Brian Unsted’s journey into environmental sustainability began with his finance background within the real estate sector, where he observed firsthand the financial and operational benefits of adopting sustainable practices. When Liberty 2 Degrees (L2D) was established in 2016, Unsted recognized a unique opportunity to affect meaningful change in an industry that significantly contributes to global carbon emissions. Since then, he has led L2D’s sustainability initiatives, crafting a comprehensive strategy aimed at responsible resource consumption and efficient management.
Championing Green Building and Renewable Energy
In 2017, Unsted joined the Board of the Green Building Council of South Africa (GBCSA) and eventually became Chair in 2022/2023. His leadership coincided with South Africa approaching its 1,000th green building certification, a milestone that further fueled his passion for sustainability. During his tenure, Unsted led various projects that demonstrated L2D’s commitment to tackling climate change, including the implementation of Net Zero Carbon goals through energy management and solar energy initiatives.
A significant success story under Unsted’s leadership was the installation of the first solar photovoltaic (PV) system at Midlands Mall in Pietermaritzburg in 2018, which has since expanded to 5 MW. This marked the beginning of a wider rollout across L2D’s portfolio, with 1 MW installations at Promenade Mall and Sandton City, and 6 MW at Eastgate Shopping Centre. These projects are key steps toward reducing reliance on grid electricity, with a target of cutting this dependency by nearly 20% by 2025.
In 2021, Unsted managed the project to achieve Existing Building Performance (EBP) Green Star ratings for L2D’s portfolio, including a prestigious 6-star rating for Sandton City Shopping Centre. He also spearheaded the achievement of Level 2 Net Zero Waste ratings for operational waste across the entire retail portfolio, a pioneering accomplishment in South Africa. L2D’s head office at Nelson Mandela Square earned a 6-star Green Star fit-out rating, reinforcing their sustainability leadership.
A Personal Mission: Climate Action
Climate action is deeply personal for Unsted. His awareness of the impacts of climate change makes ignoring the issue impossible. He identifies the “throw-away” culture and short-term financial focus prevalent in business as problematic societal issues. As a parent, Unsted feels a strong sense of responsibility to contribute to a healthy planet for future generations.
L2D’s sustainability journey has delivered measurable results. In 2023, they diverted nearly 91% of operational waste from landfills. Technological advancements in solar energy have also changed the financial dynamics for the better. When Unsted first evaluated solar PV projects in 2011, the returns were modest, with an internal rate of return of approximately 6%. By 2017, improvements in technology increased the returns to 17%, enabling more accessible funding for these initiatives and contributing to a R12 million saving in electricity costs in 2023 alone.
Overcoming Challenges in Sustainability
The rise of ESG (Environmental, Social, and Governance) criteria has reshaped South Africa’s real estate landscape, transforming sustainability from an optional consideration into a non-negotiable aspect of every project. However, the transition has not been without obstacles. Changing ingrained mindsets and overcoming the “we’ve always done it this way” mentality required persistence. Convincing tenants in the retail sector to align with sustainability initiatives has also been challenging, but their support remains crucial for success.
Older buildings present additional challenges, as they typically consume more resources and require significant capital investments for upgrades like HVAC systems or solar installations. Data management has also emerged as a hurdle, but Unsted and his team remain committed to overcoming these obstacles.
Unsted’s vision for climate action emphasizes the importance of understanding local risks associated with climate change, such as the severe weather events recently experienced in South Africa. He argues that these risks will increasingly influence asset pricing and insurance costs, urging asset owners to recognize their responsibility in mitigating climate-related threats. He also believes that shifting the climate conversation to focus on positive success stories can inspire broader engagement and meaningful action.
Advice for Future Climate Leaders
For those just beginning their sustainability journey, Unsted’s advice is to start now. Performing a gap analysis to understand where improvements are needed and being realistic about ambitions are key. He encourages resilience, pointing out that not every initiative will succeed, but each provides valuable lessons. With many experts available to guide sustainability efforts, seeking support is a critical part of the process.
L2D’s sustainability progress has yielded substantial business benefits. Their energy-saving measures positively impact building valuations, while their ambitious sustainability goals have positioned them as a leader in the industry. Unsted advocates for transparency across sectors, encouraging companies to share both successes and setbacks to collectively drive meaningful change.
“Everyone has a role to play in environmental sustainability, whether through small daily actions or significant organizational changes,” Unsted said. “It’s a rewarding field that allows us to make a tangible impact on the world.”
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