Posted by Alumni from WEF
September 20, 2024
The built environment consists of buildings and infrastructure that touch all aspects of human life'from our houses and apartments to the commercial and industrial spaces where we work, shop, and socialize. This ecosystem accounts for around 26% of global greenhouse gas (GHG) emissions. Energy-efficiency retrofitting ' also called upgrading or renovating ' can reduce these GHG emissions and enhance climate resilience to mitigate the impact of extreme weather events on these structures. It involves upgrading existing assets to improve operational energy efficiency, extend useful life, reduce embodied carbon emissions and ensure regulatory compliance. Unsurprisingly, then, the energy-efficiency retrofit market is expected to grow by 8% year over year between 2024 and 2050, increasing from a $500 billion to a $3.9 trillion market, according to an analysis by McKinsey*. This analysis includes heating, ventilation, and cooling systems, external envelopes (roofing, insulation, windows,... learn more