Climate-Related Risk Playbook for Building Owners – Office Buildings

REALPAC is pleased to release the Climate-Related Risk Playbook for Building Owners – Office Buildings, developed in collaboration with REALPAC members, the Canada Green Building Council, and JLL Canada, with support from Natural Resources Canada. Designed to offer practical guidance, this playbook helps asset and investment managers navigate both physical and transition climate risks.

Canada’s office sector is being reshaped by hybrid work, a flight to quality, and rising climate expectations, making risk management increasingly important for owners and investors. To remain competitive, office assets must improve energy performance, reduce emissions, and strengthen resilience to extreme weather. Because tenant use and lease structures often influence building performance, effective decarbonization requires coordination, careful capital planning, and proactive climate risk assessment to protect long-term asset value.

This playbook is structured around three key areas:

• Introduction
• Financials
• Technology & Operations

In addition to the Office playbook, REALPAC has also released playbooks for the Apartment, Industrial, and Retail sectors. The four playbooks examine regulations, portfolio- and asset-level decision-making, and financial implications. They also provide guidance on carbon transition planning, emissions reduction prioritization, and physical climate risk assessment and planning, including resilience considerations related to extreme weather events.

Together, the playbooks support more informed, data-driven decision-making as the sector advances toward a lower-carbon, more climate-resilient future.