Vancouver and Toronto streets ahead of London for green....
Canada’s Vancouver and Toronto lead the way in terms of office real estate and green building certification, a recent study by CBRE reveals
According to the inaugural International Green Building Adoption Index, 18.6% of space in 10 markets across Australia, Canada and Europe is now certified “green” versus just 6.4% in 2007.
Vancouver (51.6%) and Toronto (51%) are the pacesetters, followed by Sydney (46.5%) and Melbourne (28.8%). London sits bottom of the list of 10, with just 8.7% of its office space classed as green.
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David Pogue, CBRE’s Senior Vice President, Global Client Care/Sustainability, commented: “Buildings, particularly commercial properties, have long been at the forefront of pressing issues like water, waste, and significant energy use and the resultant carbon emissions.
“As the attention being paid to these issues grows, green building certification programs are becoming much more prevalent and more important to a variety of constituents and stakeholders.”
The Australian cities of Sydney and Melbourne have seen green office space grow from less than 1% in 2006 to their current respective levels of 46.5% and 28.8%.
Other cities examined by CBRE include Warsaw (21.3%), Frankfurt (17.5%), Stockholm (12.6%), Amsterdam (11%) and Paris (9.1%).
Dr Rogier Holtermans, project lead on the International Green Building Adoption Index, added: “Despite the presence of a wide variety of local building certification programs, internationally recognised green building certificates tend to be more widely adopted in the commercial real estate market. Tenants and investors need such standardized measures of environmental performance.”
Drax advances biomass strategy with Pinnacle acquisition
The Group’s enlarged supply chain will have access to 4.9 million tonnes of operational capacity from 2022. Of this total, 2.9 million tonnes are available for Drax’s self-supply requirements in 2022, which will rise to 3.4 million tonnes in 2027.
The £424 million acquisition of the Canadian biomass pellet producer supports Drax' ambition to be carbon negative by 2030, using bioenergy with carbon capture and storage (BECCS) and will make a "significant contribution" in the UK cutting emissions by 78% by 2035 (click here).
This summer Drax will undertake maintenance on its CfD(2) biomass unit, including a high-pressure turbine upgrade to reduce maintenance costs and improve thermal efficiency, contributing to lower generation costs for Drax Power Station.
In March, Drax secured Capacity Market agreements for its hydro and pumped storage assets worth around £10 million for delivery October 2024-September 2025.
The limitations on BECCS are not technology but supply, with every gigatonne of CO2 stored per year requiring approximately 30-40 million hectares of BECCS feedstock, according to the Global CCS Institute. Nonetheless, BECCS should be seen as an essential complement to the required, wide-scale deployment of CCS to meet climate change targets, it concludes.