Response of Construction Industry to Carbon Neutrality: A Case Study on Taiwan, Thailand, and Japan

Abstract

Large-scale emissions of greenhouse gases have contributed to global warming, leading to extreme weather events worldwide and posing a serious threat to human survival. Carbon dioxide is the primary greenhouse gas contributing to this phenomenon. The United Nations Intergovernmental Panel on Climate Change has established a global consensus on reducing greenhouse gas emissions to achieve carbon neutrality. This study focused on the construction industry, a major contributor to carbon emissions, by exploring the strategies and business models employed by construction companies in three Asian countries to achieve carbon neutrality. This study aimed to explore the current state of the construction industry in both developed (Japan) and developing (Taiwan and Thailand) countries in Asia by analyzing the following: their progress toward net-zero emissions; the implementation of environmental, social, and governance criteria policy; and the alignment with the United Nations’ Sustainable Development Goals. Specifically, this study examined how the construction industries in these countries promote carbon neutrality when implementing construction projects while simultaneously contributing to environmental and  social welfare to enhance long-term corporate competitiveness. Overall, environmental, social, and governance performance has become a crucial global standard for corporate investment evaluation.