Retrofitting offices and industrial buildings can deliver the required energy reductions to support the UK’s 2050 net zero targets, according to global real estate consultants JLL.
Yet the routes to net zero carbon buildings report published by JLL remains optimistic the UK can meet its targets if it takes the right steps now to replace and renovate its building stock.
It also sets out proposals to support the business case for retrofit, as well as the opportunity to reduce energy waste through more efficient use of tenant small power and lighting.
The UK became the first major economy to commit to a legally binding target for net zero carbon emissions by 2050 with some cities such as London, Edinburgh and Birmingham pledging to go even faster.
Emma Hoskyn, head of sustainability at JLL UK, said: 'The UK has set ambitious targets and there remains a strong will to reduce the outsized impact of the built environment on emissions, particularly in our largest cities.
'But we will need a retrofitting revolution if we are to achieve our targets and reduce emissions. The UK needs to exceed a retrofit rate of 3% of current stock per year to meet the 2050 target.'
Globally, the built environment accounts for roughly 39% of carbon dioxide emissions. As JLL’s recent decarbonizing cities and real estate report reveals, this figure rises to nearly 80% in cities such as London.
JLL predicts the pace of redevelopment and repurposing of office stock will need to double if emission targets are to be achieved.
Hoskyn added: 'While this represents a significant challenge, it is also a major opportunity – carbon refurbishment and higher standards for new buildings will result in long-term energy cost savings.
'In a time of high fossil fuel prices and volatile supply levels, this should focus minds on what we need to do realise this ambition and accelerate the shift in how we power buildings. We also need to be aware of the quick wins we can make in a time of high energy costs. Upgrades to fittings and more sophisticated controls can cut electricity bills by a quarter.
'We recommend making your buildings transition to net zero a priority – as well as making long-term cost savings, it will enhance your asset value and meet the growing demand for occupiers to be net zero.'
