Market Transformation
The change necessary to deliver long-term sustainability requires a fundamental shift in the way businesses operate.
Our Market Transformation workstream aims to facilitate transformative change across the industry through the development and delivery of ambitious industry leading initiatives. Our Market Transformation workstream covers Net Zero Carbon and Climate Resilience. Read on to find out more about what we’ve delivered in these areas.
View our case studies on Market Transformation and Net Zero Carbon.
Net Zero Carbon Working Group Co-Chairs
The Group’s key initiative is the BBP Climate Commitment – a pledge in which signatories commit to being Net Zero Carbon by no later than 2050, to publish net zero carbon pathways and delivery plans, disclose the energy performance of their assets and develop comprehensive climate resilience strategies.
Highlights from the last year include:
- Launched the BBP Carbon Credit Procurement Guide, supporting more credible offsetting approaches.
- Delivered extensive member engagement, including interviews, roundtables, and working groups, capturing real-world delivery challenges and priorities.
- Contributed to industry consultations and frameworks (CRREM, SBTi), representing member views and shaping direction
- Advanced work on the Net Zero Carbon Audits Guide, establishing a consistent approach to assessing process
- Convened targeted member sessions, such as our Investment Managers' Huddles, addressing specific implementation challenges
- Supported the rollout and early engagement with the UK Net Zero Carbon Buildings Standard. (V1)
Current Priorities:
- Convene a BBP and SBTi roundtable to explore implementation and market alignment
- Develop practical guidance on net zero carbon audits to support consistent assessment and action
- Deliver an energy systems insight session with National Grid / NESO on future scenarios and implications for real estate
- Host an energy resilience roundtable focused on strengthening asset- and portfolio-level resilience strategies
- Explore decarbonisation challenges and opportunities within the rapidly growing data centre sector
- Facilitate a workshop on moving from net zero targets to delivery, including commercial models, tenancy barriers, capex constraints and investment decision-making
Related Resources:
Climate Resilience Working Group Co-Chairs
The Climate Resilience Working Group is chaired by Janine Cole, BBP Chair, from GPE and Shuen Chan, BBP Board Member.
The Group is responsible for developing the BBP’s approach to defining climate resilience, outlining how it is best delivered and measured, and how working together BBP members can support each other to evolve best practice.
Find out more about our work in this area on our BBP Climate Commitment Page, where you can also access our Climate Resilience Guide.
Highlights of the last year include:
- Delivered two member-exclusive Urban Climate Walking Tours
- Developed climate resilience strategies and adaptation plans across member portfolios
- Published the BBP TNFD Guide for Commercial Real Estate
- Updated BBP Climate Resilience Guidance
Current Priorities:
- Publish BBP guidance on nature and biodiversity in the built environment
- Convene a BBP–insurance industry roundtable on insurability and climate risk
- Deliver a knowledge session on climate adaptation, with a focus on flood resilience
- Host an Urban Nature Walking Tour to explore place-based biodiversity in practice
- Facilitate a member discussion on place-based impact investing
Related Resources:
“The BBP’s climate resilience guide for the commercial real estate sector provides a practical framework that helps real estate businesses to better understand, prepare for and adapt to the increasing threats of climate transition and physical risks.”
Shuen Chan, Independent