Can Construction Technology Aid in Meeting Real Estate Sustainability Goals?
Sustainability is a critical concern for the construction industry as real estate is responsible for approximately 39 percent of total global carbon emissions.
According to Colliers, climate change and its associated consequences remains a key concern for many real estate stakeholders. Added supply of sustainable and resilient buildings is a top priority, in line with the commitments made by investors, evolving regulatory standards, government emphasis on targeted emission reductions, and increased demand from tenants and employees. These changes have brought a sense of urgency to real estate leaders. The climate transition not only creates new responsibilities for real-estate players to both revalue and future-proof their portfolios but also brings opportunities to create fresh sources of value.
Real estate is central to global climate change mitigation efforts. Sustainability is a critical concern for the construction industry as real estate drives approximately 39 percent of total global carbon emissions. Approximately 11 percent of these emissions are generated by manufacturing materials used in buildings (including steel and cement), while the rest is emitted from buildings themselves and by generating the energy that powers buildings. With countries and organisations worldwide aiming for net-zero emissions, and green building codes being ushered in by municipalities, construction firms are now focused on enhancing their commitment to eco-friendly practices and waste reduction.