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Sustainable Construction as a New Normalcy in the EU Action Plan

The European Union is clearly moving toward establishing long-term competitiveness around sustainable, inclusive, innovative and smart business models. To meet the EU's ambitious climate and energy objectives, several strategically significant documents have been developed and published in recent years, including the European Green Deal, the EU Action Plan for Sustainable Finance, and the Circular Economy Action Plan, among others. The key role in attaining these objectives is played by different stakeholders from businesses to public institutions. They all must direct their operations towards more sustainable pursuits since it is base for their competitiveness and long-term survival. As a result, the European Commission has established the EU Taxonomy, a multi-industry classification system for sustainable economic activities that may be used across many sectors. Because of its distinct position, the construction industry (CI) is commonly regarded as hazardous by most stakeholders. As a result, the construction sector suits well into these efforts since it is widely seen to be low in productivity, environmentally harmful for generating rather high total waste, extreme greenhouse gas (GHG) emissions, unplanned material extraction, animal habitat loss, deforestation, unsecured to employees, etc. The primary goal of this paper is to identify and analyze the Taxonomy-covered economic activities that are essential for the construction sector to foster a more holistic view among key decision-makers.

EU Taxonomy, sustainable investments, economic activities, construction sector, green investments

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