Low Carbon Buildings

The greenhouse gas impacts of cities are enormous and 70% of a typical large city has impact locked up in buildings. To stand any credible chance of greenhouse gas abatement, buildings offers one of the biggest opportunities. In the long run, green property bonds are expected to make up to 40% of the green bonds market but this will depend on confidence among investors that the buildings are making a genuine contribution to the transition to a green economy. 

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Low Carbon Buildings Criteria
Commercial Buildings CO2 Target Calculator
Approved proxies for certification

NEWS
Sep 2016: Latest TWG meeting 
Sep 2014: Public consultation closed
Jun 2014: Released for public consultation
LATEST CERTIFICATIONS

Jul 2016: Treasury Corporation of Victoria
Jun 2016: Obvion
May 2016: ABN AMRO

The Low Carbon Buildings criteria sets out what property assets are eligible for certification under the Climate Bonds Standard and covers three different types of property assets: 

  • Commercial buildings: Buildings must be in the top 15% of their city in terms of emissions performance. This “hurdle rate” in emissions terms ratchets down to zero (carbon) in 2050.
  • Residential buildings: Existing instruments such as local building codes, energy rating schemes (e.g. US Energy Star) and energy labeling schemes (e.g. Energy Performance Certificates in the UK) are leveraged as proxies for the  achievement of the 15% hurdle rate.
  • Upgrade projects: Building improvements that achieve emission reductions of 30% to 50% (depending on bond term) from a baseline will qualify for certification. 

Further details are provided in the guidance on Low Carbon Buildings Criteria.

The criteria was developed by the Low Carbon Buildings Technical Working Group, which was initially made up of 17 international experts including representatives of the Buildings Performance Institute Europe, the Investor Group on Climate Change and Hermes Real Estate, to mention a few.

Any questions on low carbon buildings?

Please contact Su-Ching at suching@climatebonds.net

The first green bond certified under the Low Carbon Buildings criteria was issued by the ANZ Bank in May 2015, with proceeds of A$600m allocated to green buildings, wind energy and solar energy loans in Australia, New Zealand and parts of Asia.

 

 

Interested in Climate Bonds Certification?
1. Read more about the Climate Bonds Standard
2. Email certification@climatebonds.net for more information
 

TECHNICAL WORKING GROUP - Current Members

 

 

 

 

Investor Confidence Project
(Environmental Defense Fund)

Panama Bartholomy
Director

 

Hermes Real Estate
Tatiana Bosteels
Head of Responsible Investment

Better Buildings Partnership
Chris Botten
Programme Manager

Clean Energy Finance Corporation
Simon Brooker
Executive Director

Investor Confidence Project
(Environmental Defense Fund)

Luís Castanheira
Technical Director

Green Building Council Australia
Jorge Chapa
Head of Market Transformation

Verco
Robert Cohen
Technical Director

UNEP Finance Initiative
Annie Degen-Neuville
​Special Advisor Long Term Finance and
Energy Efficiency Coordinator

International Energy Agency
John Dulac
Buildings Sector Lead -
Energy Technology & Policy

International Finance Corporation
Prashant Kapoor
Principal Industry Specialist

thinkstep
Johannes Kreissig
Vice President Building & Construction

Observatoire de l'Immobilier Durable
LoÏs Moulas
CEO

Buildings Performance Institute Europe
Oliver Rapf
Executive Director

EEVS Insight
Alex Rathmell
Director

Climate Strategy & Partners
Peter Sweatman
Chief Executive

Geophy
Teun van den Dries
Founder & CEO

 

Flux Consultants
Ché Wall
Director 

TWG Lead Specialist 

BRE Group
Alan Yates
Technical Director, Sustainability

European Commission
(Joint Research Centre)

Paolo Zancanella
Officer

 

 

Biographies of current members of the Technical Working Group are available here.

TECHNICAL WORKING GROUP - Past Members