Contributing around 37 percent of energy related carbon emissions, the built environment has a clear responsibility to urgently decarbonise real estate to meet international climate targets and mitigate climate change risks. However, with estimates suggesting that up to $24.2 trillion — or nearly 17 percent of global financial assets — could be at risk due to climate-related financial shocks under high-emissions scenarios, the real estate sector in particular must act swiftly.
In Europe alone, approximately €1.5 trillion ($1.7 trillion) worth of property is at risk of devaluation without deep retrofitting to meet tightening energy and carbon standards, underscoring the urgent need for scalable, sector-wide solutions to accelerate decarbonisation and preserve asset value.
To address this, a new report from the Urban Land Institute (ULI), suppo
