1. Why is retrofitting buildings for sustainability important?
Within the last 50 years, greenhouse gas emissions have increased by 90%, and buildings contribute 37% of global CO2 emissions. 30% of the energy consumed in buildings is wasted, with many still using fossil fuels for loads like heating. To limit global warming by 2050 to the Intergovernmental Panel on Climate Change (IPCC) – specified 1.5°C, every effort must be made to decarbonise buildings. We encourage you to explore our strategies for retrofitting buildings for sustainability to decrease your carbon footprint and improve energy efficiency for a more sustainable, net-zero future.
2. Why do we need net-zero buildings?
The new, green mindset of tenants, employees, and investors is flourishing. Today, 81% of tenants expect their work buildings to improve their environment and well-being. 65% of hiring prospects say they would be more likely to work for a company with robust environmental policies. Property investors expect corporate environment, social, and governance reporting. Building health and sustainability certificates help enhance occupant satisfaction while strengthening brand image. Furthermore, a new market with new operational challenges is emerging. Ageing equipment can increase risks to safety and reliability and costs for repair or replacement due to supply chain shortages. As systems become more interconnected, automated, and power-sensitive, their maintenance and lifecycle management becomes more complex. Additionally, as facility experts retire and operational demand ramps up, new hiring is more difficult due to the shortage of skilled workers within electrical, facility, plant, and cybersecurity management. It can lead to smaller, less experienced in-house teams having a greater scope of responsibilities across multiple facilities. Retrofitting buildings for sustainability might be a solution to the issue. The race to net zero campaign has mobilised 75% of worldwide countries to commit to net zero by 2050. To meet these expectations, governments are launching aggressive approaches to reduce existing building emissions. There are new mandatory standards and regulations within each jurisdiction and several voluntary standards and certifications to equip teams with best-in-class energy management practices. Financial risks and opportunities are growing. Local regulation non-compliance financial risks, from fines to taxes (such as carbon tax which penalises fossil fuels use), are increasingly more common in several countries. However, government financial incentives can offset your CapEx for sustainable retrofits.
3. Where to start sustainable retrofits and net-zero buildings?
We have prepared a three-step (strategize, digitise, and decarbonise) approach that bridges ambition with action to achieve financial and non-financial values. Whether you’re just beginning your path to net zero, have taken intermediate steps already, or are advanced on your journey, we can support you at every step to retrofitting buildings for sustainability.