LowEmissionAsphalt-136pg-WhitePaper-May2023

P a g e | 9 Adding on-road vehicular exhaust pollution, totaling 1.6 billion metric tons 15 annually, the NPV of our road systems’ CO 2 e jumps to at least $600 billion . 16 $600 billion being the minimum present value of necessary offsets to get to zero net emissions, a year 2050 goal now espoused by many of our state and local agencies as well as the U.S. Department of Transportation (USDOT) . Airports will spend another $150 to $200 billion in maintenance over the next decade and contribute three hundred million metric tons of CO 2 e annually requiring $150+ billion 17 in emission reductions or offsets. Two Budget Paradigm Most agencies have only a financial budget to meet today. In the near future, however, it is predictable agencies will face a self-imposed or even regulated emissions budget as well. Covering these twin “nuts” will challenge these agencies beyond anything public servants have ever been-tasked to manage in history. It will require imagination, innovation, perseverance, and commercial partnering on par with the Space Race to be comparably conservative. The paving industry must adapt if we are to support our public works customers. Agencies and industry participants who do not heed the call will fall far behind. The recent “Climate Challenge” pronouncements from the Federal Highway Administration (FHWA) all but ensure that outcome (see – Environmental Product Disclosure (EPD) discussion Page 58) 18 as trillions in transportation industry funding the next decade will be dispersed based upon EPD compliance and forthcoming formulized emission reduction goals for paving materials, construction, and all road system “ use phase ” impacts. In practice, many transportation authorities making progress on decarbonization are adopting a combination of approaches to include both establishment of target dates for reducing materials and construction emissions directly (EPDs will serve as the 15 EPA; FHWA. 16 EPA; Paris Agreement. 17 USDOT, Federal Aviation Administration (FAA). 18 FHWA Climate Challenge – Quantifying Emissions of Sustainable Pavements, www.fhwa.dot.gov/infrastructure/climatechallenge/ .