Driving Sustainable Building Solutions: Exploring Business Model Innovations for Delivering Net-Zero Carbon Buildings

Purpose: This paper aims to review the state-of-the-art business model (BM) innovations in the construction industry, focusing on promoting sustainable buildings including Net zero carbon buildings (NZCBs). The study seeks to identify the current state of knowledge and potential gaps for further research. Design/Methodology/Approach: The study systematically explores the state-of-the-art BM suitable for NZCBs. Multiple academic databases, including Scopus, Web of Science, and Google Scholar, were used to retrieve relevant peer-reviewed articles. Of the 87 articles retrieved for BM in the construction industry, only 20 tackled BM for (net) zero carbon and sustainable buildings. The reported publications were synthesized and analyzed, focusing on the role of BM innovation in delivering NZCBs. Findings: The study revealed that BM’s innovations could help construction firms improve their business process toward overcoming the market challenges associated with green and net zero buildings. However, there is a lack of guidelines to innovate BMs to support NZCB delivery. The study provides insights into the current state of knowledge and the critical role of BM in the adoption of sustainable building solutions. Specifically, the study emphasizes the significance of BM innovations in promoting sustainable building practices and advancing NZCBs. Practical Implications: The findings of this study are valuable for policymakers, industry stakeholders, and researchers as they consider the application of BM innovations in achieving NZCB. Indeed, the identified best practices can inform decision-making processes, guide policy development, and stimulate further research in the field. In addition, the proposed conceptual framework could guide construction and real estate firms to innovate their BM to promote NZCBs. Originality and Value: This study contributes to the adaptation of BMs by the construction industry to promote sustainable buildings, including NZCBs. Specifically, the state-of-the-art review provides the extent of knowledge on BM suitable for NZCBs and recommends a course for further research.