Real Estate Portfolio Carbon Risk Score (CaRiS)

COP26之后，建筑环境的脱碳继续受到高度关注，因为组织签署了净零宣言，提供了一系列第三方自愿承诺，实现透明度，以及一系列碳计算器，工具和流程在一定程度上有助于指导和决策。建筑专业人士及其在新建筑脱碳决策中的作用以及在较小程度上的翻新决策中的作用受到了如此多的关注。支持ESG透明度和披露的绿色融资的增长使与建筑环境资产相关的金融服务提供的绿色债券大幅增加。据估计，英国各地的建筑物价值超过12万亿英镑（商业，住宅）。其中，住宅区（多人入住，包括公寓，酒店）占主导地位，根据第一太平戴维斯的数据，2019年价值7.4万亿英镑，2022年估计接近9.0万亿英镑（85%为私人所有）。对于住宅建筑的投资组合，投资者对运营碳负荷和隐含碳缺乏可见性或意识。这隐藏了风险，但也有机会金融服务机构需要更好地了解运营碳和隐含碳对与资产相关的气候和环境风险的相对贡献（以及生命周期考虑和翻新干预的影响）。然而，目前还没有一致的方法来做到这一点。CaRiS是一种方法和概念验证工具，使金融服务机构能够更好地了解与建筑环境资产组合相关的具体和运营碳，从而在未来管理资产组合时实现有效的风险管理和更好的决策。该项目将使利益相关者能够更好地了解具体需求，开发和测试CaRiS工具的早期原型，并利用现有的数据集和工具输出。材料银行的原则将被探讨量化潜在的“体现碳信用”。这种信贷将使客户能够将其建成的资产作为有价值的材料银行（而不是隐含的碳负债）进行管理。对于运营碳，我们将超越EPC，寻找可以收集的数据来源和方法，以提供一致的衡量标准。改善资产运营碳绩效的干预措施（如可再生能源、热能、织物）将与产生的隐含碳一起提出。这两条链结合联合收割机作为资产的碳轨迹（汇总到投资组合中），从而实现碳风险评分概念。

Decarbonising the built environment continues post-COP26 to receive heightened focus as organisations sign net zero declarations, a range of third party voluntary commitments enabling transparency are on offer and an array of carbon calculators, tools and processes help somewhat in guiding and in decision making. Rightly so much attention has focused on construction professionals and their role in decision making to decarbonise new build and, to a lesser extent, refurbishment.The growth in green financing that supports ESG transparency and disclosure has seen a huge upshift in the green bonds offered by financial services associated with the built environment assets. Buildings are estimated to be worth \>£12tn across the UK (commercial, residential). Within this the residential sector (multi-occupancy, including apartments, hotels) dominates, which according to Savills in 2019 was worth £7.4tn and in 2022 is estimated close to £9.0tn (85% privately owned).For a portfolio of residential buildings there is a lack of visibility or awareness of the operational carbon load and the embodied carbon an investor is taking on. This conceals risks, but also opportunities. Financial services organisations need to better understand the relative contributions that operational and embodied carbon make on the climate and environmental risk associated with assets (and the impact that lifecycle considerations, and refurbishment interventions have). However, there is currently no consistent methodology to do this.CaRiS is a methodology and proof-of-concept tool that enables financial services organisations to better understand embodied and operational carbon associated with a portfolio of built environment assets, enabling effective risk management and better decisions in managing portfolios in future.The project will enable work with stakeholders to better understand the specific need, and to develop and test an early prototype of the CaRiS tool drawing upon existing data sets and tool outputs. The materials bank principle will be explored to quantify potential for an 'embodied carbon credit'. Such a credit would enable clients to manage their built assets as valuable materials banks (rather than embodied carbon liabilities). For operational carbon we will look beyond EPC for data sources and approaches that can be harvested to provide a consistent measure. Interventions (e.g. renewables, heat, fabric) to improve the assets operational carbon performance will be presented alongside embodied carbon incurred. The two strands combine as a carbon trajectory for the asset (aggregated into the portfolio) enabling a carbon risk score concept.