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16 Mar 2023
World Green Building Council Urges Financing Decarbonization to Get "Ahead of the Wave"
A new paper, Ahead of the Wave', released by World Green Building Council (WorldGBC) today (2 March 2023) calls on the European financial and real estate sectors to take action as key players in the transformation wave to a sustainable built environment.
The finance sector is well-positioned to boost the transition to a sustainable built environment and take advantage of its leverage. Financial actors' investment, lending, and insurance underwriting decisions shape tomorrow's real economy. Investment decisions taken today will have repercussions for the built environment in years to come, so sustainability needs to be firmly at the top of the agenda.
Cristina Gamboa, CEO, WorldGBC said:
"Green investing is a no-brainer for the building and construction sector; for mitigating against climate and financial risks, as well as creating better social value for our communities. Simply put, if you're not investing in sustainable buildings now, then you're not long-term investing. We need a deep systemic shift to transition financial flows towards decarbonised, resilient and equitable built environments. And I am proud of the work that our European Green Building Councils have been doing to accelerate this shift."
In light of the climate, energy and resource crises, there is no excuse for inaction: stakeholders in the real estate and finance sectors need to invest in the transition towards a decarbonised building sector.
- Roadmaps and voluntary frameworks pave the way
Roadmaps, produced under the WorldGBC #BuildingLife project, which is funded by the Ikea Foundation, Laudes Foundation and European Climate Foundation, clearly set out short, medium and long term actions. They are an invaluable resource for investors seeking clear, actionable guidance to start making immediate carbon reductions.
Complementary to national roadmaps, voluntary frameworks, like GBC-run sustainable building certification schemes, can guide sustainable actions and the shift to sustainable finance.
Ahead of the Wave' builds on the work achieved by the #BuildingLife consortium and takes a financial perspective. The paper covers:
- The risks and challenges of the real estate and finance sectors but also the power of collaborative efforts to tackle them
- An overview of the EU's sustainable finance policy package showing the legislative wave of change
- Available frameworks and resources for climate change mitigation financing from pledging, to planning, to implementing action
- An appendix of resources on Whole Life Carbon and sustainable finance in the built environment.
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