Heat Is on As World Bldg Stock Grows

NEW YORK CITY-How the global footprint of real estate assets will impact the environment is a concern that appears to be growing along with the worldwide building stock. In a newly released report by Boulder, CO-based Pike Research, the worldwide stock of brick-and-mortar is set to increase 25% by 2021, with much of this growth driven by Asian countries.

In fact, according to Pike, in the next nine years, global building inventory—both residential and commercial—will balloon from 1.6 trillion square feet to 2 trillion. “Commercial and residential buildings are responsible for 49% of the world’s energy consumption and 47% of global greenhouse gas emissions,” says senior research analyst Eric Bloom.