Building a sustainable future

This article discusses the urgent need for investment in the affordable housing sector, given the current global housing crisis. Over one billion people currently live in slums, a number projected to double by 2030, and an additional 1.6 billion live in inadequate housing conditions. The article emphasises that more housing will need to be constructed between now and 2050 that has been built in the past 6,000 years. However, the challenge extends beyond just physical construction and demands innovative approaches to ensure widespread access to environmentally friendly, resilient, and affordable homes. While public policy will play a vital role in addressing this issue, the article highlights the significant $16 trillion financing gap that cannot be bridged without substantial involvement from the private sector. Convincing private entities of the feasibility and profitability of investing in green, affordable housing is essential. Fortunately, the article indicates that progress is being made in this direction.

The article also explores the idea of housing as a "global public good," emphasising benefits for everyone across the world. Policymakers are encouraged to incentivise developers to embrace green building practices by providing subsidies in emerging markets, where poor construction contributes significantly to carbon emissions. Examples are cited, such as Colombia introducing tax incentives for green building and affordable housing, and India's efforts to increase housing finance for low-income populations while promoting green, affordable homes.

Abstract based directly on source.