Multidimensional Models for Building Decarbonization Pathways

ABSTRACT The increasing urgency to reduce greenhouse gas emissions has positioned the decarbonization of the existing building stock as a pivotal strategy. It plays a crucial role in the global transition towards forms of low‐carbon economies. This research proposes an integrated and replicable methodological framework designed to steer strategic investment decisions across the energy retrofitting initiatives field by harmonizing economic, environmental and technical dimensions. The methodology integrates established instruments from scientific literature, such as the Carbon Risk Real Estate Monitor (CRREM) for environmental risk evaluation, two‐dimensional scatter plots for exploratory analysis of trade‐offs and multiobjective optimization models based on goal programming principles. It has been applied to a diversified portfolio of 13 buildings located in the city of Rome (Italy). The results highlight the framework's capacity to identify optimal retrofit scenarios that balance investment expenses, payback periods and the alleviation of asset‐stranding issues. Furthermore, the sensitivity analysis outlines the adaptability of the method to different priority weightings, facilitating decision makers in effectively managing complex multicriteria trade‐offs. The study underscores the relevance of integrating environmental and economic criteria to foster investment strategies aligned with ESG standards, supporting both public administrations and private investors in achieving climate objectives.