A new RBC report is calling for the use of more mass timber in commercial real estate developments.
Multi-storey buildings constructed with a mass timber floor system can reduce their average emissions by 27% for the floor system and 12% to 25% for the entire building structure, states the report authored by Myha Truong-Regan, RBC’s head of climate research. Mass timber has already had a large effect on the Canadian multi-residential sector, accounting for one-third of multi-storey developments planned and under construction.
“While towering steel-and-concrete structures once symbolized economic growth, they are now emblematic of the climate challenge that needs to be scaled,” said RBC.
With its vast forests, Canada could become a global mass timber market while the products eliminate or dramatically reduce emissions associated with concrete and steel.
The report calls for Canadian insurance underwriting to be standardized to reduce investment and construction costs. RBC also wants Ottawa and the provinces to provide financial support to mass-timber-product manufacturers so that Canadian developers no longer have to rely on European suppliers.
Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate.
Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s.
In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star.
Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.