39% of the construction industry is responsible for carbon emissions globally
The environmental agenda is a high priority across all industries, but according to the World Green Building Council the construction industry is responsible for 39% of carbon emissions globally, making it a critical priority for contractors.1 As much as 50% of the whole life carbon emissions of a building come from the manufacturing materials and the construction process. To put things into perspective, cement accounts for 8% of the world’s C02 emissions.2
Here are some of the highlights discussed at our 2022 Construction Risk Management Conference to help guide organizations in refining their ESG strategies:
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Climate change remains the world’s greatest challenge and the effects are already being felt in numerous ways that are having profound impacts on the construction industry as well as society globally. Sustainability isn’t just about building materials, factors such as location and design have a big part to play too. Ensuring a project is resilient against fire, flood, escape of water, storm as well as future proofed for changing climate risks is essential. Recent years have seen heightened natural catastrophes, and a rising trend in secondary perils, including wildfires, floods, and hailstorms.
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Understanding what complies with standards is a challenging process. Therefore, knowing how to measure your results and what goals to set is a critical part of an organization’s ESG approach. There is no doubt the ESG landscape is complex as things evolve and regulations change, but the reporting programs for companies should remain the same, consisting of four pillars. This ESG strategy also drives innovation and is good for business.
Four pillars
Effective organizations use data and analytics to influence decisions. For example, climate, DEI, health, and wellbeing analytics help leaders predict and measure the impact of decisions, while identifying specific risks and opportunities.
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Leaders have an opportunity to link ESG goals to managing long-term performance and risks. Organizations should take time to understand and quantify the environmental impact of their projects and actions. This approach nurtures cultures where all employees can flourish and contribute. This includes putting into place appropriate decision frameworks and processes for senior management to measure and assess the long-term impact of projects in the early days. In addition, a proactive approach to managing ESG risks can be beneficial to improving core business and operating strategies.
1 https://worldgbc.org/news-media/WorldGBC-embodied-carbon-report-published
2 https://www.bbc.co.uk/news/science-environment-58878192
Bill Creedon is the Global Head of Construction for Willis. During his time in the industry, Bill has held a variety of roles ranging from client management to local and global leadership. Over the years, Bill has gained experience with a broad spectrum of heavy civil and building contractors. Bill also works closely with the Graduate Development Program at Willis dedicated to fostering young talent within the company.
Relevant Experience/Specialization
Joanne has worked in the insurance industry for over 20 years. Since joining Willis in 2004 she has focussed on the infrastructure sector providing advisory, due diligence and insurance placement services throughout the project lifecycle through bid, construction and operation.
Joanne has supported PPP and major infrastructure projects in a wide variety of territories. She has worked for all project parties including Authority, Lenders, Project Co, Equity providers, Contractors and Operators, using this strong understanding of the motivations of the many stakeholders to a major infrastructure project to build a collaborative working environment and develop effective risk allocation and transfer solutions.
Joanne led development of our Global Infrastructure proposition, to deliver a strategic approach to major infrastructure projects, promoting excellence and a unified approach to bring optimal risk solutions to our clients in the infrastructure space.
Joanne leads our European Construction Team which is comprised of over 100 construction experts.
Education and Credentials
Associate of the Chartered Insurance Institute (ACII)
Chartered Insurance Broker
International Diploma in Risk Management (MIRM)
BA Insurance and European Studies
