ANNOUNCEMENTS
This study delineates a thorough greenhouse gas (GHG) inventory and a methodology for establishing science-based targets tailored for the construction real estate sector, which addresses significant decarbonization imperatives within an industry that is responsible for approximately 39% of global CO2 emissions and is experiencing heightened regulatory scrutiny, investor expectations, and market sustainability demands. The research establishes a rigorous methodological framework in accordance with the GHG Protocol Corporate Accounting and Reporting Standard, systematically tackling organizational boundaries and emission source identification across Scope 1 (direct emissions), Scope 2 (indirect energy emissions), and Scope 3 (value chain emissions), employing comprehensive data collection protocols that utilize established emission factors derived from DEFRA, IEA, and NAICS databases. The methodology incorporates emissions from stationary and mobile combustion sources, fugitive emissions, electricity consumption, and thirteen categories of Scope 3 emissions encompassing purchased goods and services, capital goods, transportation, waste generation, business travel, and downstream assets. The results of the inventory indicate that Scope 3 emissions account for over 95% of the overall carbon footprint, with purchased goods and services (52-53%), the utilization of sold products (31-32%), and downstream leased assets (7-8%) identified as key contributors, thereby underscoring the essential necessity of decarbonizing the value chain. By employing the Science-Based Targets initiative (SBTi) methodology through specialized tools and sector-specific decarbonization strategies, the research delineates immediate reduction targets of 58.8% for Scope 1 and 2 emissions and 63.8% for Scope 3 emissions, with commitments to net-zero achieving reductions of 90% and 97% respectively by 2050, validated in accordance with the 1.5°C pathway criteria. The strategic significance of exhaustive carbon accounting within the real estate sector is heightened by the emergence of mitigation policies such as carbon pricing mechanisms, building performance standards, obligatory emissions reporting, green building codes, energy efficiency mandates, and ESG disclosure regulations, all of which directly affect financing accessibility, regulatory adherence, and market competitiveness. This integrated approach provides a replicable framework for industry-wide decarbonization, yielding enhanced credibility with investors, improved access to green financing, diminished regulatory risks, and bolstered competitive positioning, while ensuring alignment with global climate objectives and the evolving landscape of sustainability- oriented policy.
