GRESB article: Carbon neutrality and net zero carbon implications for real estate
Ben Ross and Luke Riseborough from our Aim for zero team within Real Estate have co-written an article for our partners GRESB, outlining carbon neutrality vs net zero carbon and market evolution within real estate.
Carbon neutrality and net zero carbon are two of the most frequently used terms to define the requirements of action to mitigate climate change, however there is a significant lack of clarity around what they actually mean. Many frameworks have been developed in the last few years to try to help. In real estate alone, there are a variety of routes that investors are pursuing in defining and delivering their net zero targets. The scope of these commitments ranges from the corporate level to asset level, with varying boundaries on the emissions sources encompassed by the targets.
The complex landscape is causing confusion for many market actors. This risks the misalignment of climate ambitions, detracting from what must be a focus on creating a zero carbon economy and avoiding the worst ravages of climate change.
Read the full article for a deep dive into:
- The most frequently used terms; carbon neutrality and net zero carbon and what they actually mean.
- The risks to the real estate industry when other terminology is used by organisations that can potentially lead to criticism of greenwashing.
- How net zero definitions are constantly evolving and the variety of publications and frameworks that have arisen.
- How the challenges will only continue as real estate transitions to low carbon operations and commitments.