Why we need global cooperation on decarbonizing cities and real estate
Source:World Economic Forum
- Given more than 60% of carbon emissions within cities typically come from buildings, a concerted effort to decarbonize real estate is needed sooner rather than later.
- With little harmonization or integration, cross-border real estate investors and end-users are struggling to navigate the global net zero carbon regulatory landscape.
- We’re reaching an inflection point where governments and the real estate industry need to work together on greater harmonization and consistency of policy, regulation and reporting.
In an increasingly challenging and volatile world, the urgent need to decarbonize real estate remains a constant.
There are no quick fixes that will suddenly transform today’s energy inefficient buildings into models of sustainable construction in the coming decades. It will take time, investment and expertise to retrofit the majority of buildings across urban areas.
Yet given that more than 60% of carbon emissions within cities typically come from buildings, a concerted effort is needed sooner rather than later.