We have further developed the sustainability component of our strategy. Our purpose is to build a sustainable tomorrow. With the sustainability strategy, we take ownership of fulfilling this purpose. The sustainability strategy forms an integral part of BAM's 2021-2023 corporate strategy to de-risk our portfolio and move towards product leadership and lifecycle solutions. It enables us to reduce carbon, resource and waste footprint and offer clients scalable sustainability solutions.
We see a strong drive for sustainable construction in our markets. Clients and the markets increasingly require us to take responsibility for both social and environmental sustainability. Our product leadership is key to offer scalable sustainable solutions. Lifecycle solutions provide an opportunity to reduce the company’s footprint. Sustainability will be a differentiator for growth.
Climate change impacts intensify across the globe. The temperature rises due to global warming. Raw materials become scarce due to the increasing demand. Costs to repair damages caused by extreme weather rise, and the number of plant and animal species reduce due to urban expansion. In addition, societal challenges need to be adressed. Unhealthy and unsafe living environments affect physical and mental health, and inequality in opportunities limits diversity and inclusiveness.
All these global challenges and developments affect and impact the construction industry. We underline the importance of these challenges and developments. We want to be a leader in the sector to create a socially and environmentally sustainable environment. We analysed the global challenges and developments in legislation, clients and the construction market. These results in combination with the results of our materiality assessment were used to define six key themes for the sustainability strategy.
With this sustainability strategy we continue to support and encourage clients to accelerate their sustainability goals. In the coming years we will work with value chain partners and other stakeholders to fully leverage our contribution to the six integrated planet and people themes and continue the journey towards a positive impact on people and planet.