A multidisciplinary approach to decarbonisation pathways for commercial stranded assets in the UK

Abigail Beaney, Aleksandra Przydrozna, Rachel O’Donnell and Omar Addis-Elyassir
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Abigail Beaney: Mace, UK
Aleksandra Przydrozna: Associate Director, Net Zero Carbon Team, Mace Consult, UK
Rachel O’Donnell: Operations Director, Mace Consult, UK
Omar Addis-Elyassir: Design Management Assistant Manager, Net Zero Carbon Team, Mace Consult, UK

Corporate Real Estate Journal, 2023, vol. 12, issue 4, 351-364

Abstract: To meet 2050 net zero targets, 65 per cent of existing commercial buildings will need to be electrified by 2030. Legislation and performance targets at present remain conflicting with no one clear path being promoted. The paper uses an ‘in-flight’ example project to considers how retrofit projects could be approached from the outset, reflecting on contractual models, performance targets, societal and sustainability challenges around adapting our existing building stock. The purpose of the paper is to assist investors, insurers, owners, occupiers and advisers in understanding the potential decarbonisation pathways for their assets and to clarify how a project should be approached to benefit the asset and environment in the short and long term. Interdependencies are discussed to highlight the multidisciplinary nature of retrofit and how a holistic and direct approach from the outset is likely to achieve best outcomes where the building’s envelope, heating and ventilation are designed to work in tandem with each other.

Keywords: retrofit; decarbonisation; stranded assets; commercial assets; CRREM; LETI (search for similar items in EconPapers)
JEL-codes: R3 (search for similar items in EconPapers)
Date: 2023
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