The Urban Developer interview on Robotics in Construction.
Anthony Ferraro from Salvest Salvest.com.au was quoted :
Construction companies and builders taking up technology aren’t only investing in their people but are also ripe for financial rewards, according to Salvest managing director Anthony Ferraro.
The non-bank lender, which provides financial solutions for developers, has begun paying attention to businesses who think outside the box.
“One of the biggest things we’ve considered when raising capital during the past 12 months has been a company’s environmental, social, and governance, or ESG,” he says.
“We always ask, ‘Are they the right builder to deliver a certain development?’ but also, ‘What are their ESG compliance criteria?’.”
Ferraro says that despite construction costs skyrocketing in recent years, savvy companies need to spend money to make money.
While productivity and staff retention is great for business, so is reducing expenditure such as insurances.
“By taking on these new technologies like exoskeletons you reduce your overall costs, of course, but you also showcase to your insurer what preventative measures have been put in place, even if they’re not necessarily outlined under the building code or implemented by the union,” Ferraro says.
“You’re proving that you’re doing this as an overarching prevention for your workers, because you value their safety and are very conscious of health and wellbeing.
“At the end of the day, if you don’t evolve, you dissolve and to date that’s what’s largely happened in the construction industry.
“Being more open-minded as to how tech can assist you design and construct more developments in a more efficient manner assists overall productivity, protects workers, and ultimately the insurer will reward you by giving you lower premiums.”