Would you build your own house using green and low-carbon materials?
The world is rapidly urbanizing, and by 2050, it's projected that 66% of the global population will live in cities. That's a staggering number, and it highlights the importance of investing in nature-based climate technology.
Consider the impact that the built environment has on the air we breathe, the temperature we experience, and the environment we live in. As cities continue to expand, we're seeing a decline in green spaces and an increase in concrete and steel structures.
But what if, instead of being surrounded by concrete jungles, we walked into clean cities filled with breathing buildings, zooming EVs, and lush greenery from living walls and green roofs? That's the power of biophilic design - incorporating elements of nature into the built environment to improve not just our well-being, but also the economy.
The numbers speak for themselves. Green buildings generated nearly 3.9 million jobs and $190 billion in labor earnings in 2018. By 2028, the green building market is projected to reach $248.8 billion.
And policy is driving more demand. A study by the Urban Land Institute found that over 60 cities worldwide have mandatory green roof policies, with more to come. By investing in nature-based solutions now, you'll be ahead of the game and poised to capitalize on this trend.
But how exactly can you invest in nature-based solutions? Let's take a look at NYC, where green roof mandates have tax incentives for property owners and developers who install green roofs. The New York State Energy Research and Development Authority (NYSERDA) offers a Green Roof Tax Abatement program, which provides a property tax abatement of up to $4.50 per square foot for the installation of a green roof. This further reduces the payback period for green roof installations and increases the return on investment (ROI) for property owners.
It's not just about the economic benefits and policy mandates. Nature-based climate tech play a crucial role in addressing the effects of climate change. A study by the University of Cambridge found that living walls can improve air quality by up to 30% and reduce the urban heat island effect by up to 10%. Green roofs alone can offset as much as 5.4% of global gas emission, reduce 40% of building energy consumption, and improve stormwater management by 80%.
So, the question we must ask ourselves is, are we ready to take the necessary steps to revolutionize the way we build and live in our cities? The choice is ours.