ABSTRACT
The construction industry is one of the most dynamic and responsive industries with its remarkable contribution to sustainable economic development. Globally, the construction industry is under pressure by constantly changing to fit the construction business needs in executing operations. The effect of COVID-19 on the global economy has increased the pressure on this vital industry. The new era in construction, which is expected to benefit the broader society in terms of reducing costs, improving the use of scarce materials, and reducing the adverse impact of environmental effects, is under threat. Dealing with this threat will require transformation in certain areas of the industry. Construction workers are known to suffer physical and mental fatigue, psychological health problems, and high turnover rates. Job demand stresses and organisational factors are significant causes of job burnout. Safety and health at work are essential to sustainable development. Circular economy and Industry 4.0 have the potential to radically transform the contemporary construction supply chain in the 21st century. This chapter introduces these and many more transformational areas and sets the tone for the succeeding chapters in this very important book. © 2022 Nova Science Publishers, Inc.
ABSTRACT
Purpose: The majority of the literature on green buildings in Ghana focuses on environmental benefits, innovative designs, construction technologies and project management techniques. However, little is known about how such facilities are financed. This issue creates potential knowledge gaps, one of which this study aims to address. This study examines the key drivers for green building project financing in Ghana. Design/methodology/approach: The study uses an explanatory sequential design with an initial quantitative instrument phase, followed by a qualitative data collection phase. An extensive critical comparative review of the literature resulted in the identification of eight potential drivers. One hundred and twenty-seven questionnaire responses based upon these drivers from the Ghanaian construction industry were received. Data were coded with SPSS v22, analysed descriptively (mean, standard deviation and standard error) and via inferential analysis (One Way ANOVA and One-Sample t-Test). These data were then validated through semi-structured interviews with ten industry professionals within the Ghana Green Building Council. Data obtained from the semi-structured validation interviews were analysed through the side-by-side comparison of the qualitative data with the quantitative data. Findings: Though all eight drivers are important, the five key drivers for the Ghanian construction industry were identified as, in order of importance, “high return on investment”, “emerging business opportunity”, “ethical investment”, “conservation of resources” and “mandatory regulations, standards, and policies”. The interviewees agreed to and confirmed the importance of these identified drivers for green building project financing from validating the survey's key findings. Research limitations/implications: Key limitations of this study are the restrictions regarding the geographical location of the collected data (i.e. Kumasi and Accra);timing of the study and sample size (i.e. the COVID-19 pandemic making it difficult to obtain adequate data). Practical implications: Though this study was conducted in Ghana, its implications could be useful to researchers, policymakers, stakeholders and practitioners in wider sub-Saharan Africa. For instance, financial institutions can invest in green buildings to expand their green construction and mortgage finance products to build higher value and lower risk portfolios. The findings from this study can provide investors with the enhanced certainty needed to help guide and inform their investment decisions, i.e. what to invest in, and when, by how much and how a scheme being “green” may influence their rate of return. Also, for building developers, it will give them a clearer understanding of the business case for green buildings and how to differentiate themselves in the market to grow their businesses. Originality/value: This study's findings provide insights into an under-investigated topic in Ghana and offer new and additional information and insights to the current state-of-the-art on the factors that drive green building project financing. © 2021, Emerald Publishing Limited.
ABSTRACT
Purpose With its impact already felt, the construction industry worldwide is gradually reviving following the lifting up of lockdowns amid the COVID-19 pandemic. Though some articles have been written regarding its impact on the construction industry in other countries, much is yet to be known concerning the current impact in Ghana. This study aims to examine the impact of COVID-19 on Ghana's construction industry and assess how construction companies are contributing to the fight against COVID-19. Design/methodology/approach Semi-structured interviews with nine key professionals working with D1K1 firms currently working on projects of almost similar sizes within the confines of a reputable tertiary institution in Ghana were conducted over a span of three weeks. Thematic analysis was conducted with Nvivo 12 Pro Application software. Findings From the findings, the major impact includes: a decrease in work rate, delays in payments and an increase in the cost of materials arising from border closure. On the measures by construction companies in contributing to the fight against the pandemic, findings indicated: educating the workforce on the virus, the provision of PPEs, regular and effective checks on entry and exit from the site. Practical implications The study is significant, as knowledge of the impact posed by the pandemic will provide some idea of the measures to put in place to ensure the gradual to full recovery of the industry. Originality/value The originality of this study lies in the fact that it is a pioneering study on the impact of COVID-19 on the Ghanaian construction industry.