Stakeholders’ perceptions of and willingness to pay for circular economy in the construction sector
Adopting Circular Economy practices in the construction industry can help reduce greenhouse gas emissions. However, many barriers exist to adoption, and current perceptions of and willingness to pay for circularity have yet to be quantified. This study seeks to understand the various perceptions of...
| Main Authors: | , , , , , |
|---|---|
| Other Authors: | |
| Format: | Article |
| Language: | English |
| Published: |
Springer Science and Business Media LLC
2025
|
| Online Access: | https://hdl.handle.net/1721.1/158151 |
| _version_ | 1824458416041492480 |
|---|---|
| author | Berglund-Brown, Juliana Pandey, Akrisht Duarte, Fabio Ganitsky, Raquel Kirchain, Randy Zheng, Siqi |
| author2 | Massachusetts Institute of Technology. School of Architecture and Planning |
| author_facet | Massachusetts Institute of Technology. School of Architecture and Planning Berglund-Brown, Juliana Pandey, Akrisht Duarte, Fabio Ganitsky, Raquel Kirchain, Randy Zheng, Siqi |
| author_sort | Berglund-Brown, Juliana |
| collection | MIT |
| description | Adopting Circular Economy practices in the construction industry can help reduce greenhouse gas emissions. However, many barriers exist to adoption, and current perceptions of and willingness to pay for circularity have yet to be quantified. This study seeks to understand the various perceptions of circularity in the construction industry, characterize uncertainties and risks, and identify economic incentives and opportunities that could accelerate circular adoption via an industry survey of three stakeholder groups. 58 stakeholders filled out part of the survey, and 42 stakeholders completed the majority of questions. Real estate developers are willing to pay an average premium of 10% for construction costs if there’s a minimum embodied carbon reduction of 53%. Design and construction professionals and material suppliers were also surveyed. Reasons for adopting circular practices were primarily driven by client, design team, and net zero goals. The results of this survey begin to characterize the economic landscape of what is needed for a circular transition in the built environment. |
| first_indexed | 2025-02-19T04:25:32Z |
| format | Article |
| id | mit-1721.1/158151 |
| institution | Massachusetts Institute of Technology |
| language | English |
| last_indexed | 2025-02-19T04:25:32Z |
| publishDate | 2025 |
| publisher | Springer Science and Business Media LLC |
| record_format | dspace |
| spelling | mit-1721.1/1581512025-01-31T20:08:50Z Stakeholders’ perceptions of and willingness to pay for circular economy in the construction sector Berglund-Brown, Juliana Pandey, Akrisht Duarte, Fabio Ganitsky, Raquel Kirchain, Randy Zheng, Siqi Massachusetts Institute of Technology. School of Architecture and Planning Senseable City Laboratory Massachusetts Institute of Technology. Department of Urban Studies and Planning Adopting Circular Economy practices in the construction industry can help reduce greenhouse gas emissions. However, many barriers exist to adoption, and current perceptions of and willingness to pay for circularity have yet to be quantified. This study seeks to understand the various perceptions of circularity in the construction industry, characterize uncertainties and risks, and identify economic incentives and opportunities that could accelerate circular adoption via an industry survey of three stakeholder groups. 58 stakeholders filled out part of the survey, and 42 stakeholders completed the majority of questions. Real estate developers are willing to pay an average premium of 10% for construction costs if there’s a minimum embodied carbon reduction of 53%. Design and construction professionals and material suppliers were also surveyed. Reasons for adopting circular practices were primarily driven by client, design team, and net zero goals. The results of this survey begin to characterize the economic landscape of what is needed for a circular transition in the built environment. 2025-01-31T20:08:49Z 2025-01-31T20:08:49Z 2025-01-31T20:00:17Z Article http://purl.org/eprint/type/JournalArticle https://hdl.handle.net/1721.1/158151 Berglund-Brown, J., Pandey, A., Duarte, F. et al. Stakeholders’ perceptions of and willingness to pay for circular economy in the construction sector. npj Urban Sustain 4, 46 (2024). en 10.1038/s42949-024-00182-9 npj Urban Sustainability Creative Commons Attribution-NonCommercial-NoDerivatives https://creativecommons.org/licenses/by-nc-nd/4.0/ application/pdf Springer Science and Business Media LLC Springer Science and Business Media LLC |
| spellingShingle | Berglund-Brown, Juliana Pandey, Akrisht Duarte, Fabio Ganitsky, Raquel Kirchain, Randy Zheng, Siqi Stakeholders’ perceptions of and willingness to pay for circular economy in the construction sector |
| title | Stakeholders’ perceptions of and willingness to pay for circular economy in the construction sector |
| title_full | Stakeholders’ perceptions of and willingness to pay for circular economy in the construction sector |
| title_fullStr | Stakeholders’ perceptions of and willingness to pay for circular economy in the construction sector |
| title_full_unstemmed | Stakeholders’ perceptions of and willingness to pay for circular economy in the construction sector |
| title_short | Stakeholders’ perceptions of and willingness to pay for circular economy in the construction sector |
| title_sort | stakeholders perceptions of and willingness to pay for circular economy in the construction sector |
| url | https://hdl.handle.net/1721.1/158151 |
| work_keys_str_mv | AT berglundbrownjuliana stakeholdersperceptionsofandwillingnesstopayforcirculareconomyintheconstructionsector AT pandeyakrisht stakeholdersperceptionsofandwillingnesstopayforcirculareconomyintheconstructionsector AT duartefabio stakeholdersperceptionsofandwillingnesstopayforcirculareconomyintheconstructionsector AT ganitskyraquel stakeholdersperceptionsofandwillingnesstopayforcirculareconomyintheconstructionsector AT kirchainrandy stakeholdersperceptionsofandwillingnesstopayforcirculareconomyintheconstructionsector AT zhengsiqi stakeholdersperceptionsofandwillingnesstopayforcirculareconomyintheconstructionsector |