The business case for Net Zero in innovation hubs
The early planning of innovation hubs in the life sciences sector can help these complex institutions make the greatest possible contribution to the decarbonization of Switzerland, achieving better buildings, greater value for users and better fulfillment of environmental goals.
This summer, Swiss voters approved a new Climate and Innovation Act that strengthens the national commitment to environmental compliance by setting targets for the construction sector and other industries. The new law sets the framework conditions for how Switzerland can achieve the goal of zero greenhouse gas emissions by 2050 and defines concrete milestones along the way. CO2-intensive sectors such as construction, transport and industry must achieve their own interim CO2 reduction targets under the Act.
For real estate and infrastructure developers working in Switzerland's dynamic science sector, it is important to address the issue of net zero emissions now. Developers who embrace the Net Zero target for major innovation projects have the potential to construct buildings more efficiently and significantly increase user satisfaction and wellbeing, thus creating a better environment. Considering the Net Zero goals as early as possible in the planning of programs and projects enables this goal to be aligned with other business goals and ultimately to develop a sustainable project.
Uncertainty in innovation hub projects
As centers of excellence, innovation hubs play an important role in supporting scientific initiatives on the path from research to commercialization. With their laboratory and office buildings, these innovation-driven communities offer tenants ranging from start-ups to global life science players space for development. This diversity of tenants presents developers with complex tasks, as the users of the buildings are generally not yet known at the start of a project. Once the tenants have been determined, they bring their own requirements for the building's equipment, which are tailored to their operational needs. As a result, these buildings themselves are usually very innovative and go beyond the budget and time constraints set by the developers.
Although there are now more than 100 Innovation Hubs worldwide, relatively little data and information is shared between developers, construction companies and end users on final costs and realization times, making it difficult to gain an understanding of the industry. All of these factors can lead to a high degree of cost uncertainty in projects.
The net zero opportunity
Switzerland's efforts to drive decarbonization will lead to more environmentally friendly innovations being used in buildings and neighborhoods. The new law provides incentives for building owners and developers to invest in technologies such as renewable energy, energy-efficient design and circular economy principles.
Innovation hubs can also promote active transportation for employees, for example by providing secure bicycle parking and showers. Net Zero can thus initiate a variety of measures ranging from commuting to catering and the entire supply chain. However, it is essential that these measures are part of a strategic approach, as this is the only way to achieve an optimal overall result.
Early planning leads to success
Planning at the earliest possible stage helps programs and projects achieve greater planning, cost and schedule certainty and achieve sustainability goals more efficiently. This enables project developers to plan for the achievement of net zero targets alongside other business priorities, taking full account of both the initial capital cost of green measures and the scope for operational savings and wider initiatives such as increased employee satisfaction and wellbeing.
As a global consulting firm, Turner & Townsend works with clients to drive innovation. Thanks to our global project experience, we have the data to develop programs and projects in terms of cost, implementation time and design, and thus effective project and program management. Our digital tools and data make an important contribution to providing a sound basis for planning reliability and decision-making processes for innovative projects.
Project developers who are part of the growing network of Innovation Hubs have the opportunity to achieve sustainable growth and returns through early planning and effective project and program management. Now is the time to act.
- For further information, please contact our office at: zurich@turntown.com
- Link for more details on our transition to Net Zero: bit.ly/netzero-turntown
