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Climate change is a defining and urgent 21st century global challenge which threatens global security, economic prosperity, environmental sustainability, and public health. The United Nations reported earlier this year that the world has only a “brief and rapidly closing window” to act.1 In an effort to address this challenge and prevent these major disruptions, 196 nations have agreed to limit the rise in the average global temperature to 1.5 degrees Celsius above pre-industrial levels and to achieve “net zero” greenhouse gas emissions by mid-century.
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Constrained supply chains and inflation in materials and wages have raised infrastructure project costs 49% since 2020
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