World falling short of needed sustainable infrastructure investment, says FIDIC
In an address delivered during the Consulting Engineers South Africa (Cesa) Infrastructure Indaba, in Cape Town, on March 19, International Federation of Consulting Engineers (FIDIC) CEO Dr Nelson Ogunshakin said sustainable and resilient practices are being integrated in every facet of projects globally, all in efforts to achieve net zero by 2050.
He highlighted that $139-trillion must be directed towards sustainable infrastructure to bridge the gap and meet net-zero targets.
The world is currently underinvesting by $64-trillion, which means a doubling of infrastructure investment is needed between 2030 and 2050.
Ogunshakin also pointed out the infrastructure investment gap in Africa, with estimates ranging from $68-billion to $108-billion being needed every year.
In response, Cesa CEO Chris Campbell called for more sustainable infrastructure investment in South Africa, as it could be a cornerstone for economic growth and job creation. Only through collaboration between sectors can infrastructure challenges be addressed and sustainable growth fostered, he said.
Cesa president David Leukes added that inclusive infrastructure development must create opportunities for all, especially with South Africa’s high unemployment rate.
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