LOS ANGELES, Oct. 29, 2021 /PRNewswire/ -- Today, Fifth Wall,
the largest venture capital firm focused on technologies for the
global real estate industry, launches a mural in Glasgow as part of its international campaign
to bring public attention to the real estate industry's need to
invest in climate technology now. It is the first of an ongoing
series of murals that will be installed as part of Portrayals'
visual story-telling projects across Scotland in the lead up to and following the
UN Climate Change Conference, COP26,
using street art to inspire and express what science alone cannot.
Fifth Wall's campaign began in late September in New York City, timed with ClimateWeek,
followed by a second mural in October in Los Angeles, timed with the Milken Institute's
Global Conference.
The mural features the headline "There's No Place Like Home.
Choose Earth." and the installation depicts an astronaut on
Mars longingly reaching toward Earth. The multi-city mural campaign
pokes fun at the current billionaire space race while encouraging
people to first prioritize our planet -- a topic which has recently
been called out by Prince William,
who urged companies to repair this planet before exploring
multi-planetary civilization, and Bill
Gates, who noted that "we have a lot to do here on
Earth."
The mural is located on the gable end of 5 Cresswell Lane in
Glasgow's West End and was
created in collaboration with BBMG, a branding and social
impact agency, and Glasgow artist
Bobby McNamara, better known as
"RogueOne". McNamara is one of Glasgow's most well-known muralists,
responsible for various eye-catching pieces throughout the city. He
has been creating street art for over 15 years and uses it as a way
to raise awareness for important topics often disregarded by the
public that directly affect his beloved hometown.
"The idea behind this mural is to playfully suggest that
visionaries like Elon Musk,
Jeff Bezos, and Sir Richard Branson prioritize real-world solutions
to combat climate change and reduce carbon emissions on Earth
before building on Mars," said Bobby
McNamara. "I'm thrilled that Fifth Wall chose me for this
project because it's a cause I personally stand behind. Being able
to express this through my art and in my hometown is a true
honor."
The Glasgow mural aligns with
the largest international climate change conference, COP26, which aims to bring countries together to
accelerate positive action towards reversing global warming.
COP26 has dedicated November 11 to focus on the Built Environment.
Accounting for nearly 40% of global energy, greenhouse gases, and
raw materials, the real estate industry is the world's largest
contributor to the climate crisis. It is estimated that
$15 to $20
trillion will need to be invested into technologies to
decarbonize the real estate industry. Unfortunately, most real
estate firms are not investing nearly enough into this critical
climate technology, and this is what Fifth Wall's mural campaign
seeks to highlight.
"We must prioritize Earth and to do so we need companies,
especially real estate companies, to make critical investments into
climate technology. Climate change is a collective action problem
that requires a collective action solution, so it is important that
everyone across all industries do their part to decarbonize the
economy," said Brendan Wallace,
Co-Founder and Managing Partner at Fifth Wall. "The real estate
industry has historically underinvested into the climate
technologies that are needed for the industry to decarbonize. We
want to draw awareness to this underinvestment and offer a
solution, and that is what this mural campaign and our Climate Tech
Fund is all about. Fifth Wall's Climate Tech Fund represents an
ever growing consortium of real estate firms that are committed to
decarbonizing their industry through investments into climate
technology -- the largest pool of capital ever assembled to
decarbonize the Built Environment."
This campaign is part of Fifth Wall's larger mission of
investing in clean technologies to better the real estate industry.
The firm recently announced that its Climate Tech Fund raised over
$140 million from major real estate
players, including Equity Residential (NYSE: EQR), Hudson Pacific
Properties (NYSE: HPP), Kimco Realty Corporation (NYSE: KIM),
Invitation Homes (NYSE: INVH) and Ivanhoé Cambridge. Brazilian
energy industry player, Cosan (NYSE: CSAN), represents the first
investment from the energy industry in the fund. With its target of
$500 million, Fifth Wall's Climate
Tech Fund represents the first time the real estate industry has
come together, collectively and cooperatively, to invest in climate
technology aimed at reducing the real estate industry's outsized
carbon footprint.
About Fifth Wall
Founded in 2016 and based in
Los Angeles, California, Fifth
Wall, a Certified B Corporation, is the largest venture capital
firm focused on technology-driven innovation for the global real
estate industry. With approximately $2.5
billion in commitments and capital under management, Fifth
Wall connects many of the world's largest owners and operators of
real estate with the entrepreneurs who are redefining the future of
the Built World. Fifth Wall is backed by a global mix of more than
70+ investors from 15 countries, including Acadia Realty Trust,
Azora, BNP Paribas Real Estate, British Land, CBRE, Cosan, Cushman
& Wakefield, D.R. Horton, Equity Residential, Gecina, GLP,
Hines, Host Hotels & Resorts, Hudson Pacific Properties,
Invitation Homes, Ivanhoé Cambridge, Jamestown, Kimco Realty Corporation, Knight
Frank, Lennar, Lowe's Home Improvement, Macerich, Marriott
International, MERLIN Properties, MetLife Investment Management,
Mitsubishi Estate, News Corp, MOMENI, Nuveen Real Estate, PGIM Real
Estate, Pontos Group, Prologis, PulteGroup, Related Companies,
SEGRO, Starwood Capital, Toll Brothers, Vanke, and others. Fifth
Wall believes this strategic corporate consortium represents one of
the largest groups of potential partners in the global Built World
ecosystem, which can result in game-changing investments and
collaborations in promising portfolio companies in retail,
residential and multi-family, commercial, industrial, hospitality,
and more. For more information about Fifth Wall, its partners, and
portfolio, visit www.fifthwall.com.
Media Contact
Julie
Lydon
julie@fifthwall.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/the-road-to-cop26-fifth-wall-launches-mural-in-glasgow-as-part-of-its-international-choose-earth-campaign-301412086.html
SOURCE Fifth Wall
