Property sector’s net zero 2050 target ‘will be missed’ – Edward Glass speaks to Property Week

Commercial Real Estate Senior Associate, Edward Glass, has contributed to Property Week’s latest commentary on how the majority of senior property industry leaders believe the government will fail to deliver a net zero property sector by 2050.

The British Property Foundation’s (BPF) new report, published in collaboration with JLL, has predicted that “existing net zero carbon policy is not sufficient to achieve the 2050 target.”

The report identifies the primary challenges blocking the industry’s decarbonisation progress, urging government to provide “clear long-term policies”, while a lack of clear financial incentive to support retrofitting was hindering net zero commitments.

Property owners and occupiers surveyed by the BPF also rated poor access to quality data as a major barrier, and the industry body has called on Whitehall to set out new data sharing policies, including mandating data sharing of energy consumption between property owners and occupiers of large commercial buildings.

Edward commented that it was time for government to “give the industry the regulatory certainty it craves.”

He pointed at government consultations on MEES thresholds and a first mandatory performance-based energy rating system which, despite years having passed, have still not progressed.

“Quite rightly, the BPF are calling this out”, he added.

This article was first published in Property Week on 23 February 2023 and is available to read in full here, behind their paywall.