One sector that must be at the forefront of decarbonizing the economy is real estate, given its outsized impact on carbon emissions, one expert said.
Roughly $50 trillion is needed through 2050 to wean the U.S. economy off carbon emissions.
“When you look at an economic level, it is a staggering opportunity,” Brendan Wallace, founder of Fifth Wall, a venture capital firm specializing in climate change, told Yahoo Finance (video above). “So I think it’s a macro trend for the whole economy, but it’s particularly relevant for the real estate industry, given its impact on climate change.”
“So correspondingly, the real estate industry needs to invest an enormous amount in decarbonizing itself,” Wallace said.
Wallace’s venture capital firm, Fifth Wall, raised…