Two-thirds of the UK commercial property sector think World Green Building Council (WGBC) 2050 net-zero carbon targets are achievable, according to a new study.
With the long-awaited COP26 Climate Summit under way in Glasgow, the research among UK institutional real estate investors and property professionals has revealed a positive response from the sector to meeting climate change challenges.
More than half (52%) of respondents said COP26 would create a greater focus on environment, social and governance (ESG) issues across the property life cycle, from design to occupancy.
ESG is proving a force for good for the UK commercial real estate sector.”
Katie Whipp, head of Deepki UK.
Nearly half (48%) of those surveyed said retrofitting, or addressing the carbon footprint of older buildings, was a priority.
Some 44% said COP26 would encourage even more asset owners to address the poor performance and carbon footprint of their buildings with far-reaching environmental strategies.
More than two-fifths (42%) expected an increasing number of older buildings to be retrofitted to improve their carbon footprint, rather than being demolished, and 40% anticipated tighter regulations on new build properties to ensure the best environmental performance.
Net-zero confidence high
Nearly two-thirds (64%) said the WGBC’s target for all buildings to achieve net-zero carbon by 2050 was realistic and achievable.
The research was carried out by ESG data intelligence firm Deepki, which has urged property developers to make sure buildings are not just ESG-compliant now but also that they can stand the test of time as standards become tougher over the long-term.
Katie Whipp, head of Deepki UK, said: “ESG is proving a force for good for the UK commercial real estate sector, which is responding positively and proactively to the 2050 net-zero carbon target.
‘Timely and crucial’ milestone
“COP26 is a timely and crucial milestone on this journey, providing an opportunity for the sector to collaborate and learn lessons from others.
“Deepki’s data intelligence, analysis and expertise is vital to helping asset owners and managers understand how ESG-compliant they are and in establishing a pathway to net-zero.”
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