Technology & Data

Green Building Councils Form Alliance

A new partnership between the UK-based Building Research Establishment (BRE), the Green Building Council of Australia (GBCA) and the US Green Building Council (USGBC) has been formed to increase sustainable finance flows to the built environment. The alliance will work together to provide investors, property owners, developers and governments with the information needed to enact transformational change in the sector, aiming to support global climate objectives. This will include raising awareness around their respective green building rating systems – the Building Research Establishment Environmental Assessment Method (BREEAM), Green Star and the Leadership in Energy and Environmental Design (LEED) – across the real estate and finance sectors. The three rating systems collectively help hundreds of thousands of buildings and projects globally in their drive towards net zero and ESG goals. “This global alliance shows that the world’s major sustainability rating systems are aligned – not just on climate science, but on how we can ensure that all buildings are able to transition to a decarbonised future,” said Davina Rooney, CEO of the GBCA. “As we move through a global sustainable finance revolution, together, we have the potential to unlock significant benefits for buildings, the environment and for people.” This alliance comes against the backdrop of last year’s UN Global Stocktake report, which found that the international community is not on track to reach the goals of the Paris Agreement. Among the first milestones for the alliance will be the publication of a practical guide during the London Climate Action Week in June, which will explore the sustainable finance instruments available to the real estate market, including green loans and green bonds.  

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