Reducing emissions through buildings, not plant-based burgers

author: FutureCar Staff    

The key to reducing our emissions lies in our buildings, rather than meatless burgers, according to Gregory Dewerpe. Despite being encouraged to abandon plastic, meat, and cars for the past eight years, these measures have not made a significant impact on emissions. Instead, billions of dollars have been invested in distractions that do little to address climate change.

During these eight years, global temperatures have continued to reach record highs. Europe, in particular, has experienced extreme weather conditions, leading to devastating wildfires and floods. Focusing on initiatives like achieving an all-vegetarian population will not be effective, especially considering the urgency of the situation. It is crucial that we shift our focus and prioritize sectors that have a more substantial impact.

The built world, encompassing the places where we live, work, shop, and create, is the most carbon-emitting sector globally and requires urgent transformation. This is where our energy and capital should be directed if we want to make a difference. Real estate, as the world's largest industry valued at $330tn, is also the least digitized and most polluting asset class. Concrete alone contributes up to 8% of global greenhouse emissions, and the construction and demolition of buildings generate a third of solid waste in Europe and North America. The built world industry is responsible for 40% of global energy-related carbon emissions.

The scale of these emissions is staggering, and if left unchecked, they are projected to double by 2050 due to population growth and rapid urbanization. The challenges faced by the built world are further compounded by economic factors such as rising interest rates and inflation. Additionally, the shift towards remote work has significantly impacted cities like London, resulting in a 14% vacancy rate in office spaces.

Europe, in particular, has a unique advantage in addressing these issues, with over $4.5bn invested in green construction technology between 2017 and 2022. More than half of these investments were made in Europe, which boasts world-leading regulations in renewable energy, building standards, and sustainability. The research conducted at European universities has the potential to establish a climate tech industry that can serve the entire world.

Climate tech has defied broader economic trends, attracting a record $65bn in venture capital funding globally last year. It is crucial for this sector to transform traditional industries, such as steel and cement, which currently contribute to 20% of global GDP. Innovations are being seen throughout the entire lifecycle of the built world, from supply chain improvements to the development of new materials and construction techniques, as well as advancements in building operations and management. Every aspect of the built world presents an opportunity for decarbonization and increased efficiency.

Furthermore, we must acknowledge that time is of the essence. A deadline like 2050 may seem distant, leading to political complacency and a false sense of security that we can delay implementing real change. Investors play a crucial role in directing capital towards industries that can drive meaningful change. If we fail to act with urgency and focus, we risk running out of time.

FutureCar Staff