Big names team up for European low carbon building label
A group of European real estate organisations has launched an accreditation system for low carbon buildings.
The Low Carbon Building Initiative, launched at MIPIM, is supported by listed Dutch investor NSI, Italy’s Generali Real Estate, France’s BNP Paribas Real Estate, developer BPI and investment manager ICAMAP and WO2 from Luxembourg, French real estate investment trust Covivio, Canada’s Ivanhoé Cambridge and, in a personal capacity, Struan Robertson, chairman of EMEA real estate, gaming and lodging at Bank of America Merrill Lynch.
The French Association for the Development of Low Carbon Buildings (BBCA) will provide technical support for the initiative and has set up a scientific commission to develop a methodology for the new low-carbon label by summer 2022. Offices, residential buildings and hotels will be targeted initially and the first buildings will gain certification by the end of this year.
Stanislas Pottier, senior advisor to Amundi’s General Management and president of the BBCA said: “If we want to reach net zero by 2050, we have to get it right carbon wise in the coming 15 years and to do that, we have to change practices in the next two to three years. That means shaping a real CO2 accountancy and analysis framework for buildings, cities and portfolios. BBCA is glad to support this European Low Carbon Building initiative, contributing its technical expertise acquired over the last 6 years.”
Stéphane Villemain, vice president, CSR at Ivanhoe Cambridge, stated: “We are proud to support this European initiative which represents a major step towards the decarbonization of the real estate sector. Greater account needs to be taken of the emission levels of buildings throughout their life cycle, including when they are actually being built. This initiative represents a real opportunity to extend low carbon practices in our sector and to favourably position our portfolio over the long term.”