Strategic Focus: Strategies, Technologies And Tools To Unlock Commercial Retrofits

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Executive Summary

The real estate industry is facing a major challenge in scaling up retrofits to the required rate: deep retrofitting rates must more than double if the industry is to achieve net zero by 2050. Many of the technologies required to transition buildings to net zero are already available, meaning that the issue facing the industry is one of enablement, rather than innovation. The balance of risks and opportunities must swing in favour of retrofitting to accelerate progress. This report helps building owners understand how evolving drivers and barriers are working simultaneously to both encourage and throttle retrofitting. It explores key retrofit principles, to deliver a deeper understanding of risks and opportunities, and outlines those technologies supporting successful retrofit project designs and delivery. 

Table of contents

Summary for decision-makers
The landscape around retrofits is evolving as pressure to decarbonize builds

New opportunities are emerging in building retrofits, amid the growth of green finance, regulations and carbon-consciousness
Commercial viability continues to create delivery issues for retrofits, despite increasing interest
Strategy tips and emerging technologies to retrofit at scale
Five principles to guide successful retrofit projects
An array of technologies and services is unlocking the door to scaling up retrofits
Tech is revolutionizing retrofits to be faster, cheaper and less disruptive

Table of figures

Figure 1. Traditional drivers and barriers to building retrofits
Figure 2. Retrofit project types and purposes
Figure 3. Maximizing retrofit efficiency
Figure 4. Stages of facilities manager and operations team involvement in capital projects
Figure 5. Additional data and forecasting are required to make the business case for retrofits
 

About the authors

Ben Readman

Industry Analyst
Ben is an Industry Analyst in the Verdantix Smart Buildings practice. His current research agenda focuses on ESG strategies and technologies for real estate, and corporate real estate technology investment strategies. Ben Joined Verdantix in 2021, having previously worked as a researcher at CECAN and as a sustainability officer for the NHS. He holds a Masters in Environmental Strategy from the University of Surrey and a BA in Geography from the University of Birmingham.

Claire Stephens

Research Director, Smart Buildings
Claire Stephens is Research Director of the Smart Buildings team. With 18 years of experience in the sector, Claire is recognized as an expert in industries that make up the built environment, in particular, corporate and commercial real estate, and workplace and sustainability technologies. At Verdantix, Claire will be digging into building technology for building owners, occupiers and investors, focusing on how to support them in reaching their ESG objectives. Prior to her arrival at Verdantix, Claire launched Asia’s first corporate real estate, green building and building technology publications. She has also delivered full lifecycle real estate consultancy services covering a broad range of asset types in industries including financial services, oil and gas, pharmaceuticals, technology, consumer goods, media, retail and hospitality.

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