Emissions in the real estate sector are falling but not fast enough

Daniel Piazolo

ERES from European Real Estate Society (ERES)

Abstract: Greenhouse gas emissions in the EU have fallen by around 31 per cent by 2022 compared to 1990 levels – covering all relevant sectors like the real estate industry but also including international aviation. The rate of reduction has increased recently, but it is still not enough to achieve the EU targets. According to the EU commission, emissions will probably fall by around 51 per cent by 2030 - which is below the target set out by the “Green Deal” of 55 per cent. The European Environment Agency (EEA) is also cautious. In December 2023, the EEA stated that reaching this target was uncertain".Many actors in the real estate sector have committed themselves to ambitious goals of achieving considerable greenhouse gas emissions reductions or even climate neutrality. Greenhouse gas emissions should therefore fall as far as possible with the remaining emissions in areas such as cement production being offset thanks to forests and other landscape sinks as well as technical solutions. However, it becomes increasingly clear to the participants in the real estate sector, that these greenhouse gas emissions reductions are very costly. Emissions in the real estate sector are falling but not fast enough. Ever since the EU adopted its climate target for the year 2030, it has been clear that the international community's climate policy ambitions especially including the real estate sector will not be achieved unless more carbon dioxide is removed from the atmosphere.

Keywords: Buildings; Climate Change; Emissions Reductions (search for similar items in EconPapers)
JEL-codes: R3 (search for similar items in EconPapers)
Date: 2024-01-01
New Economics Papers: this item is included in nep-ene and nep-env
References: Add references at CitEc
Citations:

Downloads: (external link)
https://eres.architexturez.net/doc/oai-eres-id-eres2024-066 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:arz:wpaper:eres2024-066

Access Statistics for this paper

More papers in ERES from European Real Estate Society (ERES) Contact information at EDIRC.
Bibliographic data for series maintained by Architexturez Imprints ().