Master Builders Australia is today releasing its first annual report on the progress toward its Building and Construction Industry Sustainability Goals 2050.
This report marks an important milestone in the industry's progress toward building a sustainable and resilient future.
These goals seek to identify measures that are likely to affect business performance and develop actions to minimise the risks and/or maximise the opportunities of those material issues through an ESG governance framework.
Each of the eight 2050 goals have a 2030 ambition and a first three-year plan.
"While there is huge demand for building and construction work, including the commitment of governments to build 1.2 million homes over the next five years, the industry has been battling significant headwinds," said Master Builders CEO Denita Wawn.
"Over the last year the industry has grappled with high inflation, chronic labour shortages, higher than anticipated interest rates, compounding changes to industrial relations laws, and new building regulations.
"These challenges have seen a reduction in private investment, an ongoing decline in productivity and higher than average insolvencies.
"Mindful of the practicalities of what is happening in the industry, Master Builders is moving at a realistic pace, leading transformation for the long-term benefit of the industry and Australia's built environment."
Key measures include:
- Working with Government and the building supply chain on changes to support the goal for a net zero built environment.
- Participating in reforms to building regulation on priority building resilience issues such as waterproofing and bushfires.
- Increasing female participation with ongoing work of the Women Building Australia program and advocacy to Government for greater support.
- Partnering with a tech platform to provide much needed digital contract management and payment tools.
- Working with the Office of the Federal Safety Commission to promote better safety outcomes on building sites.
