A very practical suggestion from Developer Lend Lease.
Lend Lease’s global head of sustainability, Maria Atkinson, who is at the Bali conference, said building emissions totalled 40 per cent of global greenhouse gas emissions.
Yet the built environment had more potential for quick, deep and cost-effective greenhouse gas mitigation than any other industry, she said.
Ms Atkinson said an emissions trading system would address the “split incentives” nature of the industry — where the developer, owner and tenant of a building were often three different entities
“But by being able to trade and effectively make a financial return on their investments in emissions reduction initiatives, developers and portfolio owners will have an incentive to deliver deep greenhouse gas emission cuts of 60 per cent or more.”
Ms Atkinson said the report showed high value carbon credits of $34 per ton (ton) of carbon dioxide equivalent could realistically achieve a carbon zero position in buildings at nil cost.