Why is the Building Sector important in reducing GHG emissions?
According to the UN Environmental Programme, global greenhouse emissions reached their highest-ever level of 59.1 gigatonnes of carbon dioxide equivalent, in 2019. Two of the most significant international deliberations that addressed the urgency to combat climate change included the COP21 and the COP26. During the COP21 in 2015, the Paris Climate Accords were adopted by 196 countries, with the aim to mitigate climate change. The central target agreed upon in the Paris Agreement was to keep a global temperature rise below 2 degrees Celsius in this century, and to pursue efforts to limit the increase even further, to 1.5 degrees Celsius. During the COP26, in 2021, deliberation took place around setting net-zero emission targets by mid-century, while emphasising upon the need to set national targets for 2030.
According to a report published by the UN Environment Programme, according to ‘absolute’ terms, the top six emitters globally included China, USA, Europe, and India. However, if argued in support of the relevance of ‘per capita’ GHG emissions, the top emitter is the USA, followed by Russia and Japan. India would then fall to the 6th position. This is illustrated by the following graph published by the UN EP report, 2020.
Both, absolute and per capita terms must be taken into account while devising strategies to reduce the carbon footprint. Hence, these top emitters have a significant role to play, towards the emergence of net-zero emissions, and subsequent reduction in carbon footprint.
The Indian Government has expressed its commitment to the 2030 Sustainable Development Agenda launched by the UN summit and has shown support to the SDGs by launching national goals in tandem with environmental protection. At the 26th Conference of Parties (CoP26), India displayed commitment to achieve net zero emission targets by 2070.
More than half the world’s population already lives in cities, and this presents a challenge for planners to create sustainable solutions that can meet the burgeoning requirements of the population. Climate change, previously a peripheral concern for many real-estate stakeholders, has today moved to the top of the agenda. Investors are making net-zero commitments, regulators are developing reporting standards, governments are passing laws targeting emissions, employees are demanding action, and tenants have started demanding more sustainable buildings. At the same time, the accelerating physical consequences of a changing climate are becoming more pronounced as communities face storms, floods, fires, extreme heat, and other risks.
The building and construction sector in India contributes 9% to the country’s GDP and employs more than 50 million people. According to RMI, India’s buildings are responsible for approximately 25% of total CO2 emissions, and nearly 33% of its energy consumption. The building sector is also one of the largest consumers of natural resources. Henceforth, it also has a large and growing carbon footprint, according to IEA’s Stated Policies Scenario in India Energy Outlook 2021, India’s CO2 emissions from existing and new buildings are projected to grow from 194 MtCO2 in 2020 to 245 MtCO2 in 2040. Given its considerable significance as a contributor to GHG emissions, working towards sustainability specifically in the building sector becomes crucial.