Background

The global transition to sustainable, low-carbon economies requires a transformative change in how we design, construct, and operate buildings. For developing countries, SIDS, and LDCs, the urgency to transform these sectors is most apparent in their vulnerabilities to climate risks such as extreme heat, flooding, and resource scarcity. Addressing these challenges requires a dual focus on mitigation—reducing operational and embodied carbon—and adaptation—enhancing resilience to climate extremes.

Given the growing recognition of the importance of accelerating climate action in the Buildings and construction sector, the topic has received increased attention at COPs over the last two years. At COP28, the Buildings Breakthrough was launched, and at COP29, the Intergovernmental Council for Buildings and Climate (ICBC) was officially launched. These two initiatives aim to strengthen international collaboration and are facilitated through the Global Alliance for Buildings and Construction (GlobalABC). Reducing the greenhouse gas emissions of cities and urban buildings was also the focus of the third Global Dialogue and Investment-focused Event held under the Mitigation Work Programme 27 to 29 May 2024 in Bonn.

The bodies of the UNFCCC Technology Mechanism, in accordance with their respective functions, have taken steps to promote technologies and practices that could assist countries in achieving climate goals for the built environment. The Technology Executive Committee is working with the GlobalABC and the Massachusetts Institute of Technology (MIT) Climate Policy Center on two policy briefs focused on deploying proven climate technologies and leveraging building performance data to secure financing; while the CTCN is providing technical assistance to countries to support building decarbonisation and resilience.

The TEC and CTCN, in line with mandate by Parties to the UNFCCC and Paris Agreement, also aim to collaborate and engage with financial actors with a view to enhance the capacity of developing countries to prepare project proposals and facilitate their access to available funding for technology deployment.

Objective

The event aims to bring together policymakers, researchers, industry leaders, and financial institutions to explore how policy interventions and data-driven insights can accelerate the financing and deployment of climate technologies in buildings. By addressing the intersection of technology, policy, data, and financing, the event will facilitate discussions on:

• •    High-impact, cost-effective, market-ready climate technologies for the buildings sector
• •    Challenges, opportunities, and good practices for leveraging building performance data to attract and secure project financing
• •    Ensuring people-centered and inclusive approaches in deploying technologies to achieve global climate goals while meeting the growing demands of urbanization and development.