Home / Environment / India Fuels Global Building Boom Amid Climate Slowdown
India Fuels Global Building Boom Amid Climate Slowdown
19 May
Summary
- Global building stock surges, driven by emerging economies like India.
- Construction sector emissions rise, jeopardizing climate goals.
- India champions solar energy and green building initiatives.
Global building floor area expanded by 1.7% in 2024, adding "two Delhis annually," according to a UN Environment Programme report. This growth is largely fueled by emerging economies, with India showing robust expansion.
The building and construction sector now accounts for 37% of global carbon emissions and nearly 50% of material extraction. Operational emissions have risen, contrary to net-zero targets, due to increased floor area and slow retrofitting.
India's construction sector has seen an annual growth rate of 11%, reaching $210 billion. However, embodied emissions from materials like cement and steel remain a critical challenge, especially with booming construction in Asia and Africa.
India is implementing initiatives like the Energy Conservation and Sustainable Building Code and promoting rooftop solar through the PM Surya Ghar scheme. Several green building projects are registered under Indian Green Building Council and GRIHA.
The report urges all G20 nations, including India, to embed comprehensive building-sector strategies into their Nationally Determined Contributions by 2030. Significant investment gaps persist, requiring an additional $3.6 trillion cumulatively by 2030 to align with net-zero pathways.
