Disclaimer: The views expressed in this article are those of the author and do not necessarily reflect the views of the Economic Times – ET Edge Insights, its management, or its members

WP5 – Built Environment final-page-001

Today our developing world is witnessing a drastic growth in the urban space. Marvelous buildings, highways, offices, entertainment and green areas everything entails the built environment. Infrastructure projects play a significant role in the present-day economy. It helps people thrive and demonstrates national pride. However, built environment is also responsible for 40% of world’s carbon emissions and consumes about 50% of global natural resources and 30% of final energy.

Creating sustainable built environment needs impetus from the authorities and the people alike. Community behavior and people’s lifestyles can drive key transformation of built environment. Sustainable built environment is also people-friendly, helping in energy independence, water and waste management and offering strategic solutions.

One of the most significant factors in transforming the built environment is to shift from the “Item rate method of contracting” to “Design and build mode of contracting”. The current rate based governing norms consist of many loopholes that allow increase in project cost, cause considerable delay in project completion and make way for corruption. Shifting to design and build mode will eliminate these problems and also ensures better efficiency in every aspect.

A complete transformation of built environment is only possible by adopting a holistic approach with maximum focus on the densely populated areas. Including leisure zones, green spaces, transport, health and welfare infrastructure is a must for driving real change. Aiming to create sustainable built environment paves a way for innovative government-business collaboration and can give rise to new business models. It has the potential to bring great benefits for businesses and communities while accelerating the transition towards sustainability.

Get your copy of this exclusive report to discover more exciting details about built environment transformation.

Disclaimer: The views expressed in this article are those of the author and do not necessarily reflect the views of the Economic Times – ET Edge Insights, its management, or its members

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