Mass timber reduces construction’s carbon footprint, but introduces new risk scenarios

Allianz Commercial
February 15, 2024
Category: Wood, Paper & Green Building
Region: International

Mass timber has the potential to be a critical building component for the cities of the near future given the need for the construction sector to reduce its reliance on concrete and steel to lower its Co2 emissions. However, as this market grows and mass timber buildings evolve to greater heights, the construction risk landscape will also be transformed, bringing risk management challenges for companies, according to the new Emerging Risk Trend Talk report from Allianz Commercial. “The emergence of mass timber as a sustainable construction alternative represents a significant opportunity for the building sector to reduce its carbon footprint while also satisfying a demand for a material that is more cost-efficient but as durable as steel and concrete,” says Michael Bruch, Global Head of Risk Advisory Services at Allianz Commercia. … The main hazards and challenges include fire, natural catastrophes, water damage, manufacturing, supply chain and faulty workmanship issues.”

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