Your expert for questions
Partner, Sustainability Services at PwC Germany
Tel: +49 40 6378-2505
The consequences of climate change are hitting the real estate sector particularly hard. The reason: buildings are responsible for around 35 percent of global CO2 emissions. In order to achieve the goals of the Paris Climate Agreement for limiting global warming to less than 2 degrees, around 75 percent of existing properties in the European Union alone would have to be renovated to make them more energy-efficient. The current renovation rate of around one percent would have to be drastically increased accordingly.
Regulatory initiatives such as the Renovation Wave or the Sustainable Finance Taxonomy of the European Commission, as well as market-driven recommendations such as the Principles for Responsible Investment (PRI), are putting high pressure on companies to minimize their (financial) risks and secure their future viability and competitive position.
According to the EU Commission, this transformation will require an annual investment of 275 billion euros in the energy refurbishment of buildings by 2030. These investments have a massive impact on the value and performance of real estate portfolios, but also offer great opportunities in a changing market.
Climate Excellence analyzes the impact of climate change on your real estate portfolio for you. The tool enables you to translate the financial implications of different climate scenarios into risk and opportunity management and understand their material drivers.
Senior Manager Valuation, Modeling & Analytics Real Estate, PwC Germany
Tel: +49 69 9585-6505