The UK’s commercial real estate stock has the worst-performing carbon emission rate across Europe’s six biggest economies, according to research published by ESG data platform Deepki.
According to Deepki’s annual ESG Index, the UK’s CRE assets consume more energy per square metre on average than buildings in Germany, France, Italy, Spain and the Benelux countries.
However, the data reveals the UK has reduced emission rates over the past two years across all sectors except hotels.
The biggest improvements have come in the UK’s logistics sector, where emissions now stand at 23.7kg of CO2 per sq m, a 27% reduction on the figures from 2022, when Deepki first collated the data.
Offices stand at 42.4 kgCO2eq/m2, which is down by 4% on two years ago, while retail is down by 8% at 45.8 kgCO2eq/m2.
Hotels are up by 11% at 56.6 kgCO2eq/m2, something the report’s authors put down to a post-Covid occupancy boost.
The report found French building stock to be among Europe’s lowest emitters of CO2 due to its national grid being largely dependent on nuclear energy. It also found Spain to be a model for other EU countries thanks to its implementation of renewable energy.
Deepki’s research was based on a sample of more than 400,000 assets across the six countries.
Deepki chief executive and founder Vincent Bryant said: “The energy improvements we have observed over the past three years will not be sustainable without comprehensive renovation strategies and shifts in energy use habits.
“There is a critical need for substantial investments in energy efficiency, and achieving net zero will depend on ongoing commitment and strategic actions across the European real estate sector.”
Photo © Eric Prouzet/Unsplash
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