Circular economy in the real estate sector

Ashish Gupta and Piyush Tiwari

Chapter 7 in A Research Agenda for Real Estate, 2022, pp 121-137 from Edward Elgar Publishing

Abstract: The exploitation of nature for the economic growth and resource consumptions by a growing population and the emerging middle class has resulted in the fast depletion of natural resources, global warming, piles of waste in landfills and at the bottom of our oceans. Buildings and construction consume 35% of the global energy and contribute 38% of the CO2 emission. The linear model of development of take-use-sale-dispose has led us to the present situation. According to a study by Accenture, the transition from a linear to a circular economy (CE) presents a $4.5 trillion opportunity by 2030 to convert waste into wealth. In another estimate IFC, estimated by 2030, investment opportunity of $24.7 trillion in green buildings. This chapter examines the circular business models and the significance of CE for the real estate and construction sector. It further evaluates the sources of waste, opportunities and challenges across the life cycle of a real estate project in the new world of CE.

Keywords: Economics and Finance; Urban and Regional Studies (search for similar items in EconPapers)
Date: 2022
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