Measuring the alignment of real economy investments with climate mitigation objectives: The United Kingdom's buildings sector
This paper explores data and methods to assess the alignment or misalignment with climate mitigation objectives of investments in the construction and refurbishment of residential and non-residential buildings. It takes the United Kingdom (UK) as a case study, where such investments reached GBP 162...
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Weitere Verfasser: | |
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
2021
|
| Schriftenreihe: | OECD Environment Working Papers
no.172 |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | This paper explores data and methods to assess the alignment or misalignment with climate mitigation objectives of investments in the construction and refurbishment of residential and non-residential buildings. It takes the United Kingdom (UK) as a case study, where such investments reached GBP 162 billion (EUR 184 billion) in 2019 or 39% of UK gross fixed capital formation. The analysis trials different reference points that lead to varying results and each currently come with limitations in terms of coverage or granularity. Sector-level greenhouse gas (GHG) trajectories indicate that, in aggregate, investments in UK buildings have been insufficient, delayed or not aligned enough with caps set by UK Carbon Budgets, but such trajectories currently lack disaggregation for a more granular and insightful matching with investment data. Energy performance certificates (EPCs) allow for asset-level analyses: for instance, 79% of 2010-2019 investments in new built residential were in relatively energy efficient buildings but only 1% were consistent with more demanding recommendations towards the UK's objective of reaching net-zero GHG in 2050. The coverage and reliability of EPCs, however, needs to be improved for older buildings, whose deep retrofitting is a major financing challenge. Applying Climate Bonds Initiative criteria for low-carbon buildings identifies investments eligible for green bond financing, but such criteria have partial sectoral coverage and are based on currently most efficient buildings within the existing stock, which makes them relatively easy to meet for investments in new built. Producing more complete and policy relevant assessments of aligned and misaligned investments at national and sectoral levels requires the availability of and access to comparable and granular data on decarbonisation targets and pathways consistent with the Paris Agreement temperature goals, GHG performance of assets, corporate and household investments, as well as underlying sources of financing. |
| Beschreibung: | 1 Online-Ressource (71 p.) |
| DOI: | 10.1787/8eccb72a-en |
Internformat
MARC
| LEADER | 00000cam a22000002 4500 | ||
|---|---|---|---|
| 001 | ZDB-13-SOC-06828490X | ||
| 003 | DE-627-1 | ||
| 005 | 20231204121531.0 | ||
| 007 | cr uuu---uuuuu | ||
| 008 | 210915s2021 xx |||||o 00| ||eng c | ||
| 024 | 7 | |a 10.1787/8eccb72a-en |2 doi | |
| 035 | |a (DE-627-1)06828490X | ||
| 035 | |a (DE-599)KEP06828490X | ||
| 035 | |a (FR-PaOEC)8eccb72a-en | ||
| 035 | |a (EBP)06828490X | ||
| 040 | |a DE-627 |b ger |c DE-627 |e rda | ||
| 041 | |a eng | ||
| 084 | |a G31 |2 jelc | ||
| 084 | |a G32 |2 jelc | ||
| 084 | |a R33 |2 jelc | ||
| 084 | |a R31 |2 jelc | ||
| 084 | |a E01 |2 jelc | ||
| 084 | |a E22 |2 jelc | ||
| 084 | |a H54 |2 jelc | ||
| 084 | |a Q56 |2 jelc | ||
| 084 | |a Q54 |2 jelc | ||
| 100 | 1 | |a Jachnik, Raphaël |e VerfasserIn |4 aut | |
| 245 | 1 | 0 | |a Measuring the alignment of real economy investments with climate mitigation objectives |b The United Kingdom's buildings sector |c Raphaël, Jachnik and Alexander, Dobrinevski |
| 264 | 1 | |a Paris |b OECD Publishing |c 2021 | |
| 300 | |a 1 Online-Ressource (71 p.) | ||
| 336 | |a Text |b txt |2 rdacontent | ||
| 337 | |a Computermedien |b c |2 rdamedia | ||
| 338 | |a Online-Ressource |b cr |2 rdacarrier | ||
| 490 | 0 | |a OECD Environment Working Papers |v no.172 | |
| 520 | |a This paper explores data and methods to assess the alignment or misalignment with climate mitigation objectives of investments in the construction and refurbishment of residential and non-residential buildings. It takes the United Kingdom (UK) as a case study, where such investments reached GBP 162 billion (EUR 184 billion) in 2019 or 39% of UK gross fixed capital formation. The analysis trials different reference points that lead to varying results and each currently come with limitations in terms of coverage or granularity. Sector-level greenhouse gas (GHG) trajectories indicate that, in aggregate, investments in UK buildings have been insufficient, delayed or not aligned enough with caps set by UK Carbon Budgets, but such trajectories currently lack disaggregation for a more granular and insightful matching with investment data. Energy performance certificates (EPCs) allow for asset-level analyses: for instance, 79% of 2010-2019 investments in new built residential were in relatively energy efficient buildings but only 1% were consistent with more demanding recommendations towards the UK's objective of reaching net-zero GHG in 2050. The coverage and reliability of EPCs, however, needs to be improved for older buildings, whose deep retrofitting is a major financing challenge. Applying Climate Bonds Initiative criteria for low-carbon buildings identifies investments eligible for green bond financing, but such criteria have partial sectoral coverage and are based on currently most efficient buildings within the existing stock, which makes them relatively easy to meet for investments in new built. Producing more complete and policy relevant assessments of aligned and misaligned investments at national and sectoral levels requires the availability of and access to comparable and granular data on decarbonisation targets and pathways consistent with the Paris Agreement temperature goals, GHG performance of assets, corporate and household investments, as well as underlying sources of financing. | ||
| 650 | 4 | |a Environment | |
| 650 | 4 | |a Finance and Investment | |
| 650 | 4 | |a United Kingdom | |
| 700 | 1 | |a Dobrinevski, Alexander |e MitwirkendeR |4 ctb | |
| 856 | 4 | 0 | |l FWS01 |p ZDB-13-SOC |q FWS_PDA_SOC |u https://doi.org/10.1787/8eccb72a-en |3 Volltext |
| 912 | |a ZDB-13-SOC | ||
| 912 | |a ZDB-13-SOC | ||
| 951 | |a BO | ||
| 912 | |a ZDB-13-SOC | ||
| 049 | |a DE-863 | ||
Datensatz im Suchindex
| DE-BY-FWS_katkey | ZDB-13-SOC-06828490X |
|---|---|
| _version_ | 1804748638818140160 |
| adam_text | |
| any_adam_object | |
| author | Jachnik, Raphaël |
| author2 | Dobrinevski, Alexander |
| author2_role | ctb |
| author2_variant | a d ad |
| author_facet | Jachnik, Raphaël Dobrinevski, Alexander |
| author_role | aut |
| author_sort | Jachnik, Raphaël |
| author_variant | r j rj |
| building | Verbundindex |
| bvnumber | localFWS |
| collection | ZDB-13-SOC |
| ctrlnum | (DE-627-1)06828490X (DE-599)KEP06828490X (FR-PaOEC)8eccb72a-en (EBP)06828490X |
| discipline | Wirtschaftswissenschaften |
| doi_str_mv | 10.1787/8eccb72a-en |
| format | Electronic eBook |
| fullrecord | <?xml version="1.0" encoding="UTF-8"?><collection xmlns="http://www.loc.gov/MARC21/slim"><record><leader>03495cam a22004812 4500</leader><controlfield tag="001">ZDB-13-SOC-06828490X</controlfield><controlfield tag="003">DE-627-1</controlfield><controlfield tag="005">20231204121531.0</controlfield><controlfield tag="007">cr uuu---uuuuu</controlfield><controlfield tag="008">210915s2021 xx |||||o 00| ||eng c</controlfield><datafield tag="024" ind1="7" ind2=" "><subfield code="a">10.1787/8eccb72a-en</subfield><subfield code="2">doi</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(DE-627-1)06828490X</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(DE-599)KEP06828490X</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(FR-PaOEC)8eccb72a-en</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(EBP)06828490X</subfield></datafield><datafield tag="040" ind1=" " ind2=" "><subfield code="a">DE-627</subfield><subfield code="b">ger</subfield><subfield code="c">DE-627</subfield><subfield code="e">rda</subfield></datafield><datafield tag="041" ind1=" " ind2=" "><subfield code="a">eng</subfield></datafield><datafield tag="084" ind1=" " ind2=" "><subfield code="a">G31</subfield><subfield code="2">jelc</subfield></datafield><datafield tag="084" ind1=" " ind2=" "><subfield code="a">G32</subfield><subfield code="2">jelc</subfield></datafield><datafield tag="084" ind1=" " ind2=" "><subfield code="a">R33</subfield><subfield code="2">jelc</subfield></datafield><datafield tag="084" ind1=" " ind2=" "><subfield code="a">R31</subfield><subfield code="2">jelc</subfield></datafield><datafield tag="084" ind1=" " ind2=" "><subfield code="a">E01</subfield><subfield code="2">jelc</subfield></datafield><datafield tag="084" ind1=" " ind2=" "><subfield code="a">E22</subfield><subfield code="2">jelc</subfield></datafield><datafield tag="084" ind1=" " ind2=" "><subfield code="a">H54</subfield><subfield code="2">jelc</subfield></datafield><datafield tag="084" ind1=" " ind2=" "><subfield code="a">Q56</subfield><subfield code="2">jelc</subfield></datafield><datafield tag="084" ind1=" " ind2=" "><subfield code="a">Q54</subfield><subfield code="2">jelc</subfield></datafield><datafield tag="100" ind1="1" ind2=" "><subfield code="a">Jachnik, Raphaël</subfield><subfield code="e">VerfasserIn</subfield><subfield code="4">aut</subfield></datafield><datafield tag="245" ind1="1" ind2="0"><subfield code="a">Measuring the alignment of real economy investments with climate mitigation objectives</subfield><subfield code="b">The United Kingdom's buildings sector</subfield><subfield code="c">Raphaël, Jachnik and Alexander, Dobrinevski</subfield></datafield><datafield tag="264" ind1=" " ind2="1"><subfield code="a">Paris</subfield><subfield code="b">OECD Publishing</subfield><subfield code="c">2021</subfield></datafield><datafield tag="300" ind1=" " ind2=" "><subfield code="a">1 Online-Ressource (71 p.)</subfield></datafield><datafield tag="336" ind1=" " ind2=" "><subfield code="a">Text</subfield><subfield code="b">txt</subfield><subfield code="2">rdacontent</subfield></datafield><datafield tag="337" ind1=" " ind2=" "><subfield code="a">Computermedien</subfield><subfield code="b">c</subfield><subfield code="2">rdamedia</subfield></datafield><datafield tag="338" ind1=" " ind2=" "><subfield code="a">Online-Ressource</subfield><subfield code="b">cr</subfield><subfield code="2">rdacarrier</subfield></datafield><datafield tag="490" ind1="0" ind2=" "><subfield code="a">OECD Environment Working Papers</subfield><subfield code="v">no.172</subfield></datafield><datafield tag="520" ind1=" " ind2=" "><subfield code="a">This paper explores data and methods to assess the alignment or misalignment with climate mitigation objectives of investments in the construction and refurbishment of residential and non-residential buildings. It takes the United Kingdom (UK) as a case study, where such investments reached GBP 162 billion (EUR 184 billion) in 2019 or 39% of UK gross fixed capital formation. The analysis trials different reference points that lead to varying results and each currently come with limitations in terms of coverage or granularity. Sector-level greenhouse gas (GHG) trajectories indicate that, in aggregate, investments in UK buildings have been insufficient, delayed or not aligned enough with caps set by UK Carbon Budgets, but such trajectories currently lack disaggregation for a more granular and insightful matching with investment data. Energy performance certificates (EPCs) allow for asset-level analyses: for instance, 79% of 2010-2019 investments in new built residential were in relatively energy efficient buildings but only 1% were consistent with more demanding recommendations towards the UK's objective of reaching net-zero GHG in 2050. The coverage and reliability of EPCs, however, needs to be improved for older buildings, whose deep retrofitting is a major financing challenge. Applying Climate Bonds Initiative criteria for low-carbon buildings identifies investments eligible for green bond financing, but such criteria have partial sectoral coverage and are based on currently most efficient buildings within the existing stock, which makes them relatively easy to meet for investments in new built. Producing more complete and policy relevant assessments of aligned and misaligned investments at national and sectoral levels requires the availability of and access to comparable and granular data on decarbonisation targets and pathways consistent with the Paris Agreement temperature goals, GHG performance of assets, corporate and household investments, as well as underlying sources of financing.</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Environment</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Finance and Investment</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">United Kingdom</subfield></datafield><datafield tag="700" ind1="1" ind2=" "><subfield code="a">Dobrinevski, Alexander</subfield><subfield code="e">MitwirkendeR</subfield><subfield code="4">ctb</subfield></datafield><datafield tag="856" ind1="4" ind2="0"><subfield code="l">FWS01</subfield><subfield code="p">ZDB-13-SOC</subfield><subfield code="q">FWS_PDA_SOC</subfield><subfield code="u">https://doi.org/10.1787/8eccb72a-en</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">ZDB-13-SOC</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">ZDB-13-SOC</subfield></datafield><datafield tag="951" ind1=" " ind2=" "><subfield code="a">BO</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">ZDB-13-SOC</subfield></datafield><datafield tag="049" ind1=" " ind2=" "><subfield code="a">DE-863</subfield></datafield></record></collection> |
| id | ZDB-13-SOC-06828490X |
| illustrated | Not Illustrated |
| indexdate | 2024-07-16T15:07:04Z |
| institution | BVB |
| language | English |
| open_access_boolean | |
| owner | DE-863 DE-BY-FWS |
| owner_facet | DE-863 DE-BY-FWS |
| physical | 1 Online-Ressource (71 p.) |
| psigel | ZDB-13-SOC |
| publishDate | 2021 |
| publishDateSearch | 2021 |
| publishDateSort | 2021 |
| publisher | OECD Publishing |
| record_format | marc |
| series2 | OECD Environment Working Papers |
| spelling | Jachnik, Raphaël VerfasserIn aut Measuring the alignment of real economy investments with climate mitigation objectives The United Kingdom's buildings sector Raphaël, Jachnik and Alexander, Dobrinevski Paris OECD Publishing 2021 1 Online-Ressource (71 p.) Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier OECD Environment Working Papers no.172 This paper explores data and methods to assess the alignment or misalignment with climate mitigation objectives of investments in the construction and refurbishment of residential and non-residential buildings. It takes the United Kingdom (UK) as a case study, where such investments reached GBP 162 billion (EUR 184 billion) in 2019 or 39% of UK gross fixed capital formation. The analysis trials different reference points that lead to varying results and each currently come with limitations in terms of coverage or granularity. Sector-level greenhouse gas (GHG) trajectories indicate that, in aggregate, investments in UK buildings have been insufficient, delayed or not aligned enough with caps set by UK Carbon Budgets, but such trajectories currently lack disaggregation for a more granular and insightful matching with investment data. Energy performance certificates (EPCs) allow for asset-level analyses: for instance, 79% of 2010-2019 investments in new built residential were in relatively energy efficient buildings but only 1% were consistent with more demanding recommendations towards the UK's objective of reaching net-zero GHG in 2050. The coverage and reliability of EPCs, however, needs to be improved for older buildings, whose deep retrofitting is a major financing challenge. Applying Climate Bonds Initiative criteria for low-carbon buildings identifies investments eligible for green bond financing, but such criteria have partial sectoral coverage and are based on currently most efficient buildings within the existing stock, which makes them relatively easy to meet for investments in new built. Producing more complete and policy relevant assessments of aligned and misaligned investments at national and sectoral levels requires the availability of and access to comparable and granular data on decarbonisation targets and pathways consistent with the Paris Agreement temperature goals, GHG performance of assets, corporate and household investments, as well as underlying sources of financing. Environment Finance and Investment United Kingdom Dobrinevski, Alexander MitwirkendeR ctb FWS01 ZDB-13-SOC FWS_PDA_SOC https://doi.org/10.1787/8eccb72a-en Volltext |
| spellingShingle | Jachnik, Raphaël Measuring the alignment of real economy investments with climate mitigation objectives The United Kingdom's buildings sector Environment Finance and Investment United Kingdom |
| title | Measuring the alignment of real economy investments with climate mitigation objectives The United Kingdom's buildings sector |
| title_auth | Measuring the alignment of real economy investments with climate mitigation objectives The United Kingdom's buildings sector |
| title_exact_search | Measuring the alignment of real economy investments with climate mitigation objectives The United Kingdom's buildings sector |
| title_full | Measuring the alignment of real economy investments with climate mitigation objectives The United Kingdom's buildings sector Raphaël, Jachnik and Alexander, Dobrinevski |
| title_fullStr | Measuring the alignment of real economy investments with climate mitigation objectives The United Kingdom's buildings sector Raphaël, Jachnik and Alexander, Dobrinevski |
| title_full_unstemmed | Measuring the alignment of real economy investments with climate mitigation objectives The United Kingdom's buildings sector Raphaël, Jachnik and Alexander, Dobrinevski |
| title_short | Measuring the alignment of real economy investments with climate mitigation objectives |
| title_sort | measuring the alignment of real economy investments with climate mitigation objectives the united kingdom s buildings sector |
| title_sub | The United Kingdom's buildings sector |
| topic | Environment Finance and Investment United Kingdom |
| topic_facet | Environment Finance and Investment United Kingdom |
| url | https://doi.org/10.1787/8eccb72a-en |
| work_keys_str_mv | AT jachnikraphael measuringthealignmentofrealeconomyinvestmentswithclimatemitigationobjectivestheunitedkingdomsbuildingssector AT dobrinevskialexander measuringthealignmentofrealeconomyinvestmentswithclimatemitigationobjectivestheunitedkingdomsbuildingssector |