The construction industry remains horribly climate-unfriendly
Governments are falling well short in their efforts to turn things around
Covid-induced lockdowns may have upended the world of work, but they have not killed the skyscraper. Even as workers stay home to avoid the commute, cities’ penchant for these concrete marvels of engineering continues unabated. In midtown Manhattan, JPMorgan Chase has knocked down its old headquarters in favour of a new glass tower that will rise 18 storeys higher. Across the city, more than a dozen supertall structures—which rise higher than 300m—are in the works. In London, where gleaming new landmarks are given irreverent nicknames such as “Walkie Talkie” or “The Gherkin”, more than 200 towers have transformed the skyline since 2009. The construction frenzy is not limited to big cities. By one estimate, the planet will add floor space the size of New York City every month until 2060.
This article appeared in the Finance & economics section of the print edition under the headline “A tall order”
Finance & economics June 18th 2022
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