The real estate debate has long been contentious, with one side arguing that it engulfs our land and stifles our cities, while the opposing view sees it as a pivotal economic driver. KPMG's study delves into this discourse, offering intriguing insights and suggestions. Yet, for this piece, let's narrow our focus to India, where some compelling highlights emerge.
Before delving into those specifics, it's essential to note that India stands as the third-largest emitter of GHG gases, following China and the USA. However, this ranking might be misleading when considering per capita emissions, where India falls significantly lower than developed nations. Yet, understanding the potential impact of any change becomes critical, given the substantial scale of these numbers for India and the world at large.
Considering these facts, let's examine the statistics and the challenges ahead:
- Studies reveal that the real estate sector contributes a staggering 40% of the world's CO2 emissions.
- The projected doubling of total built floor area by 2060 raises concerns.
- The industry still heavily relies on fossil fuels.
- Upgrading 16-26% of aging city buildings sustainably remains a viable option.
These figures offer a profound perspective on the real estate's impact, extending beyond mere economics and space to encompass the well-being of us all. While the real estate industry is undeniably entrenched, reshaping its practices becomes equally imperative.
We urge you to explore the report available here for further insights.