Context: The "Global Status Report for Buildings and Construction (Buildings-GSR) 2024" was recently released by UNEP (UN Environment Programme) and GlobalABC (Global Alliance for Buildings and Construction).

About the report

• It offers an annual snapshot of the buildings and construction sector's progress globally, assessing policy, finance, technology, and solutions alignment with the Paris Agreement goals and making recommendations.

Key findings of the report

• The sector accounts for about 21% of Global GHG emissions, with buildings responsible for 34% of global energy demand and 37% of energy and process-related CO2 emissions in 2022.

• Notably, 40% of India's CO2 emissions are attributed to buildings, highlighting the urgent need for action to meet the Paris Agreement goals and achieve net-zero emissions by 2050 by reducing embodied carbon in building materials.

Recommendations

• Improve Building Codes & Policies to achieve net-zero carbon emissions for both new and existing buildings.

• Expand Renewable Energy Use in Buildings to enhance affordability and access.

• Implement Comprehensive Climate Action Roadmaps for the sector, and provide financial incentives for developing energy-efficient buildings to decarbonize the sector.