RE: VISITED – The Great Office Occupier/Developer Debate follow-on series brings together some of the key themes from our 2021 debates, alongside reflections of the past year and how the real estate industry is evolving to meet the new challenges around the issues of sustainability, lease flexibility and wellbeing.
Part one in our six-part series looks at the sustainability and net zero challenge for occupiers. Numerous major occupiers are now driving a demand for premises that offer net zero carbon, technologically advanced, space. Boards are setting optimistic, aspirational, sustainability targets across the company, from supply chain to end-user, with office space being a major factor in this overall picture. Unless the occupier owns or leases the whole however, it relies on the landlord playing a major part in helping the company achieve those targets. This is another vitally important alignment factor in matching demand and offer. It is likely to become ever more important as we progress towards the promised global net zero deadline dates.
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According to Vivid Economics, it will take $5.2 trillion over the next decade alone to decarbonize the built environment. To be in line with the Paris Agreement and maximize our chances of limiting rising temperatures to 1.5 degrees Celsius, the built environment must aim to cut emissions by 50% by 2030 and be net zero carbon by 2050 at the latest.