First movers coalition on new technology and innovation
Intervention point
Accelerating industry scale innovation to support decarbonisation requires a coordinated approach in order to increase certainty of market forecasts for prioritised solutions that de-risk and scale innovative low carbon solutions.
Current situation
Technologies to support the decarbonisation of the built environment are underdeveloped. There is a significant lack of investment into climate technologies, despite the real estate industry being valued at $326.5 trillion.
The decarbonisation imperative of the Paris Agreement to limit global warming to 1.5ºC means the real estate industry needs to drastically reduce emissions by 2050. However, in many instances the energy mix, production of building materials and availability of non-fossil heat sources means a significant proportion of a building’s emissions cannot be eliminated using current technologies.
The challenge to innovate to decarbonise buildings presents a major R&D funding gap for technologies relative to the size of the industry.
To tackle these risks at an industry rather than single, or multiple company scale, coordinated industry, financier and innovator action is required. This should start at the top of the corporate value chain: procurement and investment from cornerstone companies who dominate both in terms of market share and industry influence. This approach is commonly known as demand signal innovation programmes and offtake agreements.
How to get involved
Join the ULI Europe Technology and Real Estate Council, which focuses on exploring how technology and innovation in real estate and urban development can enhance customer experience and quality of life. https://europeuli.wpenginepowered.com/wp-content/uploads/2022/08/EMEA_Technology-Council_Flyer-Final.pdf
The First Movers Coalition, chaired by the World Economic Forum, is open to like-minded large companies. It presents a great opportunity to take climate action by creating a market for the emerging technologies that are crucial to reach net zero by 2050. https://www.weforum.org/first-movers-coalition/get-involved
SteelZero and ConcreteZero initiatives are also open to be joined by companies engaged in the buildings value chain. https://www.theclimategroup.org/join-steelzero https://www.theclimategroup.org/join-concretezero
The EIF’s Climate and Infrastructure fund is accepting applications from financial intermediaries in an ongoing application process until 30 June 2027. It is for financial intermediaries (such as funds or funds-of-funds, etc.) that are targeting one or more of the thematic and/or horizontal policy priorities in their objectives, which are: Clean Energy Transition & Climate, Sustainable Transport, Environment & Resources, Digital Connectivity & Data Infrastructure, Social Infrastructure, Space Infrastructure. Find more information here: https://www.eif.org/InvestEU/climate-and-infrastructure-funds-calls/main-call-expression-interest.pdf
Horizon Europe is the EU’s key funding programme for research and innovation that tackles climate change and boosts the EU’s competitiveness and growth. All funding information and procedures on how to apply are on the Funding and Tenders portal.
Interested in finding out more? Click here to download the full technical briefing.
Not yet a ULI member? Click here to join.
Last updated: July 2023
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