Property and the environment: impact and solutions
The figures are eye-watering : the property sector is responsible for 40% of energy consumption and CO2 emissions in Europe, which is not good for the environment. The good news? The world is changing, and humans possess one great quality: their ability to adapt.
Today, new generations are bringing new values, new aspirations and new ideas! Millennials advocate a sharing economy and are introducing new ways of doing things to support it: it is now possible to share a car, a house or a parking space, to name just a few examples.
There is widespread awareness in our society: we no longer want planned obsolescence or low-cost production.
In light of this, the property sector must adapt to our new ways of living. It can rest assured that, while the authorities are becoming increasingly strict on pollution, they are also understanding and support improvements in construction.
As we know, in Belgium, property renovation is a regional responsibility, but there is no need to panic: all three regions share a common objective of reducing the energy consumption of property in Belgium by 2050.
Accordingly, in Flanders, Wallonia and Brussels, various energy and renovation grants may be awarded to improve a property while also considering our beautiful planet.
In particular, a property owner may receive a grant to insulate their roof, install a condensing natural gas boiler, bring their electrical installation up to standard, etc.
These regional grants form part of the drive towards a circular economy: today, we want to be able to use a property for as long as possible. In the property sector, this means that a property's value is also measured by its long-term potential.
How can circular economy principles be applied to property?
Vincent Verdenne, Development Director at BNP Paribas RealEstate Valuation, identifies four approaches:
- Design a property as an ecosystem: consider the carbon footprint of a property and its materials, and estimate the energy consumed from its construction through to its demolition/renovation.
- Optimise operating expenditure: consider energy efficiency (heating, electricity, etc.).
- Give obsolete properties a second life. Let us focus on renovation rather than demolition.
- Reuse materials for other buildings: recycle materials for other property projects. Opalis is a treasure trove for this: there you will find second-hand parquet flooring, doors, tiles, etc.
Property investors and developers have a major role to play in this sustainable economic growth. And things are changing and evolving in Belgium! Take the example of the VUB student accommodation, which is part of Europe's first circular renovation project. The materials used for this “Circular Retrofit Lab” are all reusable and can be installed in other buildings.
Other new-build projects such as “Elysée” aim to be energy-efficient and environmentally friendly developments. The external insulation for the façades, window frames and roof has been carefully calculated, with the aim of limiting energy requirements.
So, Belgium is making progress, isn't it?
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