Buildings at the forefront of the COP28 programme
The build environment / Buildings sector is at the forefront of the COP28. The 2-week thematic programme of the COP28 now includes a "Multilevel Action, Urbanization and Built Environment/Transport" Day on 6 December 2023.
Buildings are responsible for ca. 37% of energy related CO2 emissions, and 34% of final energy use, as well as a large share of extracted materials. Most of our buildings standing in 2050, mostly in urban areas, have not yet even been built.
This means transforming buildings has enormous potential for climate action (mitigation and adaptation). Without taking action, building and construction activities will further exacerbate environmental damage. Indeed, the Global Buildings Climate Tracker in the latest Global Status Report for Buildings and Construction indicates the gap between where we need to be and where we are is widening.
The buildings and construction sector’s immense potential for transformational change is underlined by the IPCC: Building sector mitigation policies can reduce greenhouse gas emissions by 80 to 90%, and lift up to 2.8 billion people out of energy poverty.The sector is also key for our economy: It is responsible for ca. 7% of global employment or more than 200 million jobs, and accounting for 11-13% of global GDP. Green buildings represent an enormous low-carbon investment opportunity in emerging markets of US$24.7 trillion by 2030.
In addition, the COP28 Presidency is calling on Parties and observers to commit - including in Nationally Determined Contributions (NDCs) and National Adaptation Plans (NAPs) - to the multilevel partnership required for critical areas such as buildings, transport, waste, water, and energy.Stay tuned for more updates.