Climate change investment is ‘particularly relevant for the real estate industry,’ Fifth Wall founder says

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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.”

Residential and commercial buildings account for 40% of energy consumption in the U.S., though they contribute just 17.6% to GDP. Globally, buildings are culpable for 38% of carbon emissions.

“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…

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