ABSTRACT
In this final chapter, the editors review the contents of the handbook and consider what lies ahead. It asks whether the real estate sector really make a difference, and help reduce carbon emissions globally? The stakes are high: although the Paris Agreement on Climate Change is in place, there is now substantial uncertainty over the continued role of the USA, following the election of President Trump. Moreover, research (PwC, 2016) concludes that to prevent warming in excess of 2°C, the global economy needs to cut its carbon intensity (tCO2/$m GDP) by 6.3 percent a year, every year from now to 2100. Simply fulfilling the Paris COP21 Agreement also requires a decarbonisation rate (reduction in carbon intensity) of 3 percent per year, which is more than double the business as usual rate of 1.3 percent (2000-14) (PwC, 2016). Responding to these immense challenges will require agility and responsiveness and ability to deal with ‘wild card’ or ‘black swan’ events (Dixon et al., 2017). Key findings from the four parts of this handbook comprising; governance and policy, valuation, investment and finance, management and redevelopment and adaptation issues. Cross-cutting trends that have emerged in this book, and the short term and medium/longer term trends that will be important in shaping the sector over the next ten to 20 years are highlighted.
