Trackunit report shows sustainability building in construction industry ahead of UN 2030 targets
An in-depth survey of construction professionals by Trackunit shows that the construction industry is becoming increasingly serious about sustainability ahead of UN 2030 targets on emissions reporting.
Trackunit surveyed nearly 13,000 industry professionals for its "Constructing a better future" report, a comprehensive survey sharing the state of sustainability in the construction sector, and how it is dominating their agendas over the next five years.
The research shows that contractors and equipment rental professionals currently prioritize sustainability more than equipment owners and dealers. However, 58 percent of construction professionals as a whole expect sustainability to become important over the next five years compared to just 26 percent who think it will diminish in importance.
There is a similar divide among those who have already implemented sustainability practices in their business, with contractors topping out at 73 percent, followed by dealers and equipment owners at 69 percent and equipment rentals at 64 percent. Over the next five years, 50 percent of construction businesses expect to implement more practices while a further 32 percent will give it consideration.
"What this clearly shows is that construction professionals are already very serious about sustainability and want to do what is right for their business and society as a whole," said Trackunit CEO Soeren Brogaard. "It's not really a surprise that contractors lead the way here given that they are very much at the sharp end of the construction supply chain which exerts significant pressure too."
Customers are increasingly demanding that businesses demonstrate their sustainability practices in ways that are credible and transparent, with 49 percent of global consumers in 10 major economies having paid a premium for products branded as sustainable or socially responsible, according to a study by IBM.
"With regulatory pressures, societal demands for better, cleaner construction practices and the UN's 2030 targets on emissions reporting increasingly dominating agendas of government and businesses, this is only going to move in one direction over the next five years," Brogaard said.
Other findings in the report include a sharp difference between North American and European views on sustainability. More than one-third of North American respondents - 36 percent - say sustainability is now "very important" compared to 25 percent in Europe. That differential narrows marginally when ‘important' is added, at 55 and 46 percent.
"North American companies are leading a revolution in the way we think about sustainability with some significant players in the industry implementing KPI-led goals that specifically put them in line to either match or even beat the UN's 2030 targets on emissions reporting," said Brogaard. "We‘ve' termed this ‘competitive sustainability' and if this really is a phenomenon that is going to tighten its grip on the construction sector, then this could be the single, biggest cultural shift we have ever seen in attitudes towards sustainability."
The report also shows that 57 percent of construction professionals are already spending more on software solutions than was the case in 2021. Brogaard said companies are becoming more interested in how technology can assist them across a variety of areas, including sustainability and emissions reporting.
To access the report click here.
