Mass timber has huge potential when it comes to reducing the carbon footprints of buildings, and Canada is well-positioned to become a world leader in the space, according to a new report from Royal Bank of Canada. The report, released Oct. 27 by the RBC Climate Action Institute, part of the bank’s thought leadership department, notes that while mass timber has a much lower emissions profile than concrete or steel, it still only makes up one per cent of the North American construction sector. “Concrete and steel’s emissions (profiles are) six and five times greater than wood, respectively,” the report said, noting that concrete, steel and aluminum in buildings alone contributed six per cent of Canada’s total greenhouse gas emissions in 2022. If developers were to swap concrete and steel with mass timber, there would be a 12 per cent to 25 per cent drop in building emissions, the report found.