News

Publication date: 6 October 2017

In developing countries and transition economies, rising populations and increased purchasing power are expected to drive considerable growth in construction and real estate. As building investments grow, energy consumption and CO2 emissions will also rise: buildings currently account for over a quarter of global CO2 emissions and more than a third of the world’s energy consumption. With the global building area likely to double by 2050, energy consumption in buildings is expected to increase by 50 per cent. To keep international climate goals on track, substantial and advanced green building investments are needed in the  European Bank for Reconstruction and Development (EBRD)’s countries of operations, along with significant changes to building policies, standards and technologies.

Although many new buildings in the EBRD’s countries of operations are three to four times as energy efficient as existing ones, a high proportion of existing buildings will still be standing in 2050. To reach minimum targets defined in the Paris Agreement, rates of basic green renovations of existing buildings in these countries must reach 6 to 8 per cent by 2040 (to exceed these standards and achieve nearly zero carbon performance, rates of advanced, deep renovations would need to reach 1.5 per cent by 2025 and 2 per cent by 2040).

Combining a decade of green finance experience with technical assistance and policy dialogue, the EBRD’s Green Economy Transition (GET) approach aims to turn green building challenges into solid investment opportunities with clear economic, environmental and social benefits.

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