Shaping the Future of Construction A Breakthrough in Mindset and Technology

The Engineering & Construction (E&C) industry strongly affects the economy, the environment, and society as a whole. It touches the daily lives of everyone, as the quality of life is heavily influenced by the built environment surrounding people. The construction industry serves almost all other industries, as all economic value creation occurs within or using buildings or other “constructed assets”. As an industry, moreover, it accounts for 6% of global GDP. It is also the largest global consumer of raw materials, and constructed objects account for 25-40% of the world’s total carbon emissions.

Multiple global megatrends are shaping the future of construction. Consider just two developments: first, 30% of global greenhouse gas emissions are attributable to buildings (at the same time, the UK government has set a target for 2025 of a 50% reduction in today’s level of greenhouse gas emissions in the country’s built environment); second, the population of the world’s urban areas is increasing by 200,000 people per day, all of whom need affordable housing as well as social, transportation and utility infrastructure.

Also Read: Evaluation of Affordable Housing Program in Papua New Guinea: A Case of Port Moresby