Net Zero Carbon Boom(ers)

It is accepted now that not only will the older generations leave youngsters with astronomic monetary debt (unless newly crowned PM Liz Truss works a miracle) but also a huge carbon indebtedness.

According to the International Energy Agency today’s children will emit 10 times less CO2 than their grandparents. What a statistic to demonstrate the collective lightbulb moment we have had (link here… CO2 emissions - Kids will emit 10 times less CO2 than their grandparents | World Economic Forum (weforum.org)).

But that stat does not reflect how Boomers (and I now sadly class myself in that definition thanks to my 16 year old) do care about climate change. A number of publications have reported that the older generation are ahead of millennials when it comes to taking positive action. We see that in decisions that are being made in board rooms across the country. See our very own statement (Shoosmiths makes the British Property Federations Net Zero Pledge ) and I am delighted that we can attest to the sea change in attitudes to Net Zero in the Living Sector and business generally (Investing in tomorrow ESG report 2022) as we see our clients investing, developing and operating in UK real estate commit to a greener future.

A couple of examples show the Living Sector is leading the way for UK real estate.

First up, Room 2 Hometels (room2 hometels | A place to live, not just to stay). Room 2 recently opened a stylish boutique affordable hotel (or hometel) just off Chiswick High Road. Billed as the world’s first whole life net zero hometel this means that all of the carbon emissions from conception through to end of life have been reduced and rebalanced to zero. How is this done? Heat pumps, technology, thoughtful decision-making in respect of loose furniture and fittings together with offsetting in Nicaragua. Green and stylish – tick!

Later Living developer, Retirement Village Group, is reported to be starting on site at Botanical Place in Surrey this month and the first developer to use the UKGBC’s Net Zero Carbon Framework and L&G backed Inspired Villages is on site at Millfield Green in Bedfordshire with aims to be operationally net zero. Not only will such developments reduce the carbon footprint but also reassure older residents around affordability of energy as the development will generate its own energy through on site photovoltaics and ground source heat pumps. Very topical right now as household energy bills soar.

Link any Net Zero Carbon developments you have spotted in the comments while they are a relative novelty. Change is coming quickly.