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Climate change has been a global issue that needs to be addressed on similar forums like the World Economic Forum. The aim is to highlight the issue of sustainability, especially with the MNCs. The Role of the World Economic Forum since its formation in 1971 has been phenomenal. There is remarkable progress in combatting global issues of similar nature on such a platform.

THE ROLE OF ‘WORLD ECONOMIC FORUM’

‘WEF’ or the World Economic Forum is a Non-Governmental Organization that addresses issues that needs global awakening. The mission of WEF is to improve the state of world affairs through seminars, discussions, meetings and international forums. These are issues that are political, academic, business, climatic hazards, leadership, and finally regional and industry agendas. The motive is to give the vision for change and bringing improvements in global sustainability. Hence, all these agendas are rated high in importance and priorities.

WORLD ECONOMIC FORUM & THEIR SUSTAINABLE DEVELOPMENTS

Issues related to sustainability and change management needs huge prominence due to climate change. Awakening in the field of climate change is the main aim of the World Economic Forum.

The organization also plays an active part in the meetings and discussions of agendas of world leaders and Environmentalists. It also includes Actors, Social Icons, Business Tycoons, Entrepreneurs, and Media personalities. Hence, the issues addressed by leaders are mostly related to politics and security affairs. On top of this also includes the effects on World Trade of conflicts between nations.

Formed in 1971 just for the reason of War Prevention, and creating a climate of peace. Also used for talk and discussions of change between world nations. Knowledgeable, highly prestigious and most acknowledged ones have the ability and opportunity to deliver their thoughts on World Economic Forum. They have huge recognition of global platforms through their particular countries.

Climate change is a global agenda that currently holds the most significance. In addition to this, they hold huge priorities and been discussed multiple times on a global scale. Ironically, while having worldwide impacts and higher priority levels. It is a critical issue due to its high relativity with ‘carbon footprints’ and its effects on the environment.

Environmentalists believe that climate change has introduced many changes in the world’s climate. Its effects have a global impact and analyzing how things have changed geographically in the last 2-3 decades.

THE GREENHOUSE EFFECTS

As we all know that (CO2) i.e. Carbon dioxide is an essential gas for life on the planet earth in more than one way. It is a necessary Gas for plants and the primary producers and is a necessary part of the environmental developments.

FIVE STEPS NEEDED TO TACKLE CLIMATE CHANGE

COMPANIES & THEIR RELATIONSHIP TO CARBON

Companies are highly active as part of their sustainable development programs. Their efforts are increasing annually towards climate change along with the role of the ‘WEF’. Hence, they have the responsibility of reducing their carbon intensity fast. The carbon intensity means the amount of CO2 that they emit per unit of production. It is necessary for the reduction that companies put a price on emissions per unit. Also, as part of their CSR activities, they must actively monitor and maintain the climate-related risks. Also, increase combined efforts to achieve a 1.5 to 2degree Centigrade of World climate.

Perceived with a cost or a trade-off, Climate Action is taken in most cases with a different perspective. New and diverse business models are adopted by companies and MNCs. These are the companies that are given the opportune moment to work for climate change agendas. These business models should contribute to achieving a low carbon economy. In addition to this the capitalization of the new value pools for ‘green’ products and services. By green products, we mean those promoting climate change and environmentally friendly products i.e. good for the environment.

SHARING THE TECHNOLOGY BURDEN – A SUSTAINABILITY ASPECT

As part of the sustainable development measures and the Economic Forum activities, companies can be more knowledgeable and enthusiastic. Their motivations can be more profound towards their part of sharing the technology burden. Having mutual collaborations to develop emission reduction systems is the hour of the need.

It is one of the most effective ways of sharing the technology burden that companies can do regularly. Other sustainable developments for climate change and reduction in emissions is limiting the use of energy. This is achieved through smart energy systems and energy-efficient building systems. Technologically, things have moved smoothly towards the sustainability aspects.

THE ROLE OF INVESTORS & ENTREPRENEURS

The role of investors and entrepreneurs is to work for the environment by investing smartly. Investors need more investments for the environment in their projects and promo campaigns. As part of their Corporate Social Responsibility investors must keep an eye on their contributions towards climate change. Climate Action 100Plus is a list of the consortium of investors that have combined together. These investors have managed a total of $35 trillion for reductions in carbon emissions in their particular and portfolio companies.

An investor initiative achieved initially in 2017. The motive is to ensure the world’s largest corporate greenhouse gas emitters take immediate action for climate change. The consortium includes more than 370 investors with over $35 trillion of investments to curb emissions. They further need improving governance and strengthen climate-related financial disclosures.

REGULATORY PROCEDURES ALONG WITH ‘WEF’ POLICIES

The governments need to step in to drive climate change as a ‘change agent’. The govt. activities should be in light on the agenda of the World Economic Forum. As it is a necessary part of the regulatory procedures. Having compliance with 1.5 – 2 Degree centigrade temperatures is a necessary thing. This is because there is an intense need for the reduction of carbon emissions in the next decade. Hence, voluntary action is quiet not enough together with unregulated markets to deliver that shift in procedures. Governments of most developed nations should keep an eye on the policies and procedures of ‘WEF’ as mandatory practices.

WHAT CAN THE INDIVIDUALS DO ON THEIR PART?

As an individual, there are many things that can be done for the sake of climate change and sustainability measures. Individual action is necessary to create an awareness of climate change hazards and its global impacts. As an individual and a good citizen of their specific countries, people can play an active role. These people can work within the system to drive change in businesses, government institutions, NGOs, and schools.

They can act as ‘change agents’ by raising their voices for climate change and acting for their sustainable developments. There can be demonstrations and talks at national and international level. People can also act as a catalyst for climate action and climate change. This largely means change drivers and change actors i.e. a huge step in change management. Climate change needs radical change management and improving sustainability aspects in the business.

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Buying or Selling a Real Estate property anywhere in the world is one of the most important decisions in one’s life. The decision is highly important whether it’s for yourself or for investment purposes. In my last 15 years of this profession i.e. a rather long time. I have always joked with my buyers/clients regarding property matters. For example, after selecting your spouse, buying a property is the next biggest decision in your life.

There are many factors to be considered when looking at property: Location; Value; Future Projection; Market analysis; Growth on your investment; Taxes; Highways; Schools; Mortgage; Fit for your family needs;

Closing cost; Transition; Inspection; Rental or lease items attached to the property; and finally during the process, you and your family’s privacy and confidentiality.

So, do you want to put such a big decision in the hands of an immature, inexperienced and unprofessional individual? I have seen customers devastated at the hands of Real Estate professionals who are not doing their job properly.

Unfortunately, it seems like every other person gets their Real Estate License for quick money but they lack dedication, knowledge and hard work. Nowadays, you will find many families with one or two realtors in the house. Some of them have other jobs like driving a taxi, owning a convenience store, running their own accounting office, appearing on radio shows or are mortgage brokers. People find quick cash in these fields and do a few deals in a year just to make some extra cash. They lack education, experience, and professionalism. Real estate has become a heaven for a part-time business.

What a prospective buyer or seller should do? Look for the following attributes before finalizing a Real Estate Professional:

1. Experience in the Industry

You can count experience in banking, lending and financial advisor towards this industry.

2. Commission & Fees

If they are giving away too much of their commission means they will not bring added value to you. They are hungry for your business. Any commission works for them. I have seen ADS for $1,000 a listing. They will not do a proper job promoting and will cut costs on required expenses like Flyers, advertising, traveling and open houses, etc. A good realtor will ask for their fair share of commission because he/she will put their full experience and efforts into your transaction.

3. Working Full time or not?

If the realtor is not full time, they will be doing a poor job missing on opportunities of prospective buyers or showings. They will try to accommodate you in the time they are free, instead of your free time. They will become experts in making excuses, missing important calls or appointments. Priorities will differ from a part-time real estate agent vs. a full-time real estate agent.

4. Specialization

Check your Realtor’s credentials and their area of expertise. A west-end realtor will have trouble selling your house in the east end. They will not be effective in terms of knowledge, comparable properties, and negotiations. Also, if a realtor’s area of expertise is in pre-construction, they will do poorly in resale. They will not do all the hard work in showings, they will be weak in negotiations, open houses and vice versa. If the Realtor’s expertise is only in resale, they will not be able to bring you exclusive benefits plus you could miss out on promotional extras from the builder as well. They will not be able to negotiate the things that usually get missed or swept under the rug from the builder, For e.g. Assignment clause, Lease during Occupancy and capping on development charges in the contract which will cost you immensely at the time of closing.

5. Honesty, Ethics, and Conduct

Some of the most important factors in selecting a real estate professional are Trust, Honesty, Transparency, Ethics and how they go about conducting business. Due to the amount of money and commission involved, a realtor with poor credentials can compromise your interest in their smaller gains.

6. Keeping the client’s privacy and confidentiality

During the real estate transaction, a realtor comes very close to any family; I have seen families fighting, arguing and crying in my presence. Clients discuss financial issues, family issues and matters related to children and schools in my presence. Their disputes, their preferences, their weaknesses, and their strengths become mine as well. During and/or after the transaction, a client deserves privacy and confidentiality. Any unprofessional and inexperienced realtor can do more harm than good to the client.

7. Financial Advice

A house purchase can become very emotional for the client which is why all clients want the best property for themselves. One can get easily carried away when it comes to selecting a property. A good professional real estate agent will always keep their and their client’s eyes on the ball. What the client can and/or can’t afford will become a factor in their decision and the agent will advise according to the client’s budget. A professional realtor will get their client a qualified mortgage so that the client will not be stuck in a deal or the possibility of losing their deposit.

There can be many other factors when choosing a real estate agent but in conclusion, my advice is to always choose an experienced and professional realtor. Why do we always select the best doctors, lawyers, dentists, and financial advisors or tourist operators; because we want the best for ourselves? You should not be compromising on one of the most important transactions/decisions in your lives when selecting a real estate agent!

Professional and Educational Background: B.Sc. Electrical Engineer, Real Estate Broker, Financial Advisor, IQCS Certified Lead Auditor & Consultant for ISO Management and Environmental Standards, Certified Total Quality Manager.

Professional Experience and Affiliations: Royal Le-Page Exceptional, Royal Brokers, American Express Bank of Canada, Budget Rent a Car, Moody’s, SGS, PIQC.

Making money in the Real Estate requires an immense amount of market trends analysis. On top of this, it also requires the focus of the variable markets. A huge part of the residential property income comes from the ‘rented properties’. The rental income in Canadian Housing markets and the prices of buying a home via mortgages have fluctuated since 2016. These fluctuations i.e. the immediate rises and falls in prices are largely due to more than one reasons. The forecasts are based on variable readings and analysis of trends and behaviours in the housing markets. Similarly, the 2020 forecasts are based on Yester year’s performances and results.

The reasons can vary due to the size of the huge country i.e. Canada, however, making useful analysis of the trends is a vital element while making investments in the property sector. The investment strategies by most investors have been to diversify their investments. Their goal is also to minimize the risk of investment, which includes property risk as well.

1. 1. WHAT ARE THE ‘HOUSING MARKET’ TRENDS?

The housing market trends are related to the rise and fall in the real estate and property markets. ‘Trends’ means behaviours in a specified time and according to variable demographic conditions and other key variables.  These ‘Trends’ matter mostly in big countries where land is easily available. However, the prices of properties can vary according to the climatic conditions. Additionally, according to the provinces, and according to the real estate behaviours in the last few years.

As Canada is a huge country with a low population density. However,  these stats vary according to the Canadian provinces and the intense climatic hazards. In the ‘Housing market’ trends, ‘country-risk’ is one of the foremost risks. Obviously, these risks depend largely according to the political conditions of the country. Other conditions that relate to ‘country-risk’ are terrorist activities or attacks, war conditions, political instability due to for e.g. Elections, climatic hazards in the form of an earthquake, storms or intense cold conditions.

These housing market fluctuations usually depends & takes place in countries with larger areas and variance in climatic conditions due to the size of the country. Hence, the forecasts usually depend on these fluctuations and country-risk.

Read the related article: CANADIAN IMMIGRATION: AN OVERVIEW OF THE LATEST POLICIES

1. 1. THE ROLE OF ‘INFLATION’ IN THE REAL ESTATE

Inflation in real estate means the prices of property today shall be different from that 10 years later. ‘AROI’ or Annual rate of Inflation for e.g. 10% means that your dollar can buy 90% of the same good the following year, and this also includes property. As an example, we can have a look at this case scenario a bit closer. A piece of underdeveloped land in the year 1970 worth $100,000. However, due to inflation and appreciation, it will be worth many times more than what it was worth in 1970. Therefore, the value of the property will automatically rise with time in most cases. Hence, this variance is according to the ‘appreciation value’ for the land.

1. 1. CANADIAN HOME SALES WILL BE ON A HIGH FOR THE NEXT TWO YEARS

According to the CMHC’s sales forecasts figures that are in most cases accurate. The Canadian home sales have fluctuated since last 4 years i.e. 2016, 2017, 2018 and 2019.  It was at a peak in 2016 then came down in 2017. However, kept falling in 2018 and stayed the same in 2019. For the home sales figures in Canada for 2020 and 2021, there are huge value forecasts. The sales figures will be on an increase especially in the provinces of Ontario and British Columbia. This is mainly because of strong demographic-driven demand for the housing sector.

1. 1. REASONS FOR STABILITY IN NEW HOME CONSTRUCTION IN CANADIAN HOUSING MARKETS

There will be stability in 2020 in the new home construction in Canada. This is primarily due to the demographic demands increasing in most provinces. In 2017 it was on its high according to the stats. This primarily means most constructions of new homes in Canada happened in 2017. However, this trend than declined very sharply and the figures got low in terms of the construction of homes. What’s expected in 2020 and 2021 will be the same as of 2019 figures for home construction. These stats are in line with the historical average for annual home construction.

There are many reasons why the stability in construction matters, the main reason is economic stability and overall property prices. The economic outlook for Canada has stayed positive over the years. This is mainly because builders feel good about picking up the pace in home construction.

One of the key factors of stability in home construction includes a stable labour market and labour laws. Canada is a country that gives labour rights to its construction workers and labours. These rights also include insurance that covers life insurance and injury at work insurance.

1. 1. THE IMPORTANCE OF LABOR LAWS IN CANADA

Labour and construction laws in Canada holds huge importance. Hence, they are a big reason for its economic stability, automatically affecting the stability factors. Designed especially for the sustainability of Canadian citizens. For the sake of the citizens of Canada and their well-being. The labour laws are specially designed to protect the rights of labour and construction workers. There is huge infrastructure in Canada especially in cities like Toronto, Vancouver, Calgary, Ottawa, and Montreal. These are some of the biggest cities in Canada with huge investments in property, which includes both private and commercial.

Hence, signifying the importance that the Canadian Govt. gives to its labour, especially in the housing markets.

1. AFTER DECLINES OF 2019, A RISE IN HOME PRICES

Similar to the sales there have been huge fluctuations in the home prices since the last 2 years. Unlike the home sales of the organization, CMHC believes affirmatively. They think that prices will be the strength in the provinces of Ontario and Quebec. They also think analytically that will lead to growth in the year 2020.

However, by 2021, Quebec will be down in third place. The British Columbia markets will be in the big leagues. Hence, according to forecasts, there will be little gains expected in other regions. However, the three provinces will be the centre of attraction for CMHC.

The rise is due to the increase in demands for homes and new construction. For the future in Canadian Real Estate, this has been identified as a good sign.

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