COMMENT: COP26 was always going to be a tough gig. Billed as the most important climate change summit since Paris yet set in the context of a global pandemic and challenging inter-governmental relationships, exacerbated by lack of access to vaccinations in developing countries, plus of course Brexit.
With increasing awareness of the urgent action needed to address the climate emergency, the requirement for leaders to be seen and heard stepping up to the plate was never more important. The outcome, now well documented, can either be seen as a step forward (albeit a small step) or a crashing disappointment.
Genuine will
In Glasgow, the big step forward seemed to be the level of private sector involvement. Yes, fossil fuel lobbying was still in full swing, but the collective will from the private sector to move the needle appeared genuine. This for me was demonstrated during Finance Day with the Glasgow Financial Alliance for Net-Zero representing more than $130trn in assets under management. The creation of an International Sustainability Standards Board, UK legislation on climate risk reporting, and the publication of net zero transition plans within high-emitting sectors amplified action from the private sector.
Similarly, on deforestation 12 countries announced commitments to collectively provide $12bn for forest-related climate finance between 2021 and 2025 to support efforts to halt and reverse forest loss and land degradation by 2030. Major financial institutions with more than $8.7tn in assets under management committed to tackle agricultural commodity-driven deforestation as part of broader efforts to drive the global shift towards sustainable production and nature-based solutions. These significant contributions were reinforced by businesses such as Sainsbury’s, Tesco, Waitrose, M&S and Co-operative signing a commitment to halve the nature and climate impacts of food systems by 2030. Encouraging progress, as when the private sector leads, governments often follow.
As far as the real estate sector is concerned, talented and dedicated people absolutely committed to driving change were very much in evidence, both in Glasgow and virtually. Announcements such as green financing from Derwent London and Grosvenor Group, Argent announcing Kings Cross as carbon neutral, and the incredible work from the UKGBC on the sectoral whole life carbon roadmap, all demonstrate the collective desire to up the pace. Yet, there was something missing. The sector fought hard for Cities and Built Environment Day to be included on the COP agenda, but still struggled to gain the government focus that it needed to respond effectively to the climate crisis – there were no real ‘game-changers’ that were clearly focused on our sector in terms of policy, finance, occupier demand and the skills gap. Furthermore, the recognition of the need to address social impact and support a just transition were very much poor relations alongside the rich discussions concerning the environmental impacts of the sector. No real systems thinking is happening here, yet.
Report cards
We already have a fine example of what happens when we lead as a sector. This has been exemplified by the Better Buildings Partnership Climate Commitment with its signatories already publishing their net-zero carbon pathways and delivery plans ahead of Rishi Sunak’s announcement that the government will be ‘moving towards making it mandatory for firms to publish a clear, deliverable plan setting out how they will decarbonise and transition to net-zero’. The Design for Performance (NABERS UK) initiative, pioneered by large UK developers, has also had a major impact – direct action from the industry resulting in government consultation on the mandatory in-use performance disclosure for commercial buildings. We await the outcome with interest.
Post-COP then, the industry needs to consider what its report card should say at this point – possibly talk less, focus more? It should certainly use its already excellent collaboration and engagement skills (BBP and UKGBC are fantastic examples) to greater effect, to increase the rate of progress and deliver the change needed to become a net-zero carbon industry by 2030.
The lasting impact of COP26 for our sector should not be soul-searching on why coal is being phased down rather than phased out, but instead a renewed collective drive for government, NGOs, the private sector, and individuals to up the pace together, focusing on delivering a sustainable built environment in an equitable way.
Janine Cole is sustainability and social impact director at GPE
