Higher education institutions in the UK will need to spend an average of nearly £125 million each to fully decarbonise, a new report has estimated.
The total cost of reaching net zero for the entire sector has been put at more than £37 billion by The Cost of Net Zero, published by the Association of University Directors of Estates (AUDE), the British Universities Finance Directors Group (BUFDG) and the Alliance for Sustainability Leadership in Education (EUAC).
At £24.4 billion, costs embedded in the supply chain account for by far the most expensive area that institutions will need to tackle, with changes to the built environment costing a projected £6.5 billion and travel and transport decarbonisation £5.1 billion.
Decarbonising supply chains will require institutions to reduce “the embodied carbon in products and goods” they purchase and engage with suppliers, the report – prepared by consultancy firm Energise – suggests.
