WorldGBC and BEA Join Forces to Double the Rate of Energy Efficiency in Buildings

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WorldGBC and BEA Join Forces to Double the Rate of Energy Efficiency in Buildings

by Anastasiya Kostomarova
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.@WorldGBC + @WorldResources' BEA Join Forces to Double Rate of #EnergyEfficiency in Buildings http://bit.ly/2bcQid9 @CBRE @CBREgreen

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Wednesday, August 24, 2016 - 9:45am

CAMPAIGN: CBRE Environmental Sustainability

CONTENT: Blog

The World Green Building Council (WorldGBC) and the World Resources Institute (WRI)-led Building Efficiency Accelerator (BEA) – a public-private partnership launched under the United Nations Secretary-General’s SE4All Initiative – have joined forces in an attempt to double the rate of energy efficiency improvements by 2030.

Under the newly formed partnership, the WorldGBC and respective Green Building Councils (GBCs) of Colombia, the United Arab Emirates, Poland, and South Africa will work with the mayors and municipal governments of Bogota, Dubai, Warsaw, and Tshwane to advance energy efficiency in buildings.

This partnership is timely and important. With the October 2016 Habitat 3 Conference in Quito on the horizon, the role of collaborative efforts is pivotal as cities seek opportunities to position themselves as pioneers of urban innovation, and leaders in urban sustainability. And it is critical they do just that; occupying only 3% of the land cover, cities account for roughly 70% of global energy consumption and GHG emissions.

Given the unprecedented pace of urbanization, with cities adding 180,000 new inhabitants per day – the equivalent of creating a new London or a new San Francisco each month! – there is little doubt that the fight against climate change will likely be won or lost in cities.

To reduce their carbon footprint cost-effectively, cities need to double down on their efforts to slash energy use, especially in the built environment; which alone accounts for nearly 40% of global energy consumption, substantially more than transportation. The potential for improvement is vast. According to World Business Council for Sustainable Development (WBCSD), building efficiency measures in both new and existing buildings can yield energy savings of up to 60% by mid-century.

It is well-known that the ambitions laid out in this partnership is supported by attractive economics – every $1 invested in efficiency measures saves $2 that would otherwise be spent on new power capacity and distribution. This should make energy efficiency a no brainer, yet when it comes to “the fifth fuel” – as energy efficiency is often called – progress has often fallen short, with cities facing substantial barriers associated with supply chain fragmentation, poorly aligned incentives, and lack of know-how.

Experts believe that multi-stakeholder partnerships – which bring together businesses, NGOs, and local governments – may be instrumental in tackling some of these challenges. Backed by the WorldGBC and BEA, local GBCs will enable participating cities to gain access to resources, capacity, and technical expertise, and further assist local government in identifying opportunities for strengthening incentives and generating stakeholder buy-in to energy efficiency investment.

Keywords: Green Infrastructure | Building Efficiency Accelerator (BEA) | CBRE | Energy | Environment | Responsible Production & Consumption | Sustainable Finance & Socially Responsible Investment | World Green Building Council (WorldGBC) | World Resources Institute (WRI) | the green perspective

CAMPAIGN: CBRE Environmental Sustainability

CONTENT: Blog