The Net Zero Carbon Pathway Framework has been designed to support signatories to the Better Buildings Partnership's (BBP) Climate Commitment, and to encourage greater transparency concerning the scope of property owners' net zero carbon pathways. The framework sets out the information that property owners should include in their Net Zero Carbon Pathways, including the investment boundaries, carbon scope and delivery strategies.

In recent years, business has become increasingly vocal about the need to respond to the climate crisis, and many organisations have sought to demonstrate action by making commitments to become “net zero carbon”. The commercial real estate sector is no different.

In September 2019, the Better Buildings Partnership launched its Member Climate Commitment. One of the key actions is for each signatory to externally publish a Net Zero Carbon Pathway, setting out how they plan to deliver “net zero carbon” buildings before 2050, as well as publish progress towards this goal annually.

It is one of the most comprehensive and extensive commitments in the real estate industry. It includes some of the most challenging emission sources for property owners to measure and manage, namely tenant energy consumption and embodied carbon. To that end, the Commitment is extremely ambitious in nature. Yet, members of the BBP understand and accept that if we are to tackle the full climate impact of the built environment, we must reflect the broad scope of carbon emissions that are associated with our property investments, even if we are not yet sure how we will do it. 

The BBP Climate Commitment was developed to demonstrate leadership, but also to encourage greater industry consistency and drive market transformation. It sets clear boundaries that apply equally to all signatories, with the intention that the Commitment should cover as many assets under management as possible and include emissions from all major activities associated with the development, operation and servicing of commercial real estate investments.

It is important to note that the signatories’ Net Zero Carbon Pathways will vary according to their real estate investment strategies, business models, and leasing structures, and any review of signatories’ pathways should take account of this. It is also anticipated that signatories’ pathways will evolve over time as best practice is shared and understanding improves.