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American Journal of  Environmental
Economics (AJEE) 

Achieving Carbon-Neutral Construction: Global Trends and Bangladesh’s Sustainable 
Future

Kalyan Kumar Mallick1, Jumman Sani1*, Prodip Krishna Sadhukhan2, Most. Arzu Banu3, Ramani Ranjan Shikder4

Tapan Kumar Biswas1

Volume 4 Issue 1, Year 2025
ISSN: 2833-7905 (Online)

DOI: https://doi.org/10.54536/ajee.v4i1.4167
https://journals.e-palli.com/home/index.php/ajee

Article Information ABSTRACT

Received: December 03, 2024

Accepted: January 07, 2025

Published: April 22, 2025

The construction industry is a major contributor to climate change, with buildings accounting 
for over 40% of  worldwide CO2 emissions. In rising countries like Bangladesh, achieving 
carbon-neutral buildings has emerged as a crucial goal in global sustainability initiatives. 
Bangladesh has particular difficulties in striking a balance between the requirement for 
environmental sustainability and its fast urbanization and economic growth. Although there 
are green building technologies and practices available, high costs, restricted access to green 
financing, a lack of  local knowledge, and a lack of  government support are preventing 
carbon-neutral construction from being widely adopted. These obstacles hamper the shift to 
more energy-efficient and sustainable building techniques.. This paper examines worldwide 
developments in carbon-neutral building techniques as well as the unique obstacles Bangladesh 
must overcome to use them. It looks at the particular challenges faced by Bangladesh, such 
as budgetary limitations, technology deficiencies, and ineffective policies. The study provides 
strategic recommendations, including more funding for green infrastructure, easier access 
to green financing, and greater public-private cooperation, by examining successful green 
building projects in other nations. It highlights how crucial government incentives and policy 
changes are to promoting environmentally friendly building methods. In the end, this study 
offers a solution for Bangladesh to create a carbon-neutral building industry, supporting 
international sustainability objectives and meeting the country’s housing demands and fast 
urbanization.

Keywords

Bangladesh, Carbon-Neutral, Fast 
Urbanization, Green Building, 
Green Financing, Green Financing

1 Faculty of  Business Administration, University of  Development Alternative (UODA), Bangladesh
2 Department of  Pharmacy, University of  Development Alternative (UODA), Bangladesh
3 Department of  Biotechnology, University of  Development Alternative (UODA), Bangladesh
4 Department of  Mathematics, University of  Development Alternative (UODA), Bangladesh
* Corresponding author’s e-mail: jumman.sani@gmail.com

INTRODUCTION
Buildings are responsible for around 40% of  global 
CO₂ emissions, making the construction industry a 
major contributor to carbon emissions (UNEP, 2022). 
With an emphasis on sustainable practices including 
energy-efficient materials, renewable energy, and carbon-
capturing technologies, achieving carbon-neutral building 
has emerged as a crucial objective in the fight against 
climate change. However, obstacles include financial, 
technological, and policy-related difficulties plague 
emerging countries. Bangladesh faces particular difficulties 
in striking a balance between environmental sustainability 
and economic growth because of  its fast urbanization 
and susceptibility to climate change. The broad adoption 
of  carbon-neutral construction is hindered by high costs, 
insufficient green funding, and a lack of  qualified labor, 
despite advancements in the adoption of  green building 
standards such as LEED certification and energy-efficient 
norms. This paper explores at global trends in carbon-
neutral building as well as the unique opportunities 
and constraints faced by Bangladesh. It provides a path 
for a sustainable and carbon-neutral building sector in 
Bangladesh by highlighting approaches and solutions to 
overcome obstacles and referencing both domestic and 
successful global examples.

LITERATURE REVIEW
The United Nations Environment Programme (UNEP, 
2022) reports that 39% of  global CO₂ emissions in 2022 
came from the building sector which makes it one of  
the biggest contributors to carbon emissions worldwide. 
This has sparked a boom in studies on carbon-neutral 
and sustainable building, especially in developing 
nations where implementing green building techniques 
is frequently more difficult. Numerous scholarly works 
highlight the technological, cultural, policy, and economic 
obstacles that hinder the shift to low-carbon building. 
The high initial cost of  implementing sustainable 
materials and technology is one of  the major issues 
that has been identified globally. For developers in low-
income countries, green materials like cross-laminated 
lumber, low-carbon cement, and energy-efficient 
windows are economically unaffordable because they are 
frequently 30–40% more expensive than conventional 
materials (Hossain & Ahmed, 2022). Another significant 
limitation is the absence of  reasonably priced financing 
options. A significant financial burden for developing 
nations like Bangladesh, the building industry is expected 
to need $5 trillion a year by 2030 to achieve carbon-
neutral targets, according to the World Economic Forum 
(2022). According to studies by Strøm (2021) and Goh 



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and Shafique (2022), only 15% of  necessary investments 
in nations like Bangladesh come from green finance 
sources, such as green bonds and concessional loans 
(Bangladesh Climate Resilience Plan, 2023). In nations 
with tight budgets, the adoption of  sustainable building 
methods is slowed down by the restricted availability 
of  green funding, which further exacerbates economic 
obstacles. An additional significant barrier, particularly 
in low- and middle-income nations, is technological. 
Even though wealthy nations like the US and Singapore 
have made great strides in carbon-neutral technology, 
such as energy-efficient machinery and carbon capture 
systems, developing countries frequently find it difficult 
to obtain and afford these innovations (Chassagnon, 
2023). Bangladesh, for example, uses a lot of  old building 
materials and techniques, like Portland cement and 
burnt clay bricks, which are high in carbon and do not 
meet current sustainable building requirements (IPCC, 
2023). Furthermore, a major portion of  sophisticated 
construction technologies, including energy-efficient 
HVAC systems, modular construction, and sustainable 
building materials, are imported, which raises project 
costs because of  tariffs, logistical difficulties, and 
maintenance requirements (Xie & Tan, 2022). Only a 
small percentage of  experts in Bangladesh are trained 
in sustainable building technology, indicating a serious 
lack of  local competence. The broad use of  carbon-
neutral building practices is hampered by a shortage 
of  trained workers in fields like advanced material 
science and renewable energy integration (Hossain & 
Sultana, 2022; Uddin & Alam, 2023). Underdeveloped 
supply chains for sustainable materials, which are still 
scarce and frequently not produced locally, worsen 
this technical divide and cause additional expenses and 
delays for building projects (Rahman & Sayeed, 2022). 
Green building policies are sometimes disjointed and 
uneven, especially in developing nations. Many countries, 
including Bangladesh, lack a comprehensive, legally 
binding framework for encouraging sustainable building 
practices, even though some have adopted green building 
codes and certification programs like LEED (Leadership 
in Energy and Environmental Design) (Chattopadhyay 
& Rahman, 2022). Bangladesh has environmental laws in 
effect, but there are no particular rules for carbon-neutral 
building, as Kazi and Sattar (2022) point out, which 
causes uneven implementation throughout the industry. 
Furthermore, developers are deterred from pursuing 
sustainable construction by the lack of  incentives, such as 
tax exemptions or subsidies for green projects (Hashem 
& Hossain, 2023). Developers are frequently motivated 
to reduce upfront expenses, which take precedence 
over long-term financial and environmental gains. Long 
approval procedures and bureaucratic inefficiencies for 
green projects further discourage stakeholders from 
implementing creative, sustainable practices (Hossain & 
Sultana, 2022). The adoption of  carbon-neutral buildings 
is severely hampered by these legal gaps, which also make 
it challenging for construction companies to adopt more 

environmentally friendly procedures. A further major 
hurdle that affects how quickly green building techniques 
are implemented is cultural opposition. According to 
Malik and Mollah (2023), traditional building methods 
predominate in Bangladesh, where developers and 
construction workers frequently have doubts about 
novel, untested materials and techniques. Despite having 
a large carbon footprint, these conventional materials—
such as cement and clay bricks—are favoured because 
they are regarded as dependable, affordable, and long-
lasting (Chattopadhyay & Rahman, 2022). Additionally, 
many professionals in the building industry are 
unaware of  the long-term economic and environmental 
advantages of  implementing carbon-neutral technologies 
(Zhang & Jin, 2021). According to Malik and Mollah 
(2023), there is a notable knowledge gap in Bangladesh, 
especially among the workforce, which is frequently 
undereducated and resistant to change. Because clients 
seek instant affordability over long-term investment in 
green technologies, developers, particularly in the cheap 
housing sector, frequently put short-term cost savings 
ahead of  sustainability (Nahar, 2021). According to 
Peters and Fridley (2023), the lack of  appropriate training 
programs exacerbates the cultural inertia towards adopting 
sustainable practices by impeding the mass transmission 
of  knowledge about new construction techniques and 
technology. Building climate-resilient, carbon-neutral 
infrastructure is made more difficult by Bangladesh’s 
extreme susceptibility to natural catastrophes including 
floods and cyclones (USAID, 2024). Infrastructure is 
severely damaged by these regular disasters, increasing the 
cost and complexity of  retrofitting and reconstruction 
projects. The issue is further exacerbated by the nation’s 
fast urbanisation, especially in places like Dhaka. The 
construction industry is under tremendous pressure to 
strike a compromise between the need for inexpensive 
housing and the necessity of  applying sustainable building 
techniques due to the city’s population expansion, which 
requires 300,000 additional housing units annually 
(Hossain & Ahmed, 2022). When combined with the 
lack of  green funding and technical know-how, this 
urban growth creates a special obstacle to incorporating 
green building techniques into the nation’s development 
(Poudel & Gautam, 2021). Despite these many obstacles, 
other nations dealing with comparable problems have 
offered some encouraging answers. Bangladesh can learn 
from the Philippines’ successful use of  recycled materials 
in post-disaster housing, which provides a paradigm 
for incorporating sustainable materials into catastrophe 
rehabilitation (Ghosh & Chowdhury, 2021). In order to 
encourage investment in low-carbon building technology, 
Bangladesh should follow the example of  China, which 
has instituted government-led programs to offer financial 
incentives for green construction (Zhang & Jin, 2021).

MATERIALS AND METHODS
This study uses a qualitative methodology and secondary 
data to investigate the opportunities and problems 



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associated with carbon-neutral buildings in Bangladesh. 
The study is based on a thorough analysis of  the body 
of  literature, which includes scholarly works, government 
documents, reports from international organizations, and 
case studies of  international green building projects. With 
an emphasis on the particular challenges encountered by 
Bangladesh, the secondary data was examined to find 
important themes and trends in carbon-neutral buildings. 
In order to evaluate the data, make links between local 
context and global practices, and offer suggestions for 
ways to get beyond obstacles to sustainable building, 
qualitative analysis was used. This approach enables a 
thorough comprehension of  the problems and makes 
it easier to create useful suggestions for encouraging 
carbon-neutral buildings in Bangladesh.

Analysis
The building industry, which accounts for 39% of  
worldwide carbon emissions, confronts significant 
financial obstacles when it comes to adopting sustainable 
practices. Globally, this shift will be extremely expensive; 
by 2030, it will cost almost $5 trillion a year to implement 
cutting-edge technologies and environmentally friendly 
materials. The high cost of  sustainable materials and 
the upfront expenditures needed for green technologies 
are the causes of  these expenses. For example, many 

developers, especially in low- and middle-income nations, 
cannot afford materials like cross-laminated lumber and 
low-carbon cement since they are 30–40% more expensive 
than conventional alternatives. These worldwide issues 
are exacerbated in Bangladesh by financial limitations. 
Only 2-3% of  GDP is devoted to climate-related projects, 
such as sustainable infrastructure, indicating the nation’s 
limited financial capacity to finance green construction. 
Particularly in a developing country with rapid urbanization 
and strong housing demand, this amount of  investment 
is not enough to meet the growing need for carbon-
neutral development. Furthermore, the financial strain 
is made worse by the dearth of  green financing options 
like green bonds and concessional loans. There is a huge 
funding gap in the building industry since green financing 
only accounts for 15% of  the necessary investments. 
Adoption of  sustainable materials and methods is further 
discouraged by developers’ and investors’ frequent lack of  
access to customized finance solutions. Bangladesh finds 
it challenging to reach its carbon-neutral building targets 
due to high costs, a lack of  government support, and 
limited access to green financing, highlighting the need 
for strategic initiatives and outside assistance. Following 
graphs and charts can show it better:

GDP Allocation for Climate Projects

Figure 1: GDP allocation for climate projects

Figure 2: Cost Comparison of  Building Materials

The graph contrasts Bangladesh’s (about 2.5%) GDP 
share allotted to climate-related initiatives with the global 
average (5%). The data reveals a notable discrepancy, 
highlighting Bangladesh’s insufficient financial capacity 
to adequately address climate concerns, especially in 
sustainable practices and green construction. The 

country’s capacity to move towards carbon-neutral 
infrastructure is hampered by this insufficient funding, 
particularly in light of  its strong housing demand and fast 
urbanization.

Cost Comparison of  Building Materials



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The graph illustrates the price of  ordinary cement with low-
carbon cement, which is a sustainable material. One major 
financial obstacle to the adoption of  low-carbon cement 
is its about 40% higher cost. This price difference deters 

developers from utilizing sustainable building materials, 
especially in low- and middle-income nations like Bangladesh.

Green Financing Contribution

Figure 3: Green Financing Contribution

The contribution of  green financing to the overall 
investments required for sustainable construction is 
depicted in the pie chart. Only 15% of  funding comes 
from green sources; the remaining 85% comes from 
other sources. This notable disparity draws attention 
to the dearth of  easily available and focused funding 
sources for sustainable construction methods. This 
small contribution makes it more difficult for nations 

like Bangladesh to embrace eco-friendly products and 
technologies. Accelerating sustainable development and 
closing this gap could be accomplished by expanding 
green financing through tools like concessional loans or 
green bonds.

Budget Allocation: Sustainable vs. Conventional 
Materials

Figure 4: Budget Allocation: Sustainable vs. Conventional Materials

A notable difference is shown in the budget allocation 
between conventional and sustainable materials in the bar 
chart. A green bar indicates that about 30% of  the money 
goes to sustainable resources, while a red bar indicates 
that conventional materials account for the majority at 
about 70%. This graphic comparison highlights a clear 
preference for traditional materials, indicating that 
resources are allotted to sustainability projects at a lower 
rate. The graph emphasizes the necessity of  a more well-
rounded strategy to promote increased spending on 
sustainable materials.

Public-Private Partnership Collaboration Index
The bar chart compares the Public-Private Partnership 
(PPP) Collaboration Index of  Bangladesh with the global 
average, highlighting a notable gap. Bangladesh’s index, 
represented by an orange bar, stands at approximately 
3, while the global average, shown by a purple bar, is 
significantly higher at around 7. This disparity indicates 
that Bangladesh’s public-private collaboration is less 
developed compared to the global benchmark, suggesting 
room for improvement in fostering stronger partnerships 
between public and private sectors.



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Findings
Inadequate GDP Allocation
Bangladesh currently devotes 2-3% of  its GDP to 
climate-related projects, which is not enough to satisfy the 
nation’s growing need for carbon-neutral and sustainable 
infrastructure.

High Cost of  Materials
Since sustainable building materials, such low-carbon 
cement and cross-laminated lumber are 30–40% more 
expensive than conventional materials, most developers 
and contractors cannot afford them.

Restricted Green Financing Option
The construction industry’s capacity to adopt 
environmentally friendly methods is hampered by a large 
financial deficit, as only 15% of  the necessary investments 
come from green financing programs. 

Preference for Budget Efficiency
Short-term cost reductions are frequently the top 
priority for developers and contractors, who opt for less 
expensive conventional, non-sustainable materials, which 
raise carbon emissions and worsens the environment.

Absence of  Financial Mechanisms
Investment in environmentally friendly building projects 
is further hampered by Bangladesh’s restricted access to 
specialized financial instruments such as green bonds or 
concessional loans.

Insufficient Government Promotions
Bangladesh’s lack of  tax breaks or subsidies for green 
building initiatives deters developers from implementing 
sustainable building techniques, which restricts the broad 
use of  environmentally friendly technologies.

Restricted Public-Private Partnerships
The government and private sector do not work together 
to promote the development of  green infrastructure, 
which leads to dispersed attempts to scale sustainable 
building.

Insufficient Long-Term Investment
The shift to carbon-neutral practices is delayed because 
developers and stakeholders frequently prioritize cutting 
project costs up front while ignoring the long-term 
financial and environmental advantages of  sustainable 
building techniques.

Recommendations
Boost Climate-Related Budget
To ensure there is enough money to assist the shift to 
sustainable building methods and tackle the escalating 
environmental issues, the government should raise its 
GDP allotment for green infrastructure projects.

Subsidize Sustainable Materials
To make sustainable building materials like cross-
laminated timber and low-carbon cement more affordable 
for developers, the government should implement tax 
breaks and subsidies.

Extend Green Financing Mechanisms
To encourage private sector investment and offer financial 
incentives for the adoption of  sustainable building 
methods, the government should establish and support 
carbon credit programs, green bonds, and concessional 
loans.

International Cooperation
To obtain funds, technical support, and information 
exchange for international projects, Bangladesh should 
look to form alliances with institutions such as the Asian 
Development Bank (ADB) and the Green Climate Fund.

Campaigns and Training
Start extensive public awareness campaigns and training 
initiatives that highlight the long-term financial and 
ecological advantages of  implementing sustainable 
construction technology for developers, contractors, and 
the general public.

Administrative Reforms
Put laws into place requiring public infrastructure projects 

Figure 5: Public-Private Partnership Collaboration Index



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to employ eco-friendly materials and technologies. To 
guarantee commitment to sustainable practices, establish 
sanctions for environmental standard noncompliance.

Assistance for Green Innovation
Promote innovation in the building industry by offering 
financial aid or other incentives for the study and 
advancement of  sustainable building technologies, such 
as waste minimization strategies, eco-friendly materials, 
and energy-efficient systems.

Simplify Green Certification Procedures
To incentivize builders and developers to embrace green 
construction techniques, streamline and expedite the 
process of  getting green certifications, such as LEED or 
comparable national standards.

Establish Local Green Construction Expertise
Make educational and training investments to create a 
workforce with the know-how to plan, build, and maintain 
environmentally friendly structures, therefore lowering 
dependency on imported materials and technologies.

Encourage Eco-Friendly Building Practices
Create model buildings and pilot projects to show the 
viability and benefits of  sustainable building, acting as 
models for upcoming initiatives and promoting a broader 
adoption of  green practices.

Incorporate Green Infrastructure into Urban design
To lower cities’ overall carbon footprint and increase their 
climate change resilience, make sure that urban design 
incorporates green infrastructure, such as permeable 
pavements, urban forests, and green roofs.

Collaboration with the Private Sector
To build a more resilient and sustainable construction 
ecosystem, encourage cooperation between the public 
and private sectors as well as financial institutions. Public-
private partnerships, collaborative ventures, and jointly 
funded green infrastructure initiatives are a few examples 
of  this.

CONCLUSION
Bangladesh faces many obstacles on its route to 
carbon-neutral building, such as inadequate funding, 
restricted access to sustainable materials, a lack of  green 
finance, and a lack of  local knowledge of  cutting-edge 
construction technology. However, by taking calculated 
steps like boosting government funding for climate-
related initiatives, encouraging the use of  sustainable 
materials, and developing green finance channels, these 
challenges can be addressed. The shift to green building 
methods will also be accelerated by raising public 
awareness, creating clear legislative frameworks, and 
encouraging public-private collaborations. Bangladesh 
can create a strong, sustainable construction industry 
that not only reduces environmental effect but also meets 

the nation’s rapidly increasing urbanization and housing 
needs by taking inspiration from successful international 
models. Bangladesh’s building sector can transition to a 
more sustainable, carbon-neutral future with the help of  
its foreign partners, industry, and government.

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