How can the cement and construction industry achieve net zero by 2050? Here are the key takeaways from a roundtable discussion McKinsey hosted at the COP26 Climate Change Conference.
The built environment—that is, the cement and construction value chain—accounts for approximately 25 percent of global CO2 emissions. Reaching net zero by 20501 will require the buildings and construction industry to decarbonize three times faster over the next 30 years versus the previous 30. Companies from across the ecosystem have committed to decarbonization, but no one player can achieve this goal alone. At the COP26 Climate Change Conference, in Glasgow, Scotland, McKinsey hosted an interactive session that brought together global property owners, contractors, materials suppliers, investors, equipment manufacturers, and disruptors to define the path forward, with a focus on the following questions:
- What actions can the industry take now?
- How can stakeholders across the value chain collaborate to succeed?
This article was originally posted by Tony Hansen, Focko Imhorst, Anna Moore, and Sebastian Reiter for McKinsey & Company. Please read the full article here