Engineering and Technology

Stakeholders' perceptions of and willingness to pay for circular economy in the construction sector

J. Berglund-brown, A. Pandey, et al.

This study by Juliana Berglund-Brown and colleagues explores how stakeholders in the construction sector view and are willing to invest in circular economy practices, revealing that developers are open to paying more for significant carbon reduction. Discover the barriers to adoption and the potential of incentives in this transformative approach to the built environment.

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Playback language: English

Index

Abstract

This study investigates stakeholders' perceptions of and willingness to pay for circular economy (CE) practices in the construction sector. A survey of real estate developers, design and construction professionals, and material suppliers reveals that developers are willing to pay a 10% premium for a 53% embodied carbon reduction. The study identifies key barriers to CE adoption, including higher costs, lack of standardized assessment methods, and client disinterest, while also highlighting the potential of incentives to accelerate the transition to a circular built environment.

Publisher

npj Urban Sustainability

Published On

Oct 24, 2024

Authors

Juliana Berglund-Brown, Akrisht Pandey, Fabio Duarte, Raquel Ganitsky, Randy Kirchain, Siqi Zheng

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