Real estate firm Savills cited the Global Status Report for Buildings and Construction 2021, which showed that in 2020, the real estate and construction sector accounted for 36% of global final energy consumption and 37% of energy related CO2 emissions, as compared to other end use sectors.

Building activities are the reason for 27% of total CO2 emissions every year, it noted.

According to Savills, the number of office buildings meeting green criteria in cities remains modest, but this provided a good chance for investors to develop green real estate.

The firm said future office upgrades are driven by tenants and investors. The investment market will experience strong competition with green certified office buildings.

It added that cities pursuing green goals are paying increasing attention to carbon emissions from construction and giving priority to equipping themselves with new modern equipment./.