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Australia's building industry has released a report showing how it can contribute to major reductions in emissions.

Australia's building sector can deliver up to 28% of Australia’s 2030 emissions reduction target, save $20 billion and create healthier, more productive cities if a suite of targeted policies are introduced, according to a new report by the Australian Sustainable Built Environment Council (ASBEC).

 President of ASBEC, Prof Ken Maher, said over the last decade, market leaders in the building sector have shown that rapid improvements are possible, and this report demonstrates just how much more opportunity exists.

"Our modelling found that without further action, buildings would consume almost half of Australia’s total national carbon budget. This is not an option,” he said.

The Low Carbon, High Performance report provides a roadmap with five policy solutions to drive the transition to a zero carbon building sector.

The report was welcomed by both  the Green Building Council of Australia and the Australian Refrigeration Association.