IFAWPCA 2023 1.1.11 APK

Infrastructure plays a pivotal role in human subsistence. Massive investment is being made to create infrastructure needed to fulfill human needs and aspirations. Globally, USD 9.2 trillion in infrastructure spending needs to be made every year until 2050. Almost three quarters which goes towards the new construction. Asia and pacific is one of the fastest growing regions with significant investment being made to propel and sustain the growth. The Asian region alone needs USD 1.7 trillion annually exclusively for infrastructure until 2030 to maintain the momentum of economic growth, alleviate poverty, and mitigate climate change risks.

The construction and use of our built environment accounts for about 40% of the global greenhouse gas (GHG) emissions and nearly a third of all waste during the manufacture and procurement of construction material, actual construction, operation and maintenance and demolition and waste processing. It is estimated that GHG emissions will rise to about 37% in 2030 compared to 2005 levels, affecting the natural and the built environment if efficient policies are not implemented.

Climate change will have profound impacts on a broad spectrum of infrastructure systems (water supply, energy, sanitation and drainage, transport and telecommunication), services (including health care and emergency services), the built environment and ecosystem services. Because of the threat posed by climate change, infrastructure must not only meet the need of economic growth, but of sustainable economic growth. The infrastructure must be resilient to the effects of climate change and must minimally emit GHGs.

This brings the opportunities for the industry stakeholders as the positive externalities of green infrastructure and investment for sustainable development is immense. IFC estimates $3.4 trillion climate investment opportunity for South Asia alone in key sectors between 2018 and 2030, if each country will fully meet its nationally determined contributions (NDCs) and relevant sectoral targets and stated policy objectives.

IFAWPCA, with its diverse membership in a rapidly growing region, can definitely add significant value to the development process of its member countries. It can provide a platform for partnership among the member countries to share the knowledge and resources for collective growth and prosperity in a more sustainable way.

IFAWPCA member countries accounts for 29.5% of world population and huge construction market, that has the responsibility, challenges as well as the opportunities for executing the construction projects in sustained manner. It is the high time for IFAWPCA in partnering the fight against climate change actions along with other regional and global organizations. The 46th IFAWPCA Convention with the theme of “Partnering in Sustainable Infrastructure” is expected to give the direction toward contributing to the global agenda of the sustainable development.