Sustainability milestone for construction industry

Master Builders Australia has released its inaugural annual report detailing progress towards its Building and Construction Industry Sustainability Goals 2050.

The report highlighted significant strides.

“While there is huge demand for building and construction work, including the commitment of governments to build 1.2 million homes over the next five years, the industry has been battling significant headwinds,” Master Builders CEO Denita Wawn (pictured above) said.

See LinkedIn post here.

Addressing key challenges

The industry has faced numerous challenges over the past year, including high inflation, chronic labour shortages, higher than anticipated interest rates, and new building regulations.

These obstacles have led to a reduction in private investment, a decline in productivity, and higher-than-average insolvencies.

“Mindful of the practicalities of what is happening in the industry, Master Builders is moving at a realistic pace, leading transformation for the long-term benefit of the industry and Australia’s built environment,” Wawn said.

Key measures and actions

The Master Builders report outlined several key measures and actions aimed at achieving the 2050 sustainability goals:

• Net-zero built environment: Collaborating with the government and the building supply chain to support the goal of a net-zero built environment.
• Building resilience reforms: Participating in reforms to building regulations on priority issues such as waterproofing and bushfires.
• Female participation: Increasing female participation through the ongoing work of the Women Building Australia program and advocating for greater government support.
• Digital tools partnership: Partnering with a tech platform to provide essential digital contract management and payment tools.
• Safety promotion: Working with the Office of the Federal Safety Commission to promote better safety outcomes on building sites.

Read the Master Builders annual report.

Get the hottest and freshest mortgage news delivered right into your inbox. Subscribe now to our FREE daily newsletter.