Rethinking the Built Environment
We live in a rapidly urbanising world. By 2050, two-thirds of the global population will live in cities (UN, 2018). Coupled with environmental urgency and a digital norm, huge challenges and opportunities exist in the built environment.
The built environment includes all of the physical parts of where we live and work (e.g., homes, buildings, streets, open spaces, and infrastructure).
Sustainability in the built environment is top of mind and pressure is increasing from key stakeholders:
- Regulators are increasing transparency of climate-related risks by imposing greater reporting and disclosure requirements
- Industry bodies are in alignment with wider policy e.g. 34 of the UK’s leading commercial property owners have signed a commitment to deliver net zero carbon real estate portfolios by 2050
- Investors do not view sustainability as a periphery activity and sustainable funds have shown resilience in market downturns
- Residents have an increased focus on health as Covid-19 unfolds e.g. seeking improved indoor environments (air quality, temperature, moisture levels)
Net zero carbon defined by the UK Green Building Council:
Construction: “When the amount of carbon emissions associated with a building’s product and construction stages up to practical completion is zero or negative, through the use of offsets or the net export of on-site renewable energy.”
Operational: “When the amount of carbon emissions associated with the building’s operational energy on an annual basis is zero or negative. A net zero carbon building is highly energy efficient and powered from on-site and/or off-site renewable energy sources, with any remaining carbon balance offset.”
Today, over half the world’s population lives in cities. They are responsible for 70% of global energy consumption and greenhouse gas emissions. Poor planning and layout contribute to the huge carbon footprint of cities. However, buildings themselves represent a major source of untapped potential for huge gains in efficiency and reducing harmful gases. New ways of thinking and working are long overdue.
Innovative startups such as Physee are making buildings smart, healthy and sustainable. Physee has developed smart windows that are digital, generate data and convert light into electricity. The energy is used to operate building systems such as air ventilation and can be fed back into the grid to generate revenue for the owner.
Given the strong impetus towards sustainability, I believe innovators and entrepreneurs building solutions in this space will transform the industry and ultimately result in fundamentally better ways of doing things.
