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Giving Compass' Take:
• A virtual round table discussion with the National Association of Energy Service Companies (NAESCO) discussed the importance of investment in critical sustainable infrastructure projects during COVID-19.
• How can donors support investment in these projects?
• Read more about the significance of investment in sustainable infrastructure.
While the coronavirus pandemic has created a global pause, there is an unprecedented opportunity to reset and redefine best practices for how we build, operate and renovate buildings to tackle climate change.
The legacy business-as-usual approach to the construction and operations of commercial buildings contributes to about 40% of the global carbon footprint. Major investment in building resiliency projects will improve economics and help achieve climate goals, but under the less politicized lens of sustainability. Therefore, changing the storyline may be the key to gaining bipartisan support for the policy and financial incentives necessary to act immediately.
Building upgrades and sustainable new construction businesses can create jobs and help revitalize the economy in the post-pandemic recovery period.
These investments are even more critical as cities are being forced to redirect investment in critical infrastructure projects, which would have played an essential role in achieving local emissions reductions goals. As a result, private sector leadership is paramount to charting a course for a more sustainable future.
On April 7, I moderated a virtual round table discussion with the National Association of Energy Service Companies (NAESCO) exploring today's reality for the business of energy efficiency — a vital piece of the story for sustainable buildings that will deliver those essential emissions reductions. Panelists shared their experiences navigating the challenges of project execution, business development and investment in energy efficiency.
While the ESCOs shared many stories focused on the immediate needs of critical facilities such as hospitals, their lessons-learned can apply for market leaders across the private sector.
- Take early opening phases as opportunities to upgrade existing buildings
- Leverage alternative financing to offset capital constraints
- Communicate your commitments and progress
Read the full article about building resiliency by Casey Talon at Smart Cities Dive.