Market forces alone will not achieve the 77% reduction in building energy use

According to the World Business Council on Sustainable Development, even with deterrents in carbon emissions, through significant prices or taxes,  market forces alone will not achieve the 77% reduction in building energy use by 2050 that the Council feels is needed to stabilize the global climate.  In a report titled, “Transforming the Market: Energy Efficiency in Buildings” researchers analyzed the building industries in the United States, the EU, Japan, China, India and Brazil. Those six markets represent 2/3 of the global energy used.  The report states that to achieve 77% reduction in energy use, emphasis needs to be placed on more stringent energy codes, enforcement of those codes, better reporting of energy use, research and development of new technologies that improve efficiency, and training of the workforce.