From drawing board to the Ground Zero

The UNFCC’S COP 21 summit in 2015 marked a positive turn of events to drive transformative initiatives on climate change across the globe. During the summit, 190 countries agreed and committed to keep climate change ‘well below 2 C. In the follow-up events, nearly 180 countries ratified and signed up on this agreement. The Paris Agreement also has important implications for real estate owners, occupiers and investors, especially since buildings account for around 40 per cent of global energy consumption. Clearly, the signatory countries will have to keep real estate and building energy consumption central among the measures they will need to institute to support this commitment.