With COP27 being held in Egypt, a non-Western country, poorer and adversely impacted societies will demand a stronger say in negotiations. There is increased pressure on the rich to dramatically reduce their emissions, provide reparation for past damage and exploitation, and assist poorer nations to improve social livelihoods. Such a new world order will require that global inequity in resource consumption be placed in the spotlight, with fair shares demanded for all. Calling for drastic and urgent action and a paradigm shift to contain warming to 1.5°C, the 2022 IPCC report <em>Climate Change 2022</em> emphasised the need for ‘sufficiency’ to avoid demand for resources while providing wellbeing for all within planetary limits. However, responses to date have been grossly inadequate, amid continued economic growth and policies based upon resource efficiency, renewables and a circular economy. This is most evident in the construction and property sectors, where high rates of new construction continue in both the Global North and South, while claiming this is green and carbon neutral. Bolder, more ambitious policies are proposed that seek to rebalance construction to suit needs, not wants, and especially to restrain the excesses of the property industry driven by financialisation. <strong><em><br /></em></strong> <strong><em>Policy relevance</em></strong> <strong><em></em></strong>Current policies and approaches are inadequate to make the required savings in carbon and resource consumption. While embodied carbon is increasingly recognised, this largely applies at the materials level and to carbon intensity metrics, which may lead to around 50–60% reduction. However, building less (<em>e.g.</em> by adapting existing stock) or not building at all lead to significantly greater savings of greenhouse gases and resources. To meet climate and other targets, policies and approaches are required that question the global demand for new construction within high- and medium-income societies, rebalance such construction and resource consumption, restrain building size and floor area, and invoke ‘sufficiency’ metrics. Maximum carbon reduction and improved resource allocation may be achieved by carbon budgets and (radically) questioning the need for certain building types, especially when digitalisation enables work from home. Means of diverting investment for social purposes, while integrating such policies in the planning system, are examined.
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