When you are working on a construction site, you essentially always need to be considering the weather. Rain, water levels, drought, wind, storms, etc., can all put a project on hold indefinitely. In fact, economists estimate that weather currently impacts a third of the U.S. economy – but what about when the weather becomes increasingly unpredictable? Climate change is only continuing to ramp up, which leaves the future of this industry somewhat uncertain.
This article will talk about three of the greatest ways that the Institutional Investors Group on Climate Change (IIGCC) states the construction industry will be impacted by global warming. This is something that every construction company – big and small – needs to be taking into consideration.
The physical impact of weather
Severe or unpredictable weather can destroy a deadline in a heartbeat. This has always been true, but it is becoming more and more of an issue in recent years and will likely continue this same trend in the future. Contractors need to be considering factors like too much rain, cold, or heat when creating contracts, allowing for extra recovery time in light of a delay due to weather. And keep in mind that this is not just the weather surrounding the physical work site – extreme weather can mean delays in accessing raw materials, throwing off the entire project schedule even when your team is standing under clear blue skies.
The materials and building techniques
As the weather continues to change, so should come as no surprise that so are the regulatory standards for construction projects. Materials and techniques that worked for building structures and roads in the fifties no longer meet today’s standards. Owners of construction companies need to be keeping all of this in mind – not only to ensure that all of the most recent codes and regulations are being followed to a T but also to ensure that they have a staff that has been trained to safely and effectively work with these materials and follow these techniques.
The cost of insurance
Climate change is now being factored into premiums, which means it costs more to build in areas particularly susceptible to severe weather. These costs are inhibitory to many individuals – especially when considering projects like home building or additions – which are likely to result in fewer construction projects. The best contractors will do all they can to plan ahead in terms of risk management and anticipate everything they are likely to encounter over their work schedule. Doing so can be the difference between protected revenue and revenue lost.