Review: The Economics Landscape for Building Decarbonization

Ali Madadizadeh, Kamran Siddiqui and Amir A. Aliabadi ()
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Ali Madadizadeh: School of Engineering, University of Guelph, Guelph, ON N1G 2W1, Canada
Kamran Siddiqui: Department of Mechanical and Materials Engineering, Western University, London, ON N6A 3K7, Canada
Amir A. Aliabadi: School of Engineering, University of Guelph, Guelph, ON N1G 2W1, Canada

Sustainability, 2024, vol. 16, issue 14, 1-28

Abstract: As efforts to mitigate climate change become increasingly urgent, the need to address the environmental impact of the built environment has gained significant attention. Buildings, as major contributors to Greenhouse Gas (GHG) emissions, have a substantial embodied and operational carbon footprint resulting from their construction materials, practices, and lifetime operation. This paper examines the economic landscape of strategies and policies aimed at reducing the embodied and operational carbon footprint of buildings on a global scale, with specific case studies from various national contexts. It delves into various innovative approaches, including economic analysis techniques, market instruments, market demands, and the role of government incentives to reduce the carbon footprint of buildings. The study highlights the crucial role of government policies, financial incentives, and market forces in promoting sustainable practices and fostering the adoption of low-carbon alternatives. By shedding light on the economic dimensions of reducing the carbon footprint of buildings, this research aims to facilitate informed decision-making by policymakers, engineers, and other stakeholders, ultimately contributing to a more sustainable and climate-resilient built environment.

Keywords: buildings decarbonization; climate change; economic landscape; government programs; market forces (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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