In a new report entitled “Accelerating the Decarbonization of Buildings: The Net-Zero Carbon Cities Building Value Framework,” the World Economic Forum (WEF) contends that accelerating the decarbonization of buildings "requires a shift in how value of investment is perceived and defined." As pointed out by the WEF:
The construction and operation of buildings generate 38% of global greenhouse gas emissions. While numerous technical solutions exist to help decarbonize the sector, investment and finance remain significant barriers to achieving a greener and more sustainable built environment.
According to the World Green Building Council, green buildings will represent a $24.7 trillion investment opportunity by 2030, demonstrating tremendous demand and potential to drive sustainability in urban built environments.
To help address this challenge, the WEF Net Zero Carbon Cities program has developed its "Building Value Framework," with collaboration and input from cross-industry experts and leaders across the built environment sector.
According to WEF, the Building Value Framework initiative "aims to shift how the value of decarbonization investments are perceived and defined – to consider the social, environmental, and system performance outcomes – in addition to traditional financial measures."
The new report is a briefing paper presenting the Building Value Framework concept and key insights gained from case studies conducted to date.
The framework is intended to support key decision-makers, such as building owners, asset managers, real estate developers, and investors, to decarbonize buildings using a more holistic approach.
The document incorporates a detailed description of financial and non-financial value outcomes from the investments, as well as a practical checklist (see above) for future-proof investments in buildings.
Additional content, including case studies and updates to the operational checklist, will be developed and posted to the WEF site in the coming months, stated the Forum.