The real estate and construction sector must develop a more systematic and coherent approach to data management if it is to make a meaningful contribution to meeting global climate targets, according to a new RICS report presented at the COP23 climate summit in Bonn on 9 November.
The report, entitled Global Trends in Data Capture and Management in Real Estate and Construction, was presented as part of the COP 23 Building Action Symposium held during the climate conference.
It aimed to identify key actions that could help achieve low-carbon, energy-efficient buildings and foster a construction sector that will represent a tangible contribution to implementing the Paris Climate Agreement.
The report draws on the views and insights of building sector leaders who are part of the Global Alliance for Buildings and Construction (Global ABC). The Global ABC, of which RICS is a founding member, was established at COP21 in 2015 to develop a more coordinated sectoral approach to tackling climate change.
RICS is convinced that better whole life-cycle data capture, management and reporting will enable government decision-makers to develop more effective sustainability policies and incentive schemes, kickstart innovation and enable industry players to develop holistic strategies targeted at reducing carbon emissions.
‘Following an extensive global survey of our stakeholders, the report pulls together how collecting, managing and sharing data across the sector can support larger climate goals,’ said Ursula Hartenberger, RICS global head of sustainability. ‘Better data means more market transparency, more informed decision-making, reduced investment risk and the ability to track and measure the all-important targets set out in the Paris Agreement.’
Global warming
The Paris Agreement aims to keep the global temperature rise well below 2 degrees Celsius and to limit the temperature increase even further to 1.5 degrees Celsius. It was signed by all negotiating countries and has been ratified by 75 member states.
In the European Union, buildings account for 40% of EU energy use, and it is estimated that the EU needs to invest around €100 bn annually in building renovations to meet its energy and climate goals.
The EU has increased the amount of public funds available for energy efficiency, but the European Commission has indicated that there is a need to boost private energy investments.
