The Science-Based Targets Initiative (SBTi) introduced new frame for decarbonisation specifically for the building sector, which aims to align with global net zero goals. This comprehensive framework is designed for companies and financial institutions involved in the buildings value chain, calling on them not to commit to new fossil fuel installations and to halve their emissions by 2030. esgnews.com.
The building sector contributes over 25% of global energy-related emissions and is significantly affected by climate change, with construction delays due to extreme weather already costing billions globally.
The SBTi criteria offer a science-based approach to mitigating these challenges by setting tailored emission reduction targets.
“This sector already has the tools to move to net zero – companies and financial institutions need to take immediate action,” says Alberto Carrillo Pineda, Chief Technical Officer of SBTi. “Decarbonising old and new buildings is paramount to tackling climate change. We urge these businesses to lead the net-zero transformation.”
Basic requirements for the building sector
Shutting down fossil fuel installations:
Organizations must publicly commit to stop installing fossil fuel-based systems for heating, cooking, power generation and hot water by 2030.
Reduction of operational emissions:
These emissions are related to the energy consumption of buildings. SBTi, in partnership with the Carbon Risk Real Estate Monitor (CRREM), developed region-specific pathways to reduce in-use emissions, reflecting local variations in electricity grids and building use.
Reducing embedded emissions:
With global built-up area expected to grow by approximately 15% by 2030, most of this expansion will occur in developing economies. The framework calls for reducing emissions from materials production, manufacturing, transport and construction.
Retrofit of inefficient buildings:
Retrofitting of existing buildings, which will account for 80% of the building stock in 2050, needs to double by 2030 to meet the International Energy Agency's 2050 net-zero scenario.
“These tools and practical guidelines provide clear, science-based targets that enable the sector to accelerate decarbonisation and drive the global transition to a net-zero economy. CRREM is committed to continuing the collaboration with SBTi to make significant progress in reducing the carbon footprint of the building sector," stated Prof. Dr. Sven Bienert, Head of the CRREM Consortium.
As the world faces the pressing issue of climate change, the SBTi building criteria represent a key step forward. By adhering to science-based goals, companies can take responsibility for transforming the construction sector, promoting a more resilient and sustainable future.