Green initiatives are a central issue to all Californian companies, as the Golden State is a leader in legislative action to address climate change. Make no mistake, a shift to sustainability is an opportunity for savvy real estate investors to position themselves for future success.
What shifts in commercial property strategy make sense?
With news of the order for more and more solar power electrical vehicle (EV) charging stations across the state, it’s clear that automobiles are a current focus. A recent NPR article explains that to mitigate climate change, 60% of vehicle sales should be electric by 2035 and all of them by 2040. 14 years only seems like a long time to people outside of a corporate leadership structure. However, business leaders do not have the luxury of ignoring pressing future concerns.
Already, EV power stations are common, with many businesses actively accommodating these vehicles for their patrons. The shift that California will need to become a fully carbon-neutral state will call for not just more EV power stations but an overwhelming push to sustainability. This push will lead to greater investment in emergent technologies.
California’s relationship with power
This shift represents a complete change in what power California consumes in the future. For the state to move entirely off fossil fuels on the schedule they’ve laid out, it will need a greater emphasis on sustainable, green practices. Selecting a suitable investment and properly implementing a strategy will require partnering with a firm with insight into these issues.
Commercial real estate investors can capitalize on this shift by doubling down on their sustainability initiatives and investments. Sustainability practices that begin with construction may make for longer-lasting, desirable locations for future companies. These are the buildings of tomorrow.