Real estate and construction activity are responsible for approximately 40% of global Greenhouse Gas (GHG) emissions, according to reports. It is noted that the sector lacks robust tools to measure climate risks and define decarbonisation pathways.
It was reported that Accacia was founded in 2022 by INSEAD alumni Annu Talreja along with co-founders Piyush Chitkara and Jagmohan Garg. The company offers an AI-enabled SAAS platform intended to aid real estate asset managers, owners, and developers in tracking their emissions and designing their decarbonisation journey.
Rezso Szabo, a Partner at Illuminate Financial, mentioned that the necessity to measure and manage climate risks has become crucial for large financial institutions, particularly concerning real estate, which is one of the most significant and affected asset classes in their portfolio. He emphasized that decarbonisation of real estate presents one of the largest opportunities today, stating that an enormous $ 18 trillion investment is needed over the next decade to achieve net zero in the real estate industry. Helen Wong, Managing Partner at AC Ventures, expressed appreciation for Accacia's custom solution tailored to the nuances of the real estate sector, highlighting its importance given the complexity of value chain emissions and the variety of asset uses.
Accacia's technology platform is reported to integrate seamlessly with existing property management, energy management, and procurement systems to automate real-time data capturing and tracking. This integration is cited as making Accacia the quickest and most affordable solution for real estate companies on their journey to achieving net zero emissions.
