Anuj Puri, Chairman – ANAROCK Property Consultants

Across the globe, 5th June is celebrated as World Environment Day, which is the principal platform of the United Nation to create more awareness and action towards protecting Earth’s environment. This day has a very special significance for the real estate sector

Over the past few decades, fast-paced economic development coupled with rapid population growth and urbanization has led to a rapid depletion of natural resources.

The accelerated rate of resource consumption and rise in greenhouse gases’ emission has resulted in significant environmental degradation. This has, in turn, resulted in climate change, the rise in average temperature and deterioration of air quality.

The building sector is one of the major consumers of natural resources such as water, energy and other raw materials. It generates a large number of wastes and pollutants during the three phases of its life cycle – construction, maintenance and deconstruction.

As per estimates, the construction sector consumes an approximate 25% of water and 35-40% energy, apart from other raw materials. Additionally, it emits 40% of global wastes and 35% of greenhouse gases.