All around the world, a growing number of companies and organizations are working together to help transform the global economy into a force for good. They, like us, believe that the power of business, properly harnessed, is the key to creating a sustainable, equitable, and prosperous world. One company at a time, a cultural transformation is taking place across the business world. Companies like ours are gradually redefining our missions to prioritize the welfare of all stakeholders, extending beyond the sole focus on shareholders.
The time for change is now, as our current economic system has fallen short of its potential to generate positive outcomes for people, communities, and the planet. The pursuit of profit above all else is no longer serving the urgent needs of our society. We are experiencing a decrease in individual well-being and social harmony, growing inequities in our social and economic structures, and environmental degradation.
Arguably the most pressing and far-reaching concern we face today is the climate crisis. Its global impact places it squarely at the top of our world's priorities. And just as we're all stakeholders in the climate, addressing the problem will require heightened commitment from all of us, especially the business world. The real estate industry, for instance, wields significant influence over climate change, and consequently, presents several unique opportunities for transformative action.
Consider that, the real estate sector accounts for 40% of global carbon dioxide emissions (link), as well as the destruction of over 100 million trees per year. That's equivalent to the emission from about 9 million cars (link) and is the is the direct result of junkmail (link), of which almost one quarter originates from the real estate sales industry. Its time business does better, and with that intent, Torontopia was born.
From the beginning, we knew that our pathway to positive change would include continuing to provide the most successful buying and selling experiences possible for our clients. Without thrilled clients, there is no business...period. So we implemented new systems and practices to ensure that our business operates in a way that is both socially conscious and 100% sustainable, without sacrificing any of the client experience. Next, we took a closer look at the homes we help our clients buy and sell, and found opportunities to make positive impacts on them as well. Finally, we implemented practices that help make Toronto, a greener, more equitable and all-around better home for all of us, including donating 100% of our after-tax profits to charities with shared missions.
