Global emissions are 38% of which are caused by construction and operation of buildings. The World Economic Forum stated in a paper that Friday that there is a pressing need to accelerate decarbonization of urban-built environments to limit global temperature rise to below 1.5C.
Accenture collaborated on the paper. It also pointed out that there are many technologies available to help decarbonize the sector, but that it is urgent to accelerate investment in these solutions in cities around the globe.
The paper proposes a more holistic approach to decision making, recognising the importance both of system and social outcomes.
According to the WEF, cities are a key part of combating climate change. Over half of the world’s inhabitants live in cities, and they produce more than 70% of carbon emissions.
It was stated that leaders in sustainable buildings have begun to consider the social and environmental impact of their decisions-making. Many obstacles to investment in net zero buildings still relate to financing, both perceived and real.
According to the WEF, its ‘Net Zero Carbon Cities Building Value Framework’ aims to accelerate investment by overcoming such barriers.
The paper also included examples of Extensa in Belgium, which used complementary solar and geothermal technologies to renovate an old railway station in Brussels.
Another case study was from Turin, Italy. It said that a municipality in collaboration with Enel X, a leading smart energy service provider, retrofitted municipal buildings to increase energy efficiency and on-site generation.
Geneva-based WEF, which is an international organization that promotes public-private collaboration, said that its Building Value Framework flexibility allows it to be used for both retrofitting and refurbishing existing buildings as well for the construction of new ones.
It is clear that the urgent need to move cities around the globe towards a net-zero-carbon future is apparent. The Building Value Framework provides an approach to accelerate the investments required to deliver a greener urban environment,” it said.
“If the world is to limit the global temperature increase to below 1.5C, compared to preindustrial levels, it will need to transition to a clean, electrified future,” the WEF stated.
(This story was not edited by Devdiscourse staff. It is generated automatically from a syndicated feed.