San Francisco-based climate-focused global investment firm Galvanize Climate Solutions has launched Galvanize Real Estate (GRE), a sustainable strategy that aims to invest in and decarbonize real estate, while improving cash flow and increasing asset value. The GRE strategy will include tying a portion of incentives and compensation to the accomplishment of certain sustainability goals.

“Decarbonizing real estate is crucial to tackling the climate challenge,” said Tom Steyer, Co-Executive Chair of Galvanize. “We see a tremendous opportunity to bring something new to the market as consumer, corporate tenants and policy increase pressure to deliver on sustainability.”

According to a Galvanize news release, the built environment generates 40% of annual global CO2 emissions, and in the U.S. alone, 30% of the energy used in commercial buildings is wasted, leaving a huge opportunity to create efficiencies and cost savings. GRE aims to target existing multifamily, industrial and self-storage properties that the team believes will enable the climate transition.