Buildings are responsible for almost 40% of global GHG emissions, of which 72% are related to energy for building operation and 28% to energy embodied in construction materials. CRE needs to clean up it’s act and renovate their carbon intensive portfolio. Or do we?
Retrofitting is an important tool in the decarbonization toolbox, but it comes with some inherent drawbacks. Retrofits are extremely capital and resource intensive. Procuring and disposing of materials results in increased waste and additional costs, ultimately adding to a hefty embodied carbon price tag. There is also the issue of scale—there are just too many buildings to retrofit. Most importantly is time. With the looming threat of the climate crisis, we just do not have the time to retrofit our way out of it.