Defining Net Zero Carbon In Real Estate
The real estate sector has a significant role to play in the commitment to reach net zero carbon (nzc) by 2050.
The basic principle of nzc is that the greenhouse gasses (ghg) emitted to the atmosphere by the activities of a building, fund or company are balanced by the removal of an equivalent quantity of emissions over a given period of time.
While this concept is simple at face value, lack of uniformity in definitions across the market means two public commitments to net zero can mean very different things.
With definitions ranging from carbon neutral to absolute zero, to ensure compliance with 2050 net zero a strategic approach is required.
The paris-proof principle is a concept where the built environment is only consuming the level of electricity that is expected to be to be produced from zero-carbon sources.