BPIE (Buildings Performance Institute Europe) has published a vision and a step-wise roadmap for retail real estate to reach 2050 net zero carbon emissions, in line with the Paris Agreement
The roadmap is the result of over one year of engagement with 14 European and global retail property developers, investors and managers. A first-of-its-kind effort, it provides detailed guidance for the entire retail property value chain to reach net-zero carbon, which includes the property sector, policymakers, commercial tenants, the construction sector, and financial institutions, by 2025, 2030, and 2040.
“Retail real estate buildings and portfolios must achieve zero carbon throughout their lifecycle, including development, refurbishment, and operation,” asserted Oliver Rapf, Executive Director of BPIE. “Importantly, the construction of new buildings and renovation of existing assets will need to happen without further depleting our carbon budget.”