How Smart and Green Buildings are Shaping Future Cityscapes
Future structures will be green builds, smart builds, or both. One of the cheapest approaches to meeting climate goals is thought to be the de-carbonizing of the global building stock and ensuring new buildings and rebuilds are carbon neutral.
Designers, regulators, investors, owners and tenants are in search of creating ‘smart’ and ‘green’ living spaces because buildings and their construction are costly, affect the lives of their inhabitants, and impact the environment.
According to the International Energy Agency (IEA), in 2019, the buildings and construction sector accounted for 35% of final energy use and 38% of energy and process-related carbon dioxide (CO2) emissions.
Combining smart and green building technology with enhanced networks that provide for future adaptability results in “intelligent” buildings designed and constructed to be economically sustainable, reduce negative environmental impacts, preserve natural resources like water and energy and improve quality of living.
According to the International Finance Corporation (IFC), green buildings represent one of the biggest investment opportunities of the next decade at US$24.7 trillion across emerging market cities. Most of this potential opportunity (US$17.8 trillion) is in East Asia Pacific and South Asia where by 2030 over half of the world’s urban population is expected to live.
US$15.7 trillion, 60% of the investment opportunity is in residential construction.
To meet the goals of the Paris Agreement, all buildings would need to be net zero carbon by 2050, but less than 1% of buildings meet this requirement currently.