The construction industry is adapting to a variety of stresses and pressures and working to increase resilience and sustainability in a changing climate. Host and Aon’s Chief Commercial Officer of Global Construction and Infrastructure, Tariq Taherbhai, is joined by Aon’s Global Industry Specialty Leader, Construction and Infrastructure, James MacNeal, to discuss today's global construction industry. 

• [2:02] A high-level overview of today’s global construction industry
• [4:22] Key renewable energy and energy transition construction projects
• [7:46] Addressing inflation, workforce shortages and geopolitical factors
• [10:55] Diversification of risk capital as an essential component in construction projects
• [14:30] The role of the risk capital market in addressing client needs

Note: This episode was recorded on March 21st. The Baltimore Bridge incident is not included in the discussion.

Additional Resources:

Aon’s website

Aon’s Global Risk Management Survey

Aon’s Global Construction and Infrastructure

Inflation Reduction Act of 2022

Chips and Science Act of 2022

Infrastructure Investment and Jobs Act of 2021

Tweetables:

• “Crucially, [clients] are now asking the question, ‘What else do I need to do in the design construction operation of this asset to make it more resilient in the face of this changing climate?’.” — James MacNeal
• “The failure to attract and retain talent and workforce shortages are featured in the top six concerns of our industry clients.” — James MacNeal
• “It’s really important that construction clients and their brokers increasingly explore other options for risk transfer.  You can’t just rely on the traditional construction market anymore.” — James MacNeal