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Global Green Tech Investments for Climate Change

Green public policy is about the commitment to sustainability and environmental management. Having a formal policy shows the world that managing environmental issues is a high priority to address climate change.

The global public and private investment levels in green urban infrastructure are expected to increase from $606 billion in 2022 to $978 billion in 2030, according to the latest worldwide market study by ABI Research.

Growth will evolve across a wide range of Green assets, including city parks, urban forests, blue spaces such as ponds and lakes, rooftop gardens, green walls and buildings, and pedestrianized green streets as part of new urban concepts.

Green Technology Market Development

Example projects include the Green makeover of the Champs Élysées in Paris for the 2024 Olympics (€250 million), the redevelopment of the former Athens International Airport into the Metropolitan Park and Coastal Front (€8 billion), and the NEOM Regreening and Saudi Green Initiatives ($187 billion).

Other examples include Madrid's Nuevo Norte Urban Forest, Melbourne's Green Infrastructure Plan, Bangkok's Benchakitti Forest Park (covering an area of 0.7 km), and Boston's Green New Deal.

"The single most important benefit of green urban infrastructure is its role in making cities more resilient. Resilient against the impact of climate change in terms of mitigating the effects of flooding, heat islands, drought, and other natural disasters on urban living," said Dominique Bonte, vice president at ABI Research.

Green infrastructure offers the combined advantage of functioning as natural reservoirs for excess stormwater and excessive heat due to its innate water absorption and heat storage capabilities. Both substantially reduce flooding of vulnerable inhabited areas and the number and severity of heat islands.

Green Urban Infrastructure benefits include:

  • Urban decarbonization, net zero cities, and urban circularity.
  • Improved air quality and reduced noise pollution.
  • Increased urban biodiversity; bringing nature back to cities.
  • Improved urban living quality, health, and mental well-being.
  • Positive impact on urban economic development.

From a technology perspective, digital twins are the ultimate tool for city governments and developers to design, model, plan, simulate, and manage Green urban infrastructure.

Detailed information about trees and other Green assets can be captured through ground-based and airborne LiDAR sensor scanning systems often complemented by satellite imagery.

Artificial Intelligence (AI)-based recognition capabilities allow building complex models featuring various metrics, including predictive data about expected tree lifetimes.

Outlook for Green Technology Applications Growth

According to the ABI assessment, digital twin modeling and simulation use cases include the identification of current and future heat islands, the assessment of vulnerable populations, the percentage of permeable surface and vegetation levels, the water retention potential of green rooftops, detailed tree analytics, and water run-off and carbon storage metrics.

That said, I believe that public and private sector organizations can enhance their substantive Green policy and their carbon reduction plans by reducing their employee's avoidable commuting to urban office buildings via the adoption of flexible working models.

Moreover, a distributed workforce that is enabled by superior digital workspace solutions can significantly improve the online employee experience, increase productivity, and promote retention.

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