Report highlights building retrofits as the key to ‘resilient’ cities

A new report from JLL and  Economist Impact (part of The Economist Group) explores how retrofitting and reusing existing commercial buildings can help cities build resilience for the future.

The report titled Radical Retrofit: adapting cities for a resilient future, is based on a survey of 1,000 business leaders in the built environment. The global survey covered twelve cities along a scale of ‘emerging’ to ‘mature’.

One of the key findings is that while retrofit is gaining momentum, it remains below the levels required. Almost 70% of respondents said that retrofitting had increased as a share of business over the last three years. However, the average current annual commercial building retrofit rate of 1% must rise to 3% to meet global climate goals.

Government leadership is a critical factor for driving retrofit. The report points to Tokyo, Washington DC and Singapore to show how performance standards, financial support and ‘retrofit first’ policies are driving significant emissions reductions – and enhancing urban ‘liveability’.

However, market forces such as tenant demands and investor sustainability goals are pushing the commercial building sector down the retrofit route. Matching tenant demand for sustainable, energy-efficient spaces is a growing factor for success in the commercial building sector (as noted in The SectorScope report here)

The report notes that: “Cities that succeed will make retrofitting central to economic renewal, climate action and urban wellbeing. With the right strategies, city leaders can turn it from a climate obligation into a powerful opportunity for transformation.”