Svetlana Nikolaevna had never seen so much cash in her life. It was her family’s life savings, a huge stack of $100 bills, totaling $250,000. The girl behind the glass was counting it, verifying the authenticity of each bill with a scanner that beeped its approval if everything looked OK. Then, just to be sure, the girl examined each note under an ultraviolet light.
Important developments today:
1. Two year U.S treasury notes reach record lows
2. U.S. housing starts jump in August
The construction industry is a major contributor to greenhouse gas (GHG) emissions, and the urban housing constitutes a large part of the construction industry. With the urbanization and lifestyle changes taking place in developing countries, the demand for urban housing can only be expected to grow, and accordingly, the GHGs emitted from its production.
There has been much advancement in green technology in recent years, but much of this “high performance” green building is high-tech and capital intensive, often with high upfront costs, as a result of which it still remains a luxury supported by rich nations and wealthy individuals. In the developing country context where huge segments of the population are in the lower income segment, lacking access to essential services or housing, this type of approach to addressing climate change is unaffordable and largely irrelevant.
Unlike the more developed nations where catastrophes typically happen when a major disaster strikes, in the developing countries, even small disasters result in disproportionate loss of life and property. Apart from the increased frequency of these events resulting from climate change, there is also an escalated risk associated with an urbanizing world: urban areas in developing country cities are commonly characterized by high population densities, old and deteriorated infrastructure, poor environmental conditions, concentrated poverty in informal settlements and slums, unplanned and often unregulated growth, and inadequately prepared local institutions, which makes them especially vulnerable. (Photo by Lecercle)
A commonly cited problem attributed to much disaster-related damage in developing countries is the use of inappropriate building codes, poor zoning by-laws, and more generally, the lack of enforceability of the same. This is particularly the case for earthquakes, because unlike other types of natural disasters, casualties and fatalities from earthquakes are associated almost entirely with collapse or failure of manmade structures. The saying “earthquakes don’t kill people, buildings do” is as true today as it was when it was first coined.
Hence, the importance of these regulations—and more importantly, their enforceability—cannot be over-stated. But what of those households for whom these regulations do not apply?