A position paper on the rationale, benefits and actionsneeded to upgrade existing buildings and improve Introduction Buildings are central to our lives. Theyare the spaces where we live, work,learn and heal. However, they are also building stock. However, policy and industryefforts remain disproportionately focused on In 2024, around 90 countries had mandatoryenergy regulations for buildings, but only15 applied these to existing buildings.4Althoughmore complex to implement, retrofit standards The buildings and construction sector accountsfor approximately 34% of global energy-related CO2emissions, driven by the energy usedto power, heat, cool and construct them.1Meanwhile, more than 80% of the buildings that Drawing on economic, environmental and social •highlight the benefits of retrofitting existingbuildings, including extending asset life,reducing operational costs, providingsignificant levels of employment and This presents a critical challenge:howto manage and adapt the existing builtenvironment in a way that reduces emissions, In 2024, around90 countries hadmandatory energyregulations forbuildings, but only Retrofitting existing buildings is a centraldecarbonisation and resilience strategyacross regions and building types, and •provide a review of regional and nationalclimate action roadmapsto demonstratehow retrofit plays a critical role in evolving •present practical case studiesto show howsuccessful retrofit projects have alreadybeen implemented and are delivering costand energy savings worldwide. Limiting embodied carbon requires actionacross the entire building life cycle, including The case for retrofit Around80%of the buildingsthat will be in use by 2050 arealready standing Deep retrofits have the potentialto generate savings in energyand operating greenhouse gas The cost of retrofitting existingbuildings can be40% lowerthanthe cost of constructing new Background definitions Adaptive reuse Operational carbon emissions Operational emissions are the GHG emissionsassociated with the use phase of the building.13 The process of transforming existing buildingsto serve new purposes. This approach typically Refurbishment upgrading structural capacity, and modernisingbuilding systems. By extending the life ofstructures, it supports sustainability through Typically entails non-invasive interventionsfocused on superficial enhancements andminor repairs that improve the aesthetic Embodied carbon emissions Embodied carbon emissions in buildings referto the total greenhouse gas (GHG) emissionsassociated with the entire life cycle of Renovation Renovation refers to the process of repairing,updating, or improving an existing building toenhance its functionality, appearance, safety, orenergy performance. It can range from minor Near-zero emission and resilient building Retrofit A near-zero emission and resilient building, asdefined by the Buildings Breakthrough, ishighly energy efficient with minimisedGHG emissions across its life cycle. It is astructure that fulfils functional and technical A more specific type of renovation involvingadding or upgrading components or features toa building. Retrofits may involve installing newwindows, upgrading lighting or improving the •Enhancing energy efficiency leads tolower utility bills.Reducing the financialburden of utility overheads contributes Economic benefits Lowering emissions through innovative The redevelopment of 1 Triton Square,London, UK, demonstrates how, througha ‘marginal gains’ approach, retrofit canmaximise both sustainability and strongfinancial returns. By reusing the existingstructure and façade, the project, whencompared to a new build, cut embodied •Extended building lifespan•Lower utility bills•Shorter project timelines•Enhanced competitiveness•Increased job opportunities •Retrofit projects typically have shorterproject timelinescompared to newdevelopments, allowing owners to bring •By improving energy performance, thermalcomfort and indoor air quality,retrofittingenhances the competitiveness of existingassetsin markets increasingly driven byenvironmental, social, and governance The multiple benefits of deep retrofits: a Retrofitting as a financialopportunity for investors, Buro Happold, working with C40 Citiesand University College London (UCL),created a toolkit to help cities measure thefull value of deep energy retrofits. Pilots in •Retrofitting extends a building’s lifespan, preserves asset value and aligns withcircular economy principles by maximisingthe use of existing materials, reducingwaste and avoiding the rising financial and •Retrofitting creates significantly morejobsper dollar than new construction,generating roughly 9–30 manufacturing This included the generation of net presentvalue (total financial gain after costsdiscounted to today’s value) across the Retrofitting as a risk mitigation Continuous improvement of brownfield •Over 90% of the world’s largest companieshave at least one as