Cities are massive consumers of energy and resources, comprising complex systems that power both physical and social infrastructure including national grids, water and sewerage management systems, transportation and logistics, buildings such as homes, offices, schools, hospitals, and more.
A McKinsey Global Institute report has found that just keeping pace with projected global GDP growth will require an estimated US$57 trillion in infrastructure investment between now and 2030. As urban populations grow, pressure is mounting on city leaders to find rapid solutions to infrastructure delivery and to mitigate its impact on the environment. This is even as the systems powering it are undergoing changes on an unprecedented scale.
For example, conventional power systems built for large-scale fossil fuel generation are coming under increased scrutiny due to global challenges such as climate change, dwindling natural resources, energy price volatility and geopolitical concerns. Future infrastructure will have to be smart, responsive, and resilient, in order to optimise consumption, integrate clean energy sources, increase delivery efficiency, as well as withstand future shocks and disasters.
The same McKinsey report states that improving infrastructure productivity could save the world US$1 trillion a year. Smart city solutions are hence increasingly seen as the way forward, and apart from energy-related applications, also have tremendous potential in improving the delivery of safe drinking water and waste recovery. As the infrastructure and utilities landscape undergo radical change, new opportunities for businesses will emerge.
Which technologies and business models will come to dominate the infrastructure industry? How will city leaders decide on the innovations that will help better deliver infrastructure services, while improving the quality of life for its citizens? What factors will determine the success of long-term, sustainable infrastructure projects? This discussion will focus on the challenges and opportunities facing policymakers and business leaders in building sustainable and resilient infrastructure for cities.
