IPF commissions investigation into net zero carbon pathways
Transitioning global real estate to net zero carbon emissions represents an unprecedented challenge, which will require exceptional levels of collaboration and alignment around clear and consistent objectives.
The IPF Research Programme has commissioned Verco to undertake a study that will set out how this challenge varies between sectors and geographies, as well as to review the extent to which the range of frameworks currently in use can address the issues faced, together with the changes that may be needed to achieve the ideal of net zero carbon buildings. Potential unintended consequences will also be explored, such as a shortage of capital for harder to decarbonise assets and high embodied carbon emissions from demolition and re-building to meet stringent operational energy and carbon targets.
Ben Sanderson, Executive Director of Fund Management, Federated Hermes, current IPF chairman and chair of the IPF’s International Special Interest Group, will head the Project Steering Group responsible for overseeing the research. He commented: “The demands of transitioning global real estate assets to a net zero pathway is arguably the biggest collective challenge the real estate investment market has ever faced. The IPF research programme has always sought to enhance knowledge and understanding of the most significant real estate investment market issues. Through this study it is hoped it will make a significant contribution in helping global capital make the transition to net zero by enhancing the understanding of the different approaches, issues and challenges associated with that net zero transition.”
Verco Managing Director, Dave Worthington, and Project Director, commenting on the work they will be undertaking, said: “We are delighted to have been selected by the IPF to undertake this important research and support the international real estate sector with the transition to net zero emissions. We hope that the work will help the industry to adopt a common vision for the delivery of net zero buildings, and accelerate the investment required.”
The research findings are scheduled for publication in late 2021.