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What US Return to Paris Climate Accord Means to CRE

For clues about what Biden will do, federal property owners should look to President Obama’s 2015 Executive Order that established sustainability goals.

President Biden recently signed an Executive Order to put the US back in the Paris climate accord.

Kurt Stout, executive vice president, Government Solutions at Colliers International, says the US’s renewed focus on combating greenhouse emissions could affect commercial real estate, though the main impacts will be felt in the federal sector.

For clues about what Biden will do, Stout says federal property owners should look to President Obama’s 2015 Executive Order that established sustainability goals for each federal agency, including reducing energy intensity by 2.5% and water use efficiency by 2% annually through the fiscal year 2025.

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