Decarbonization Requires Faster Pace of Retrofits

https://inside.lighting/news/23-08/decarbonization-requires-faster-pace-retrofits

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article discusses the crucial role of retrofitting existing buildings in achieving global carbon emissions reduction targets, particularly in the context of the 2016 Paris Agreement's goals. Buildings currently account for 39% of global energy-related emissions, making them a key focus for decarbonization efforts. To meet the Paris Agreement's objectives, the rate of building retrofits in the Global North must triple, according to a report by Jones Lang LaSalle (JLL). Various regions, such as New York City, have implemented policies to drive energy efficiency and carbon reduction in buildings, creating a market for retrofitting solutions. Decarbonizing existing buildings not only mitigates climate change but also attracts tenants and enhances property values. Additionally, it aligns with the growing emphasis on Environmental, Social, and Governance (ESG) criteria in the asset management industry. Ultimately, the article emphasizes that retrofitting existing buildings is a cost-effective and swift approach to accelerate decarbonization in the built environment.