Modern Building Services

26 MODERN BUILDING SERVICES DECEMBER 2022/JANUARY 2023 FEATURE NET ZERO Vidal Bharath , Chief Commercial Officer at Bramble Energy, says much of the ability of the UK to successfully meet its 2050 Net Zero target will hinge on the success of the construction sector’s decarbonisation strategy. T he building industry is responsible 1 for around 11.4 million metric tonnes of carbon dioxide emissions every year, with the built environment more widely estimated 2 to account for a quarter of the UK’s entire carbon footprint (42% if you include surface transport and vehicle emissions). It is therefore no secret that the complex and multi-faceted construction sector has a significant role to play in minimising emissions and building towards Net Zero. New techniques, technologies and processes, including innovative ways of tracking data, developing greener technologies, and greater collaboration with partners up and down the construction value chain, offer a route towards hitting those all-important sustainable milestones. Creating economic and societal growth It is worth noting that this is not just about cutting emissions in order to limit the impact of climate change. Indeed, as the construction industry continues to chip away at these targets, another advantageous by- product emerges in the form of potentially monumental economic and societal growth for countries, cities and companies. The building sector has the potential to be the force that keeps the Net Zero agenda pushing ahead, at the same time spurring on the UK economy and enhancing the development and integration of greener technologies and processes into the wider economy and society. For consumers, especially those living in Net Zero carbon homes, several key benefits can be drawn from this progress, including reduced emissions and increased resilience to climate change, reduced utility bills, and improvements to comfort and wellbeing. Meanwhile, similar advantages can be obtained by businesses regarding their workplaces and employees. From a financial perspective, capital markets are shifting toward ESG. This means businesses that are bold stand to benefit from a greater supply of cheaper capital to drive their sustainability investments. According to McKinsey 3 , this could be a major driver of demand for ESG friendly buildings, as well as heightened awareness among consumers about the emissions generated by their homes and places of work, and other lifestyle choices such as eating and travel habits. Furthermore, in the UK, social value has become a particular priority for construction companies to remain competitive in the investment landscape – Government contracts worth more than £5 million, for example, can only be awarded to firms with a formalised social value policy in place. The race to Net Zero: How the industry can maintain momentum