The 196 signatory countries of the Paris Agreement have agreed to a common goal of maintaining the global temperature increase to well below 2 degrees, and preferably no more than 1.5 degrees, by the end of the century. According to the 2020 UNEP Emissions Gap report, to be on track for the 1.5 degree goal, the world needs to reduce global emissions by over 50% by 2030 and work towards carbon neutrality by 2050. As the buildings and construction sector accounts for 35% of final energy use and 38% of energy and process-related carbon dioxide (CO2) emissions globally, the retail real estate (RRE) sector will have to play a major part in achieving this vision.
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