Galvanize Real Estate (GRE) is a differentiated real estate platform that aims to invest in well-located, high-quality real estate and increasing asset value through the implementation of sustainability measures. By integrating strategic sustainability considerations across the investment lifecycle from day one, and directly linking incentives to operational net-zero targets, Galvanize is aiming to set the example for profitable, decarbonized real estate.
Galvanize uses Measurabl as the central hub for managing sustainability across its portfolio. Through Connect, they integrate directly with utilities, automating energy data capture and reducing both errors and manual entry. When gaps occur, machine-learning–powered meter reading estimates generate accurate consumption and emissions values, keeping their dataset complete.
Beyond consumption tracking, Galvanize stores all projects and audits within the platform, giving the team a single source of truth for operational data and improvement initiatives. To safeguard accuracy, they rely on Measurabl’s Data Quality Report, which quickly flags discrepancies for review. And when it comes to communicating results, the site-level PDF report delivers clear insights into property performance, making it easy to share progress with both internal teams and external stakeholders.
“Galvanize Real Estate challenges the traditional investment model and aims to prove that decarbonization can be profitable—if it’s not treated as an afterthought. We use data to inform our underwriting and investment thesis from the start, ensuring our strategy and decarbonization goals are fully intertwined.”
Nicolette Jaze, Head of Sustainability, Galvanize Real Estate
Investing in Decarbonization: How Galvanize Real Estate is Leading Industry Transformation
GRE’s approach is grounded in the belief that climate change will be one of the most consequential secular trends in the U.S. real estate market for decades to come. Yet despite its outsized role in global emissions, the industry has been slow to adopt meaningful decarbonization strategies—creating what GRE believes is an opportunity for those willing to move early and decisively by investing in decarbonization initiatives.
Nearly 75% of U.S. commercial buildings were constructed before 1999—long before current energy efficiency standards. These assets are aging and inefficient, with systems like HVAC and rooftops often overdue for replacement. Yet instead of modernizing, many investors continue to opt for like-for-like swaps, reinforcing long-term emissions and missing opportunities to create long-term value.
This is where GRE sees prime opportunity. Their strategy targets properties at capital upgrade “inflection points”—when renovations are already planned and sustainability improvements offer the greatest return. It’s not about achieving green premiums; it’s about increasing NOI, avoiding obsolescence, recognizing untapped market value and proving that decarbonization can be priced into deals from the outset to lead to real outcomes.
“We aim to bring all our assets to net zero within three years of ownership. We believe the best time to implement a green retrofit is during a value-add renovation—when building systems already need replacement. We align the timing of capital improvements with sustainability upgrades seeking to maximize both cost savings and returns.”
Nicolette Jaze, Head of Sustainability, Galvanize Real Estate
Value-Add Strategy: Capturing Upside Through Data-Driven Decarbonization
GRE identified two major barriers slowing the industry’s progress on decarbonization: lack of mission alignment and lack of reliable data.
To overcome the first, they have embedded sustainability into their operating model by tying long-term incentive structures to net-zero outcomes. They also leverage in-house expertise (data scientists, technologists, etc.) to authentically infuse their investing lifecycle with meaningful climate considerations.
The second barrier—insufficient property data during both the pre-acquisitions and post-close phases. To address this, GRE has built proprietary tools to evaluate the decarbonization potential of each potential deal in its pipeline. This enables the firm to underwrite and execute decarbonization measures with confidence and precision. Post-close, it uses Measurabl to access reliable, asset-level data to track property improvements and their associated performance over time. Given the tie to long term incentive allocation, the data that is swept from Measurabl not only contributes to net-zero tracking and measurement, but also GRE’s financial reporting, making it a critical component to its business.
Future Outlook
With eight buildings in the portfolio as of June 2025, GRE is building steady momentum. Their strategy is structured to show that profitable decarbonization is not just achievable—it’s scalable, replicable, and investable. By focusing on underperforming buildings, timing interventions during capital upgrades, and aligning teams around shared goals, they’ve created a blueprint for what sustainable real estate investing can look like in practice.
And despite recent headwinds, GRE remains focused on the data—and the data shows that sustainability is profitable.
“We’re not pivoting—we’re doubling down. This is about making data driven decisions, identifying the signal through the noise, and unlocking potential value that others have overlooked.”
Nicolette Jaze, Head of Sustainability, Galvanize Real Estate
About Galvanize Climate Solutions
Galvanize is a pure-play, global asset manager focused on delivering compelling returns through deep specialization in energy and the business of decarbonization. Led by co-executive chairs Katie Hall, Tom Steyer, and Secretary John Kerry, Galvanize invests across asset classes including venture capital and growth equity, public equities, and real estate, to accelerate commercially competitive solutions, products, and services. Built by investors and operators with proven track records scaling multibillion dollar strategies, Galvanize is structured to identify and execute on investment opportunities across all sectors of the economy. Its model pairs top-tier institutional investment talent with expertise across technology, science, market development, policy, and geopolitics. The firm has offices in San Francisco, New York, and London.
