SMART CITIES
“Constructing net-zero Smart Buildings from the ground up is one piece of the puzzle . But it is also important to deal with the existing building stock contributing to carbon emissions ”
MICHAEL KWOK EAST ASIA CHAIRMAN , ARUP
cement and steel ) and buildings operations ( about 70 %), according to McKinsey research .
Given typical asset lifetimes of 30 to 130 years , we cannot wait to replace products at the end of their life cycle if we are to meet climate-change mitigation targets by 2050 . With roughly 80 % of the predicted building stock for 2050 already in existence today , there is a huge need – and opportunity – to retrofit existing assets .
In Europe , the majority of existing buildings are not well insulated : out of 245 million dwellings , around 135 million have a low level of insulation , and 85 million of these are heated with fossil fuels .
The EU estimates that 97 % of buildings built before 2010 need renovation to comply with long-term strategic ambitions . McKinsey calculations indicate that , to achieve these ambitions by 2050 , current renovation rates need to more than double – up from today ’ s approximately 1 % to about 2.5 %.
Michael Kwok , the East Asia Chairman of Arup , the built environment specialist behind iconic structures such as the Sydney Opera house and the Bird ' s Nest in Beijing , said : “ Constructing net-zero Smart Buildings from the ground up is one piece of the puzzle . But it is also important to deal with the existing building stock contributing to
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