Emerging markets

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Emerging markets could realize greatest benefits of green buildings

a skyscraper in Istanbul, Turkey
The Renaissance Tower, winner of the U.S. Green Building Council's LEED Platinum Certificate, in Istanbul, Turkey. Photo: Serhat Cagdas/Anadolu Agency/Getty Images

While countries like the U.S. and EU member states have to backpedal their heavy carbon emissions, emerging markets could still leapfrog the most carbon-intensive approaches to urbanization.

Why it matters: 60% of the world’s cities have yet to be built. Since buildings and building construction account for 36% of final global energy consumption and nearly 40% of total CO2 emissions, opting for green buildings in these new and more dense urban spaces would help meet global climate goals while sustaining economic growth.

Turkey's economy is getting worse

Data: Factset; Chart: Axios Visuals