A recent study by the World Economic Forum highlights the potential of circular economy in reducing carbon emissions in the construction sector. The built environment, which currently contributes about 26% of global greenhouse gases, could see a significant decrease in emissions with the adoption of circular economic models.

The white paper titled “The Circularity in the Built Environment: Maximizing CO2 Abatement and Business Opportunities” suggests that these models could reduce the sector’s carbon emissions by 13% by 2030 and 75% by 2050. Furthermore, this approach could lead to substantial economic benefits, potentially generating up to $46 billion in annual net profits by 2030 and increasing to $360 billion by 2050.

The study emphasizes the importance of integrating circular economy principles into building construction and urban planning. By rethinking design, technology, and business models, it is possible to minimize waste, conserve resources, and create economic value. This would involve a sustainable approach to the use of materials like aluminum, cement, glass, gypsum, plastics, and steel.

To demonstrate the effectiveness and scalability of circular economy models in the built environment, the researchers advocate for the implementation of ‘lighthouses’ or pilot projects. These projects are essential in showcasing efficient and greener building practices, paving the way for broader adoption.

The findings of this study underline the urgent need for a shift towards more sustainable practices in the construction sector to combat climate change and promote environmental sustainability.