This report by RBC Climate Action Institute explores how Canada can tap into its rich forestry resources to create a global market for large beams, panels and posts made of engineered wood—potentially replacing concrete and steel or dramatically cutting their use and associated emissions:
- The building sector is the third-most carbon intensive industry in Canada, accounting for 13% of all emissions in 2022, or 92 million tonnes (MT) of CO2e
- Mass timber deployment in new apartments, condos and office towers could cut emissions by at least 9MT, or nearly 10% of the sector’s emissions, by 2030
- Aside from emissions savings, greater use of mass timber in building construction could conservatively grow the mass timber market by $1 billion by 2030
- Addressing the cost of construction and occupancy insurance, and the mismatch between supply and demand, is essential for Canada to achieve emissions savings and job growth opportunities
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