Building back better: the critical role of the built environment
According to GlobalABC’s 2020 Global Status Report for Buildings and Construction, almost 40% of global emissions come from buildings and construction through their lifecycle; and buildings are responsible for almost 35% of final energy demand. In addition, floor area is project to more than double by 2050, driven by urbanization in Africa and Asia. The Paris Agreement Goals cannot be achieved without transforming the built environment sector.
In addition, buildings are key to our economy and prosperity, as the sector accounts for 11-13% of global GDP and 7% of total global employment, highlighting its relevance for the economic recovery. Integrating energy efficiency investments in the form of a massive renovation wave has important benefits: Between 9 and 30 jobs are created for every million dollars invested. What is more, in many regions, and now more than ever, people spend up to 90% of their time indoors, and building efficient, healthy, affordable buildings means healthier environments, less air pollution, reduced energy poverty, reduced inequality, and increased asset value.
Today, the COVID-19 pandemic offers an unprecedented window of opportunity to turn ambition into action and to act fast, together. In this regard, and to guarantee the use of stimulus funds for the transformation of the built environment, the GlobalABC is developing a building decarbonization commitment for national governments. Working towards halving building sector emissions by 2030, the building decarbonization commitment focuses, among other things, on the GlobalABC decarbonization roadmaps which paves the way towards a zero-emission, energy-efficient and resilient buildings and construction sector by 2050.
Founded at COP21 and hosted by UNEP and with 181 members (among which 33 countries), the GlobalABC is the leading global platform bringing together all stakeholders in a joint vision: Towards a zero-emission, efficient, and resilient buildings and construction sector. In this session, the GlobalABC will demonstrate the momentum to go further faster together, by showcasing stakeholders that are seizing the opportunity for accelerating the energy transition and decarbonizing buildings and, through this, our cities and economies.