Economic Benefit of Construction Waste Management with Social Cost for Neighbourhood Communities

Abstract

Managing construction waste is crucial for environmental sustainability, particularly in large cities where it has become a major issue. The construction industry generates substantial waste, causing environmental impacts and public concern. This has led to pressure on the sector to reduce costs and improve environmental quality by adopting waste reduction measures, achievable through effective management and recycling. Reusing and recycling construction waste are essential for reducing costs and minimizing overall waste. Construction waste management affects society economically, socially, and environmentally. Economic tools are effective in encouraging eco-friendly practices, but the social impacts, such as disturbances to nearby residents, are less studied. This paper analyses the economic feasibility of minimizing construction waste materials, incorporating social costs for neighboring communities through a comprehensive cost-benefit analysis. The findings indicate that waste minimization with consideration for social costs is economically feasible and significantly contributes to improving both environmental and social performances.