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The first Low Carbon Real Estate Show (SIBCA ‒ Salon de l'Immobilier Bas Carbone), held at the Palais Éphémère in Paris from September 22 to 24, 2022, was the meeting place for real estate professionals who are designing, building and renovating the major urban projects and buildings of tomorrow in a changing ecosystem.
There is no doubt that energy performance and carbon footprints are becoming priorities and obligations for all stakeholders in the real estate sector. The building industry alone accounts for 40 percent of the world's energy consumption and is responsible, after the transport sector, for the highest greenhouse gas emissions. France aims to achieve carbon neutrality by 2050.
This is not a new challenge. Ten years ago, institutional investors started considering the environmental impact of their real estate properties. This environmental awareness has increased over the last three years, driven by several French laws aimed at improving businesses’ ESG impact. Each actor involved in the real estate industry now assumes its share of responsibility and is paying close attention to the environmental measures implemented by their counterparties to reach carbon neutrality.
- France aims to achieve carbon neutrality by 2050.
- Lenders help by imposing green mandates on the building industry.
- Owners will need significant amounts of capital expenditure to renovate existing hotels.