NTU Decarbonisation Forum | Buildings

Building with glass windows surrounded by trees

The buildings industry, responsible for approximately 37% of global CO2 emissions, presents a critical and urgent focus for decarbonisation efforts. This contribution is broken down into 28% operational CO2 emissions and 11% embodied CO2 from manufacturing building materials and construction. The need to consider the carbon footprint of buildings throughout their entire lifecycle, from upfront carbon emissions to those from decommissioning and demolition, is pressing.

In ASEAN, the buildings sector currently contributes 23% of regional emissions, underscoring the urgent need for action both locally and globally. The projected increases in new building stock in Asia, coupled with the expected 60% increase in building energy consumption by 2030 and 120% by 2040, further emphasise the pressing nature of the situation. With the rapid growth in buildings, energy consumption, and rising living standards, emissions from the built environment in the region are anticipated to increase significantly, making immediate action imperative.

To address the challenge of reducing greenhouse gas emissions, this playbook outlines practical steps for ASEAN firms in the buildings sector, organised into three sections: 

  • What solutions exist today to help decarbonise the building sector?
  • What obstacles prevent ASEAN firms from adopting these solutions?
  • What are the recommendations for how ASEAN firms and other stakeholders can collaborate to overcome these obstacles?

Hosted by the Centre for Sustainable Finance Innovation (CSFI), the NTU Decarbonisation Forum featured multi-stakeholder dialogues that bring together investors, industry professionals, and regulators to discuss the decarbonisation of textiles and apparel, and buildings sectors in ASEAN.

Dr. Matthew Dearth is an Associate Professor (Practice) of Sustainable Finance at Nanyang Technological University (NTU).  Before transitioning to academia full-time, Dr. Dearth was Managing Director at Silvercrest Asset Management (Singapore) and head of the Singapore office. His 30+ years of finance industry experience also includes leadership roles at Marshall Wace, Goldman Sachs, and Booz Allen & Hamilton.

Karen Taubenberger is an MBA student and Research Assistant at Nanyang Technological University (NTU). As a Research Assistant, she has conducted research in decarbonisation of hard-to-abate industries like textiles & apparel and built environment.