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HONG KONG SAR – Media OutReach Newswire – 22 April 2026 – Cushman & Wakefield, a leading global real estate services firm, today released its annual Beyond the Carbon Blind Spot – Embodied Carbon and Scope 3 Emissions in the Commercial Property Sector on the Chinese Mainland, a landmark report highlighting the growing importance of whole-life carbon in shaping the future of real estate investment, development, and asset performance.
What is Embodied Carbon?
Scope 1, 2 and 3 Emissions in Commercial Real Estate
Shanghai – The Average Green Grade A Office Rental Compared to the Average Non-Green Grade A Office Rental (Q4 2015-Q1 2026)
Source: Cushman & Wakefield Research
The report finds that while operational energy efficiency has improved significantly across the sector, embodied carbon and Scope 3 emissions now represent the majority of total lifecycle emissions in many commercial buildings.
A Shift to Whole-Life Carbon Thinking
As building efficiency improves and electricity grids decarbonise, the relative importance of embodied carbon is increasing. The report highlights the “redevelopment paradox”: while new buildings are more energy efficient, demolition and reconstruction can generate such high upfront carbon that total lifecycle emissions may exceed those of retained and refurbished assets.
This shift is particularly relevant in rapidly evolving urban markets such as Shanghai, Beijing, Shenzhen, and Guangzhou, where redevelopment cycles are frequent and asset repositioning is common.
Scope 3 Becomes a Core Market Driver
Scope 3 emissions – covering embodied carbon, tenant energy use, and supply chain activities – are now the largest emissions category for most real estate portfolios.
The report shows that leased office space is increasingly a key Scope 3 exposure point for occupiers, especially multinational companies operating under global net-zero commitments. As a result, Scope 3 performance is now influencing:
Leasing decisions and tenant demand
Capital allocation and ESG investment screening
Access to green finance
Corporate disclosure and benchmarking frameworks
Carbon as a Financial Factor
Embodied carbon and Scope 3 emissions are no longer just sustainability metrics – they are collectively a financially material driver of asset value. The report demonstrates that differences in whole-life carbon performance can create meaningful divergence in asset outcomes through:
Rental performance and occupancy resilience
Operating costs and capital expenditure requirements
Exit yields and investor demand
A comparative analysis shows that carbon performance alone can drive a value differential of approximately 37% between otherwise identical assets.
From Risk to Opportunity
While regulatory frameworks continue to evolve, global capital and leading occupiers are already embedding whole-life carbon considerations into decision-making. The report highlights a clear opportunity for market participants who act early through:
Adaptive reuse and retrofit-first strategies
Low-carbon materials and construction innovation
Supply chain engagement and procurement reform
Green leasing and tenant collaboration
Improved carbon data and governance frameworks
Beyond the Carbon Blind Spot concludes that the Chinese mainland commercial real estate sector is entering a decisive new phase where whole-life carbon performance is becoming central to competitiveness, asset value, and investment strategy. Stakeholders who integrate embodied carbon and Scope 3 considerations into core decision-making today will be best positioned to enhance resilience, unlock capital, and deliver long-term value in a rapidly evolving market.
Alton Wong, Executive Director, Head of Sustainability Advisory Services, Head of Advisory Services, Valuation and Advisory Services, Greater China, said, “Embodied carbon and Scope 3 emissions are now firmly at the centre of the decarbonisation agenda for commercial real estate. As operational performance improves, the industry is being forced to confront the much larger, and more complex, emissions embedded across the full asset lifecycle. This is driving a fundamental shift in how buildings are designed, constructed and managed, with increasing emphasis on material choices, retrofit strategies, and supply chain engagement. What was once considered a technical sustainability issue is now a core strategic priority for investors and occupiers alike.”
Shaun Brodie, Head of Research Content, Greater China, said, “Our research shows that carbon is rapidly becoming a defining factor in commercial real estate performance on the Chinese mainland. The transition to whole-life carbon thinking is not just about reducing emissions – it is about understanding how sustainability directly impacts asset value, leasing dynamics, and investment outcomes. As occupiers and capital providers place greater weight on embodied carbon and Scope 3 emissions, assets that fail to adapt risk accelerated obsolescence, while those that lead on carbon performance stand to capture a clear competitive advantage.”
The issuer is solely responsible for the content of this announcement.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 53,000 employees in nearly 350 offices and 60 countries. In Greater China, a network of 23 offices serves local markets across the region. In 2025, the firm reported revenue of $10.3 billion across its core services of Valuation, Consulting, Project & Development Services, Capital Markets, Project & Occupier Services, Industrial & Logistics, Retail, and others. Built around the belief that Better never settles, the firm receives numerous industry and business accolades for its award-winning culture. For additional information, visit www.cushmanwakefield.com.hk or follow us on LinkedIn (https://www.linkedin.com/company/cushman-&-wakefield-greater-china).
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Thailand has wrapped up the second Thailand Kickboxing World Cup in Bangkok and used the event to unveil KATPRO, a new professional league aimed at turning the country into a more prominent force in global kickboxing. The tournament was staged at the Bangkok Youth Center, also known as the Thai-Japanese Youth Center, with WAKO listing the event in Bangkok from 7 to 12 April 2026, while organisers said the main World Cup competition ran from 9 to 11 April and the professional launch followed on 11 April.
Organisers said the World Cup drew athletes and officials from 32 countries, underlining the scale of the event and the growing international pull of combat sports in Thailand beyond its traditional Muay Thai base. One published account put attendance at more than 1,500 athletes and officials, while another report ahead of the competition cited more than 720 athletes and over 1,200 supporters and officials. The difference appears to reflect varying methods of counting participants and delegations, but both sets of figures point to a sizeable international turnout.
Bangkok crowns a bigger kickboxing ambition became the broader message around the event, as sport officials and tourism planners tied the competition to a larger push to position the country as a year-round destination for international sports events. The Kickboxing Association of Thailand organised the tournament with WAKO and in cooperation with the Tourism Authority of Thailand and Bangkok authorities, giving the competition both sporting and promotional value.
For Thailand, the timing is significant. Combat sport is already central to the country’s international sporting identity, but kickboxing has long occupied a secondary place to Muay Thai in public visibility and commercial development. By hosting another WAKO-recognised World Cup and pairing it with a new professional platform, Thai organisers are signalling that they want to build a parallel ecosystem: one that can develop amateur athletes, attract overseas fighters and sponsors, and create a clearer route into paid competition.
That strategy also reflects the changing shape of global striking sports. Kickboxing has grown through international federations, regional circuits and commercial promotions that reward standardised rules, television-friendly formats and cross-border matchmaking. Thailand already has the infrastructure, coaching depth and fight culture to compete in that space. What it has lacked is a more structured domestic platform designed specifically for kickboxing rather than adapted from Muay Thai. KATPRO appears intended to fill that gap. Organisers described it as the country’s first structured professional kickboxing league, launched at the same venue as the World Cup. The opening gala featured seven bouts with fighters from more than 10 countries and followed professional procedures including weigh-ins and face-offs.
The official messaging around the World Cup and league launch stressed athlete development as much as spectacle. That matters because Thailand’s long-term credibility in kickboxing will depend not only on hosting events, but on producing fighters who can succeed regularly under international kickboxing rules. WAKO’s event listing confirms that the Bangkok competition sat within a wider calendar of World Cups and championships across multiple countries, placing Thailand within an established global circuit rather than a standalone showcase.
There is also an economic calculation behind the push. Sports tourism has become a more deliberate policy tool across Asia, with governments and city administrations using tournaments to drive hotel occupancy, transport demand, media attention and repeat visits. Holding a multinational combat sports event in Bangkok during April gives organisers a chance to blend competition with destination marketing, and tourism officials made clear they view such events as part of a wider international branding effort.
Still, the bigger test lies ahead. Hosting a successful World Cup is one thing; building a durable professional league is another. Professional combat sports require dependable matchmaking, medical oversight, sponsorship, broadcast distribution, fighter pay structures and fan interest strong enough to support repeated cards. Thailand has advantages in venue culture, gym networks and audience familiarity with striking sports, but kickboxing still has to define its identity in a market where Muay Thai remains the dominant brand.
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Andhra Pradesh Chief Minister N. Chandrababu Naidu has cast Amaravati’s quantum push as a test of whether the country can build strategic technology capacity at home rather than remain tied to foreign platforms, using the launch of two indigenous open-access facilities to argue that partnership with global companies need not mean dependence. The remarks came days after the state unveiled Amaravati 1S and Amaravati 1Q on World Quantum Day, presenting the project as both a technology milestone and a political statement about capability.
Speaking in Amaravati, Naidu pushed back on questions over reliance on companies such as IBM, saying the starting point mattered less than whether domestic institutions could absorb, adapt and eventually build. He described the new facility as proof that companies and researchers in the country are capable of producing quantum systems, while acknowledging that the path to scale will involve collaboration. That framing is central to the state government’s pitch: use foreign alliances where useful, but ensure design, testing, skills and manufacturing depth are developed locally.
The immediate trigger for that argument was the April 14 launch of the Amaravati Quantum Reference Facility, or AQRF, spread across SRM University-AP in Amaravati and Medha Towers in Gannavaram. Andhra Pradesh has described the systems as the country’s first indigenously built, open-access quantum computer test beds, intended to let researchers, startups and industry users test hardware under operating conditions rather than rely only on closed imported machines. Officials say the site is designed to validate processors, cryogenic systems, amplifiers and control electronics, with access for hands-on study and benchmarking.
That matters because quantum computing remains a field in which much of the world’s high-end hardware is controlled by a small number of companies and laboratories. Andhra Pradesh officials and syndicated reports on the launch said about 85 per cent of the facility’s components were manufactured domestically, a claim being used to support the government’s assertion that a “sovereign hardware ecosystem” is now possible. The systems were developed with support from institutions including the Tata Institute of Fundamental Research, the Indian Institute of Science and the Defence Research and Development Organisation, alongside younger firms working on hardware integration.
Yet the sovereignty message sits alongside a second reality: Amaravati’s longer-term quantum ambitions still rely on international corporate participation. IBM, Tata Consultancy Services and the Andhra Pradesh government announced in May 2025 that the planned Quantum Valley Tech Park in Amaravati would seek to host an IBM Quantum System Two with a 156-qubit Heron processor, subject to export licences and final agreements, while TCS would work on algorithms and applications. Naidu himself described that project at the time as part of the National Quantum Mission and a route to job creation and industrial use cases.
That leaves Andhra Pradesh trying to strike a careful balance. On one hand, the state wants the credibility, tooling and developer ecosystem that come with IBM and TCS. On the other, Naidu is signalling that strategic depth cannot rest on access alone. His comparison with the telecom sector was meant to make that case: the country did not master mobile and network technologies overnight, but built capability over time through policy support, local firms and institutional confidence. In quantum, he appears to be arguing for the same sequence — collaborate first where necessary, but move steadily towards domestic competence.
The wider national backdrop supports that ambition. The National Quantum Mission, approved in April 2023 with an outlay of Rs 6,003.65 crore running through 2030-31, is meant to seed research, industrial development and applications across computing, communications, sensing and materials. The Department of Science and Technology says the mission aims to develop intermediate-scale quantum computers in the 50 to 1,000 physical qubit range and has already set up four thematic hubs led by IISc Bengaluru, IIT Madras, IIT Bombay and IIT Delhi. Amaravati’s project is therefore not operating in isolation; it is seeking to attach itself to a national push that is still in its build-out phase.
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