“If our country is to deliver on long-term climate change targets, long-term stable policies are vital to attract capital, drive prosperity, create jobs and realise the benefits for businesses and the communities in which they operate.  

The Prime Minister has confirmed that the Government remains committed to net zero by 2050, whilst at the same time pushing back key policies aimed at reducing emissions. This not only makes that target harder to reach, it fuels uncertainty and signals a retrograde step at a time when other countries are accelerating action to decarbonise their economies.  

The decarbonisation of buildings provides a critical opportunity to reduce energy costs, safeguard energy security and embrace innovation, making buildings resilient to future energy price volatility and the impacts of climate change. Leading commercial property owners (including Better Buildings Partnership members with c£300bn AUM) are already investing to future proof their assets making them more energy efficient and reducing their reliance on fossil fuels. To maintain their confidence and upscale these efforts across the sector will require consistent policies supported by credible implementation plans.  

The industry needs Government to back up its ambition to deliver net zero by 2050 with detailed policies and clear timetables that enable the private sector to mobilise the investment needed, boost competitiveness and prevent capital from being directed elsewhere.” 

Sarah Ratcliffe, CEO, Better Buildings Partnership  

“The Government’s retrograde step on long term policies to reach net zero is hugely disappointing. At GPE, our customers continue to demand that we go further faster as we deliver the sustainable workspaces of the future. Despite the announcement this week, we will continue to work with our customers to deliver on our net zero carbon strategy. We urge the government to urgently reconsider their position, in order to support the long-term investment needed to deliver the low carbon-built environment necessary for a climate resilient economy.  

Through organisations like the Better Buildings Partnership, the industry is coming together to collaborate and demonstrate leadership. We would invite the Government to engage with us to better understand how net zero carbon can be delivered at pace.” 

Janine Cole, Sustainability and Social Impact Director, GPE and Chair of the BBP

Responses from the British Property Federation & UK Green Building Council are also linked here.