Rossbach: Annual rate of modernization of global housing stock below 1%

The annual housing retrofit rate globally remains below 1%, reads a statement by Anaclaudia Rossbach, executive director of the United Nations Human Settlements Programme (UN-Habitat), Report informs.

The statement was read on her behalf by Rafael Tuts, director of UN-Habitat's Division of Global Solutions, at an intersessional meeting during WUF13 in Baku.

According to Rossbach, global annual housing retrofit rates are far from the 2.5% target required by 2030.

"Regulatory frameworks and market incentives continue to favor demolition over retrofitting and high-carbon materials over sustainable alternatives. This approach needs to change. Guidelines for building codes, circular economy principles, and energy efficiency standards must be ambitious and tailored to the specific country context," she noted.