What could happen in this scenario in the lead-up to — Increase in customer demand for low-carbon and sustainable buildings — Technology investment directed away from fossil fuels, toward efficiency and renewables — Increased pricing of carbon emissions expected to reach £87/tCO2 ($100/tCO2), impacting operational costs — Mandatory energy conservation building codes, including net-zero emissions requirement for all new buildings In this scenario, zero carbon legislation, more stringent planning regulation or a carbon tax could lead to higher capital and operational costs.