The construction industry is facing increasing challenges due to climate change and the effort to reach net-zero greenhouse gas emissions, according to a new report by Marsh and Guy Carpenter, both businesses of Marsh McLennan.
The report, Future of Construction: A Global Forecast for 2030, was written with Oxford Economics. It discusses the future of the construction sector as it recovers from the effects of the COVID-19 pandemic, as well as the key drivers shaping the industry’s future over the next decade.
Global construction output is expected to grow by 6.6% in 2021 and 42% by 2030, driven by government stimulus and the demand for residential construction, according to the report. However, as the sector grows, so does the risk of greater pollution and waste.