Cities are responsible for 80% of the global carbon emissions. In addition, the urbanization trend is still continuing, mainly in developing countries. Already close to one billion people live in slum conditions and this number is expected to grow. This will mean increasing demand for water, food and energy, combined with climate change causing floods, droughts and urban heat.
Climate adaptation is not only needed in the battle against climate change, it also improves the quality of life in cities. The advantages of green infrastructure are numerous: green infrastructure for storm water management are often cheaper, it improves air quality and enhances biodiversity. Furthermore, research showed that greener cities lead to 5%–30% higher property value.
However, most project developers do not have ‘quality of life’ determined as a goal for their projects. The ‘Greening the City’ initiative tries to entice investors the importance of green infrastructure, starting with real estate. Investors usually have big real estate portfolios and are looking for ways to increase the value of the property. Greening the property might be one of these ways. In this way, the quality of life aspect becomes relevant for investors and real estate developers.
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