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Press release from the SMI 18 October 2022

The Sustainable Markets Initiative announces Sustainable Buildings Task Force to accelerate adoption of net zero buildings

Task Force to focus on Technology and Partnerships & Incentives to drive a decarbonised future

The Sustainable Markets Initiative (SMI) is proud to announce the formation of its Sustainable Buildings Task Force. Leaders from global companies in the built environment have come together to form the Task Force at the invitation of His Majesty King Charles III, in his former role as His Royal Highness The Prince of Wales. 

The Sustainable Buildings Task Force is made up of global CEOs from throughout the buildings industry working together to accelerate the delivery of net zero buildings to reduce carbon emissions and is chaired by George Oliver, Chairman & CEO, Johnson Controls (NYSE:JCI). The Task Force supports the overall SMI mission to speed the world's transition to a sustainable future by engaging and challenging public, private, and philanthropic sectors to bring economic value, in harmony with social and environmental sustainability. 

“Effective climate action requires us to move quickly. Buildings account for nearly 40% of the world’s greenhouse gas emissions and decarbonizing buildings is the key to decarbonizing our future to ensure generations to come experience a healthy, safe and sustainable planet,” said George Oliver, Chairman & CEO, Johnson Controls. “The SMI Sustainable Buildings Task Force has a key role to play, and I am honored to be working alongside such a diverse group of leaders to drive impactful, measurable change. Together, we can harness the power of technology and digital transformation to advance policies that will accelerate the delivery of net zero buildings. In doing so, we are not only showing proper stewardship of the environment, but also of shareholder interest and long-term asset value.” 

Ahead of COP27 and recognizing the urgency to move quickly, Task Force members AECOM, CBRE, Derwent London, Johnson Controls, Knight Frank, McGill and Partners, Robertson, Trane Technologies and Viohalco, have committed to developing a collective roadmap to creating more sustainable buildings. In coordination with other SMI Task Forces, the SMI Sustainable Buildings Task Force will focus its attention on delivering action in the following two priority areas: 

  • Technology. The Task Force will encourage technology adoption, assessing barriers and addressing market drivers. It will provide guidance on effective, sustainable technologies and their applications, identify the most effective actions building owners can take to reduce building emissions and provide further guidance to address market gaps. 

  • Partnerships and Incentives. The Task Force will showcase coordinated global efforts whereby the private sector is accelerating the transition to a sustainable future by minimizing operational energy and lifecycle emissions within existing real estate portfolios. The team will outline opportunities to promote partnerships across the commercial building sector, address roadblocks and identify key policies to outline how governments can incentivize building retrofits and green design principles. 

To learn more about the work of the Sustainable Buildings Task Force, visit the website page here