- Emerging markets require $1.5 trillion to upgrade greener buildings by 2035.
- Investments focus on electrifying older structures, using low-emission materials and constructing energy-efficient systems.
In a global effort to mitigate climate change and reduce carbon emissions, emerging markets are facing the need for a staggering $1.5 trillion in investments before 2035. This substantial financial commitment is essential to transform existing and new buildings into greener buildings. The financial obligation also averts a significant increase in climate-damaging emissions.
The allocated funds will primarily serve two essential purposes. The electrification of older, energy-inefficient buildings with cleaner energy sources and the construction of energy-efficient new buildings utilising low-emission materials. These investments hold immense significance, as the construction industry worldwide currently accounts for 40 per cent of all carbon emissions.
Furthermore, this percentage continues to rise amid a global building boom. This collective effort aims to curb emissions and limit them. The increase in global temperatures to 1.5 degrees Celsius is a crucial threshold for avoiding the worst impacts of climate change. Notably, emerging markets will contribute more than half the required emissions reduction.
These markets will adopt innovative solutions. This includes transitioning to cleaner energy sources, enhancing energy efficiency, and employing low-emission materials in construction practices. The world’s focus on strengthening sustainability in building infrastructure reflects the growing urgency of climate action. It underscores the pivotal role emerging markets play in achieving these critical goals. The $1.5 trillion investment represents a shared commitment to create a greener, more sustainable future for future generations.