Could construction firms lose new contracts by failing to demonstrate their alignment with government commitments to keep global warming below 2°C? Are properties with carbon intensive technologies at risk from asset stranding? Will construction companies suffer reputational damage as NGOs and media put the spotlight on sustainability laggards? Will construction companies be hit by future costs from carbon regulation?
To avoid these risks, construction companies need to set science-based targets that reflect the UN Paris climate agreement and carbon reduction plans for countries in which they do business. But only one European construction company out of ten of the largest publicly listed construction and cement companies assessed has set a target which is ambitious enough to achieve the Paris climate agreement to limit global warming to 2°C.