New guidelines to manage climate risk recently unveiled by the European Union Commission signals a pivotal moment for the construction industry continent, according to Tina Paillet, President of the Royal Institution of Chartered Surveyors, speaking at Mipim 2024 in Cannes.
Paillet delivered a keynote on "Funding The Future" and outlined the critical need for adaptation in the construction sector to mitigate climate risks, pointing out that a staggering 85% of Europe's buildings are expected to still be in use by 2050, necessitating a significant transition towards energy efficiency. She estimated the cost of achieving net-zero targets at an eye-watering $13 trillion, underscoring the essential investments in green cement, steel, and building refurbishments.
Paillet championed the circular economy, envisioning a robust industry emerging from reusing materials, which could play a crucial role in the sustainable transformation of the built environment.