Governments and Investors Losing Millions on Unsustainable Projects

Ijeoma Azi, representing Sustain Advoc Project Management Consult, stated that governments, developers, and investors are incurring significant financial losses due to the failure to integrate sustainability into project management. She criticized traditional success measures, which focus solely on project completion within time and budget, as inadequate in the face of rising energy costs, climate risks, and technological changes.

Azi identified poor energy efficiency as a major resource drain and highlighted that inefficient building designs lead to increased operational costs. She advocated for sustainable design solutions, including natural ventilation and renewable energy integration, which can significantly reduce operational costs and improve asset performance.

Azi warned that organizations ignoring climate-related risks expose themselves to rising costs associated with flooding, heatwaves, and infrastructure damage. She noted that projects lacking sustainability credentials struggle to attract future capital and emphasized that the future belongs to organizations prioritizing long-term value creation over short-term gains.