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Governments and the global building sector must radically cut energy consumption now in order to hit targets some 40 years hence for curbing climate change, says a new report from the World Business Council for Sustainable Development.

The study findings are the result of a four-year, $15-million research project by WBCSD. The work represents the first inventory of current and projected future building stock. It is an analysis of that information and the modeled effects of consumer preferences and behaviors, design, technology and policy on energy consumption in six major markets -- Brazil, China, Europe, India, Japan and the U.S. The markets account for almost two-thirds of the world's energy use.

The report was released internationally this week with a major presentation conducted in Paris, where the findings were announced at the Alliance to Save Energy's EE Global Forum and Exposition.