The world is confronted with many challenges that have the potential to severely impact well-being and happiness of our societies. Climate change, resource scarcity and fast urbanization are among the most severe of these challenges. The Infrastructure and Urban Development (IU) industry is an important player when it comes to solving these challenges and shaping a desirable future for our planet. 30% of global greenhouse gas emissions, which are a core driver of climate change, are attributable to facilities constructed by the industry. At the same time the IU industry is the largest consumer of raw materials further depleting scarce resources. Around 200,000 people migrating to urban areas daily are dependent on the provision of affordable housing and infrastructure provided by the IU industry.
The construction industry plays a key role for governments in both developed and developing economies. The sector creates new jobs, drives economic growth, and provides solutions to address social, climate and energy challenges. The construction industry has important linkages with other sectors, so that its impact on GDP and economic development goes well beyond the direct contribution of construction activities.
The World Economic Forum established a three year project on Shaping the Future of Construction. Since then, the initiative has successfully served as a platform for Forum partner firms, governments, academia, and civil society to shape the industry agenda and to find innovative solutions to support the industry’s transformation and thereby achieve higher productivity, greater sustainability and enhanced affordability. For more information on the future of construction please visit this link.