed chapters on multiple solutions to reduce emissions via power reduction in industries like transportation, real estate, food, etc. Many investors in the PBSAs industry have already set plans to abide by the government new goals.
UC Davis owns student housing and dining services in Cuarto, Segundo and Tercero areas in California. During the last couple of years, the company set a plan to have all its new buildings earn at least a LEEDS silver certificate. LEEDS is a green building certification program that the US Green Building Council developed. This certificate focuses on energy reduction, building sustainable sites, water efficiency, and indoor environmental quality. Emerton Hall in Curato earned a LEEDS silver for its green development and energy efficiency.
To learn more about the certification process, check LEEDS Website.
American campus views sustainability as a major part of its commitment to the students and the environment. It tries to educate students on the importance of sustainability and empower them with the best practices they could use to start saving energy daily. The company commits to developing its older communities to match the best sustainable practices required by LEEDS as well as constructing the new communities using the latest technology and eco-friendly materials. Many of the company’s buildings have already earned either a Silver or a Gold certification, including Lobo Village, Dolphin Cove, Frear Hall, etc.
With all these companies starting their sustainability plans, It is a given that soon enough sustainable buildings will become the norm within the industry. Let us know if your PBSA is being developed or retrofitted in a sustainable and eco-friendly manner to showcase this on your building listing page.