Circularity in the Built Environment 2024

Introduction The building and construction sector consumes approximately 40% of global raw materials and contributes almost 40% of energy-related CO2 emissions.6 With the global population projected to reach nearly 10 billion by 2050,7 demand for construction materials is expected to surge, depleting available resources. Overall global resource use has tripled over the past 50 years,8 and use of raw materials with commensurate CO2 emissions could double by 2060 in some regions.9In part due to escalating emissions from the construction sector, the world is not on track to achieve the goal enshrined in the Paris Agreement to limit warming to well below 2°C.10 Therefore, it is imperative that industry stakeholders act now to adopt strategies to reduce carbon emissions from the built environment.The retrofit market is projected to grow by 8% annually until 2050, with materials dominating the spend. Circularity in the Built Environment: Unlocking Opportunities in Retrofits 5