Calling L.A.’s Best Buildings

By Dennis Kaiser

Better buildings will play a central role in the decarbonization of the economy. The Los Angeles Better Buildings Challenge (LABBC) is a network of market leaders facing up to the challenge of climate change, and showing how it’s possible to “do well by doing good.”

Each year, the LABBC Innovation Awards recognize the leadership of property owners and managers who have demonstrated outstanding energy and water performance over time. Entries for the prestigious sustainability award are being accepted through Dec. 31st, 2019.

LABBC Innovation Awards nominations can be submitted on this submission form.

“The concept of sustainability has become part of the public discourse, in a way it never has before. The conversation is different today because it is based on clear science – not politics,” said LABBC Executive Director David Hodgins. “These awards are important because we need success stories, we need proof points and data to generate the momentum it will take to break the emissions curve and get on track towards a sustainable future.”

Sustainability has become a global priority, and Los Angeles, the nation’s second largest city, has been a sustainability leader for quite some time, setting science-based targets to meet the Paris Climate agreement. “Here in California we feel the effects of climate change in our daily lives, and the science clearly shows what we have to do in order for Los Angeles to remain a decent place to live. CRE leaders are recognizing this, and it’s trickling down to policy now,” said Hodgins.

LABBC’s role in Los Angeles is “to bridge environmental policy goals and commercial real estate priorities” towards a collaborative harnessing of capital to find the best solution for the planet and CRE investors. “Buildings face numerous risks from climate change,” said Hodgins. “Forward-thinking investors are looking ahead, and making investments to mitigate those risks while realizing near-term financial benefits through lower operating costs and enhanced competitiveness.

“The LABBC Innovation Awards get people thinking about innovation, but not just the technology part,” Hodgins is careful to note. “It’s also about people — how to develop and implement strategies at the organizational level, putting them into practice and executing at scale.”

Ultimately, sustainability is part of best asset management practices. Hodgins says an important part of the awards is to mainstream sustainability concepts by promoting inclusiveness, cross-pollination, and education, which helps everyone to understand each other better. Collaborating organizations include CRE industry groups like the Urban Land Institute and the Institute for Real Estate Management, alongside leading academic institutions such as the UCLA Ziman Center, and top brass from utilities and local government. “It’s this collaboration that makes the LABBC Innovation Awards unique — and what makes them impactful,” says Hodgins.

The LABBC is working towards a goal of 22% reduced energy and use by 2025 across some 150 million square feet of existing buildings. Hodgins notes utilities offer financial incentives to accelerate private investment, but that they can be complex to manage, which is where LABBC steps in to bridge the gap with technical advisors and project managers to guide the process as needed.

One example of the ways LABBC works to bridge policy and CRE priorities is around reducing the City’s reliance on imported water through maximizing local supply. Working with the Bureau of Sanitation, the LABBC identifies sites with groundwater infiltration issues, and works with the property owners to find ways to utilize that nuisance water for cooling, irrigation, and other beneficial uses — turning a costly maintenance issue into a cost-effective solution with environmental co-benefits. Hodgins says they’ve already achieved great success with this program, with a half dozen large-scale projects underway this year.

Climate issues are front and center as we look to the future of CRE. If you’re ready to “take the Challenge,” contact [email protected].

Pictured: David Hodgins at the 2019 LABBC Innovation Awards.

For comments, questions or concerns, please contact Dennis Kaiser