What’s the news?
- According to Paper released by WEF, Construction and operation of buildings are responsible for 38% of global emissions and there is an urgent need for solutions to help accelerate decarbonisation of the urban-built environment to limit the global temperature rise to below 1.5°C.
News in detail
- The paper, produced in collaboration with Accenture, also noted that numerous technologies exist to help decarbonise the sector but there is an urgent need to accelerate investment to implement these solutions at scale in cities around the world.
- With over half of the world’s population living in cities and producing over 70% of carbon emissions, “Cities” play a key role in combating climate change.
- The WEF said its ‘Net-Zero Carbon Cities Building Value Framework’ seeks to accelerate investment by overcoming obstacles related to “financing”.
- The paper also cited examples, including of the Belgian real estate company Extensa using complementary solar and geothermal technologies to renovate and refurbish an old railway station in Brussels.
- The Building Value Framework presents an approach to help accelerate the investments needed to deliver a greener urban built environment
- Thus, if the world is to keep pace with limiting the global temperature rise to below 1.5ºC compared to pre-industrial levels, a transition to a clean electrified world is needed.