International analysis points to an apparent decoupling of building-sector emissions from construction growth — total floor area continues to rise, while operational CO2 from buildings has plateaued or fallen in many markets.
The drivers are familiar: cleaner electricity grids, more efficient appliances and lighting, tighter building regulations, and faster heat-pump adoption.
What it means for UK commercial portfolios
Decoupling at a national level does not automatically translate into decoupling at an asset level. Many UK commercial buildings still run gas-fired heating, oversized HVAC, and inefficient lighting — and grid decarbonisation alone won't get them to net zero.
Embodied carbon is also rising up the agenda. As operational emissions fall, the carbon locked into structure, façade and fit-out becomes proportionally more significant — particularly on Cat A/B refurbishments.
A practical takeaway
Combine an EPC and MEES screening pass with whole-life carbon thinking on any major works. The buildings that perform best on a 2030 valuation horizon will be the ones that have addressed both at the same time.
Source: BusinessGreen — 17 March 2025