Feb 8, 20222 min
The development and operation of the businesses worldwide are being increasingly shaped by the Environmental, Social & Governance (ESG) metrics. Industries have been challenged more-and-more by regulatory, reporting, and customer demands towards the impact of their operations in multiple dimensions. The construction industry is no exemption to this. ESG refers to the method of evaluating companies on the basis of their commitment to sustainability, which includes factors such as a company’s contribution towards combating global warming, reducing carbon emission, protecting human rights, adhering to the health and safety of the workers and the like.
Being criticized since ages for having a massive impact on the environment, it becomes pertinent for the construction industry to ensure and enhance its ESG compliances so as to remove the age old stigma against the industry and drive towards making it an eco-friendly one.
This blog is an attempt to showcase how viAct’s AI-powered Construction Management System enables the construction industry to ensure and enhance ESG compliances.
Why adhering to ESG criteria important for the Construction Industry?
The construction industry has always been criticized as non-eco-friendly industry!
Global Data's ESG survey revealed that ‘health and safety’ is the top ESG issue of concern in construction industry
Statistics show that 35% of world’s industrial waste is solely generated by the construction industry
According to studies, 32% of world’s natural resources are used by the construction industry uses
Studies also reveal that, the built environment generates 30% of the total greenhouse gas emission and 40% of energy use
According to International Energy Agency, 39% of global energy-related carbon emissions are attributed to buildings
Studies have revealed that construction of buildings can be responsible for release of toxic dusts like hardwood or silica having carcinogenic properties.
How does viAct help the construction industry to enhance the ESG criterion?
viAct has designed 30+ AI and computer vision enabled modules that helps in ensuring the safety, productivity and environmental compliances in the jobsite, in turn helping the governments and construction companies to achieve higher ESG preposition by transforming the traditional non-eco-friendly construction industry into an environmentally sustainable, socially accountable and digitally smarter one.
The table below depicts how construction companies can enhance their ESG criterion with viAct.
Who can be benefitted from viAct’s Environmental & Safety Modules?
Generally, achieving ESG standards is the concern of top echelons of the construction industry, thus, the following construction stakeholders will be directly benefitted from viAct’s Environmental & Safety Modules:
Owners
Contractors & Sub-Contractors
Builders
Apart from these, the other stakeholders who can be indirectly benefitted include the Safety Officers and the workers in the construction industry.
What are the benefits of using viAct’s AI Modules to enhance ESG?
Want better ESG compliance in your construction project?