Despite laudable efforts, the retail real estate industry lacks a common vision and strategy to achieve full decarbonization by 2050. Shopping spaces must become ‘Paris-Proof by 2050’, which means that property developers and investors in retail spaces need to rethink the design, purpose and sustainability of their building portfolios, all while juggling complex relationships with tenants and the impacts of economic downturn.
The retail real estate sector, which includes owners of large retail parks, commercial retailers, and investors, needs clearly defined targets and tailored pathways on how to accelerate decarbonization, while simultaneously creating buy-in and value for their organisations, shareholders, and customers. On the other end of the spectrum, policymakers need clear roadmap aligned with EU climate targets that will enable the retail property sector to successfully reach climate-neutrality by 2050, while ensuring policy measures do not hamper economic recovery and growth in the short and medium term.
To tackle this issue head on, BPIE, together with a number of leading retail property companies, including Redevco, Longevity Partners, and Nhood, have jointly identified strategic pathways that can be followed and used by the industry and EU policymakers, putting retail on the path to climate-neutrality. The strategic pathways are driven by a common industry vision which seeks to bring industry and policy closer together. To achieve climate-neutrality, collective action and shared responsibilities is vital.
What you’ll learn
- What does ‘zero-carbon’ really mean for the retail building sector?
- What are the strategies and best practices that retail asset owners are using now to decarbonise their portfolios?
- How do leading industry experts envision the road to decarbonisation?
- What are the principles and requirements for achieving zero-carbon outcomes?
- What should be the roles and responsibilities of asset owners, tenants, financial institutions, buildings’ solution providers, and policymakers?
- How to set clear boundaries for establishing carbon neutrality targets and pathways?
… And crucially, to ensure 2050 climate-neutrality of the retail real estate sector, who needs to do what, and by when?