The Better Buildings Partnership has published a Net Zero Carbon Pathway Framework to support signatories to its Climate Change Commitment and inspire greater transparency in the scope of property owners’ net-zero carbon plans.
Developed using input from BBP members, the comprehensive framework sets out the information that property owners should include in their Net Zero Carbon Pathways, including the investment boundaries, carbon scope and delivery strategies. The group believes that the framework should help to reduce ambiguities about the scope of net-zero carbon commitments “by encouraging consistency and providing transparency in the way property owners are setting net-zero carbon targets”.
The BBP Climate Change Commitment has been signed by more than 25 large real estate owners and investors and requires all signatories to publish their Net Zero Carbon Pathways by the end of the year. It sets clear boundaries that apply equally to all signatories, covering as many real estate assets under management as possible and including emissions from all activities associated with the development, operation and servicing of commercial real estate investments.
The BBP hopes that the framework will also be a useful reference guide for the wider industry, developing over time to reflect growing knowledge as the sector gets a hold on the practicalities of delivering net-zero carbon.
Nina Reid, chair of the BBP Net Zero Carbon Pathway Working Group, and a director at M&G Real Estate said: “The path to net-zero carbon is complex, challenging and uncertain, with much of the detail still unknown. However, this is not a reason to delay action. It is critical that the real estate industry acknowledges the important role it has to play, embraces the challenge, and collaborates.
“This framework provides much-needed clarity in the way real estate owners should approach the development of net-zero carbon pathways, providing collective action and transparency that will help move the industry forward.”
The framework can be used by any property owner wishing to develop its pathway and the BBP hopes to inspire all commercial property owners to follow it and sign up to the BBP Climate Change Commitment.
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