LOS ANGELES, Oct. 14, 2021 /PRNewswire/ -- Today, Fifth Wall, the largest venture capital firm focused on technologies for the global real estate industry, launches the second mural in its multi-city campaign to bring public attention to the real estate industry's need to start investing into climate technology now. Timed with the Milken Institute's Global Conference taking place October 17-20, the Los Angeles mural installation aligns with this year's conference theme "Charting a New Course," encouraging swift action to save our planet. The Fifth Wall mural campaign will continue later this month in Glasgow, Scotland, leading up to COP26, the UN Climate Change conference.
The mural reads, "What planet are you on? Choose Earth." which pokes fun at the current space race to colonize Mars while encouraging people to prioritize our current home, Earth. 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 $18 trillion will need to be invested by the real estate industry 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. A video produced by the firm provides a behind-the-scenes look at the creation of the mural in Los Angeles' Venice neighborhood and shares the inspiration behind the campaign. Watch it here.
Last month, Fifth Wall kicked off Climate Week NYC with its first mural and announced that the Fifth Wall Climate Tech Fund raised over $140 million from major real estate players, including new investors such as Equity Residential, Hudson Pacific Properties, Cosan, and Kimco Realty Corporation who joined existing investors, Invitation Homes and Ivanhoé Cambridge. Earlier this month, Brazilian energy company, Cosan, announced its investment in the Fifth Wall Climate Tech Fund, representing 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 help close this alarming funding gap to climate technology and reduce the real estate industry's outsized carbon footprint.
"While the long-term possibility of multiplanetary civilization is adventurous and inspiring, the near-term priority is clear -- we must choose Earth. Investing in climate technology is absolutely critical to decarbonizing real estate, among other industries," said Brendan Wallace, Co-Founder and Managing Partner at Fifth Wall. "Fifth Wall's Climate Tech Fund presents an opportunity for sustainability-focused real estate firms committed to reducing carbon emissions to do so through investments in climate technology that addresses decarbonization across all stages and asset classes within the global real estate industry -- the single largest contributor to the climate crisis."
The Los Angeles installation was created in collaboration with BBMG, a branding and social impact agency and muralist, Kent Yoshimura. Located at 6 Rose Avenue in Los Angeles' Venice neighborhood, the mural features a whimsical depiction of a subject standing on Mars and choosing to take a leap of faith back towards Earth.
Kent Yoshimura, the artist and multimedia creative who painted the mural, has directed content for global brands such as AT&T, Ford, Lego, McDonald's, and more. He co-designed The Zone, an immersive 30,000-foot pop-up dubbed the "ultimate Britney Spears fan experience," The Sixth Collection for Jerry Lorenzo's streetwear brand Fear of God, and Diddy 50, a one-night event that celebrated the 50th birthday of Sean Combs.
Kent feels strongly about incorporating sustainability into all aspects of his life and work. He leans on his background in children's book illustration when approaching sustainability from an artistic perspective, noting that many of his mural themes are depicted from the whimsicality and hopefulness of children's illustrations, while elevating a more nuanced narrative around topics such as climate change. To learn more about Kent's work visit www.kents.world.
Fifth Wall's mural initiative was made possible by Beautify Earth, a technology platform that connects artists, building owners, and mural sponsors to transform bare walls into public art that inspires both culturally and economically.
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.
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