Radical Retrofit: Adapting Cities for Resilience

JLL and Economist Impact have published the report “Radical retrofit: adapting cities for a resilient future” highlighting the role of building retrofits in cutting emissions and improving urban resilience.

• Main announcement/action: The report, based on a survey of senior built-environment leaders and expert insights across 12 cities (Berlin, Delhi, Dubai, London, Los Angeles, Mexico City, New York City, Paris, Singapore, Sydney, Tokyo, Washington, D.C.), finds 69% of organizations shifted toward retrofitting in the past three years and states that the retrofit rate must accelerate from today’s 1% to around 3% annually to align with climate goals. It also projects urban population growth of 2bn by 2030.
• Background and key details: The report identifies policy and finance levers—citing examples of performance standards, targeted financial support and “retrofit-first” policies in Tokyo, Washington, D.C., and Singapore—and quantifies barriers: 61% of respondents cite owner hesitancy from high upfront costs and uncertain returns; 51% cite weak investor interest. It recommends activating six critical pathways: building awareness, policy implementation, quantifying benefits beyond energy, unlocking innovative financing, leveraging emerging technologies, and addressing talent bottlenecks.