Shifting to Neutral to Drive Real Estate Sustainability in China
Climate change today is the result of human-activity-induced greenhouse gas (GHG) emissions, and changes in global weather patterns.
Moving forward, it has been suggested that limiting warming to 1.5 °C (2.7 °F) would necessitate halving emissions by 2030, then achieving near-zero emissions by 2050. But whether this is achievable or not is currently a question up for debate.
According to the World Resources Institute (WRI), China can produce nearly US$1 trillion in net economic and social benefits in 2050 by adopting an ambitious net-zero climate plan.
Ahead, China’s 14th Five Year Plan (FYP) looks set to build upon the environmental sustainability initiatives China has undertaken in the past. Strengthened climate and air pollution control measures will ensure the road ahead in the region will be healthier and cleaner as the country moves to carbon neutrality by 2060.
According to The 2020 Global Status Report for Buildings and Construction report by the United Nations, while global building energy consumption in 2019 remained steady on an annual basis, energy-related carbon dioxide emissions increased to 9.95 Gt in 2019. When adding emissions from the building construction industry on top of operational emissions, the building sector was responsible for 38% of total global energy-related carbon dioxide emissions.
In order to reduce the amount of energy used by, and carbon emissions from, buildings in China, it will be important to take the next step and go carbon neutral.