Seven leading industry associations have formed a new taskforce to develop a comprehensive real estate carbon pricing strategy.
The new strategy will enable pricing to be incorporated into investment decision-making and accelerate its adoption.
The initiative has been developed as part of the C Change programme, set up by the Urban Land Institute (ULI), to mobilise the industry to accelerate the decarbonisation of the built environment across Europe.
The task force is comprised of EPRA (the European Public Real Estate Association), GREEN (Global Real Estate Engagement Network), INREV (the European Association for Investors in Non-Listed Real Estate Vehicles), IIGCC (the Institutional Investors Group on Climate Change), RICS (the Royal Institution of Chartered Surveyors), and WBCSD (the World Business Council for Sustainable Development).
Lisette van Doorn, CEO of ULI Europe, commented: 'Real estate is the second-largest contributor of carbon emissions globally, and so industry wide collaboration is essential for us to jointly develop standards and find solutions we need to tackle climate change. While an important tool to help build the business case for low carbon solutions, a recent ULI C Change survey demonstrated that internal carbon pricing is still a ‘minority activity’ in the built environment. Lack of knowledge and consistent data, including financial and educational, were identified as the main barriers to implementation.’
A series of workshops will be organized in May to help businesses understand and implement internal carbon pricing. The aim is to share key insights from the workshops with members at the C Change Summit in the autumn.
