Angad Singh Bedi, Managing Director, BCD Group
As the key growth driver for the country’s economy, the infra & construction industry has proactively embraced the basic philosophy of circular economy. Today, sustainability has become a necessity and the industry is taking actions that are aligned with our net-zero objectives.
ESG a key differentiatorIf we see the ongoing projects across the country, we will see that ESG is the key differentiator for value creation. All these are a testament to circular practices that the industry is following.
Across all the segments and asset classes, developers are fully aware of the importance of factors like efficient waste management, reduction of carbon footprints, recycling and reuse, thus creating projects that are compliant and future ready. The robust government policies are also providing the necessary support. In fact, ‘Resource Efficiency and Circular Economy’ is one of the 3 key themes of deliberations at the upcoming G-20 Summit.
The benefits are manifold and, as the industry is exploring these recycled materials more actively these days, it is creating a positive impact on the environment by conserving valuable virgin resources. Besides, by using plastic waste, glass aggregate, old tyres etc. in construction, the industry is facilitating reduction of waste generation.
One of the major advantages is cost reduction. By using alternate resources and materials, the construction industry is saving a lot of costs, while maintaining factors like quality and durability.
Challenges and solutionsAs far as the challenges are concerned, I think a robust supply chain management is the key challenge. Apart from this, we have a long way to go in terms of achieving full technical expertise to bring in global standards of innovation.
From a government level, I think, there’s enough impetus and incentivization. At the moment, awareness and adoption are the two key solutions which will create a foundation for more players to follow the path.