Vancouver’s real estate industry will be impacted by new plans announced by the city council in response to climate change.
The city will escalate its action on the climate emergency that is being declared by cities around the world; and has committed to a five-fold increase in its efforts to tackle the issues.
Dramatically reducing the carbon pollution from buildings is one of the key aims to the six ‘big moves’ that the city has identified.
"Last night Council approved a roadmap that lays out ambitious local solutions to scale-up climate action and limit warming to 1.5°C to avoid devastating climate breakdown, in line with recommendations made in the Intergovernmental Panel on Climate Change report and Paris Agreement," said Sadhu Johnston, City Manager.
The 6 big moves:
- Walkable complete communities - 90% of people live within an easy walk/roll of their daily needs by 2030
- Safe and convenient active transportation and transit -two thirds of trips in Vancouver will be by active transportation and transit by 2030
- Pollution free cars, trucks and buses - 50 per cent of the kilometres driven on Vancouver's roads will be by zero emissions vehicles by 2030
- Zero emission space and water heating - all new and replacement heating and hot water systems will be zero emissions by 2025
- Lower carbon construction - the embodied emissions from new buildings and construction projects will be reduced by 40% compared to a 2018 baseline by 2030
- Restored forests and coast - staff to develop "negative emission" targets that can be achieved by restoring forest and coastal ecosystems by fall 2020
"This climate emergency response includes bold short and long-term actions that will benefit residents and improve neighbourhoods now and in the future," said Gil Kelley, General Manager of Planning, Urban Design and Sustainability. "They have the potential to build community, grow our economy, improve air quality and make our city more resilient. It will also coordinate closely with our citywide planning program that's just getting under way."
More market update: