- Category: Green Buildings
16 Nov 2012
- Published on Friday, 16 November 2012 16:30
- Hits (1910)
There’s no stopping the growth of the green building market, according to a new study co-authored by industry news and data analyst McGraw-Hill Construction, and products and services provider United Technologies.
Their study showed that there has been a shift in the global construction market, and green buildings are now seen as a long-term business opportunity instead of just a niche market.
Out of the companies that McGraw-Hill surveyed across 62 countries, which include architects, engineers, contractors, consultants and building owners, 51 percent is seeking to put up over 60 percent of their work in green buildings by 2015, up from 28 percent of companies in 2012.
These firms eye increasingly green building projects because of client demand and market demand, two key business drivers of strategic planning, according to the results of the survey. Back in 2008, “doing the right thing” and market transformation were the major driving forces of the green building market, followed by client and market demand.
“We now see more pull than push for green buildings,” said Geraud Darnis, president and chief executive at United Technologies Climate, Controls and Security.
In the next three years, the “new construction” and “renovation projects” business activities will have the largest opportunity for green building worldwide. Sixty three percent of firms have green work plans in new commercial projects, 45 percent in new institutional projects and 50 percent in renovations.
In the United Kingdom and Singapore, green renovation projects were planned by the most number of firms at 65 and 69 percent, respectively.
In Brazil and the United Arab Emirates, new projects are seen to present the largest opportunity. Eighty three percent of firms in Brazil is planning to take on new green commercial projects by 2015, while 73 percent in the U.A.E. already has plans for green institutional projects.
“The existing building market is a ripe opportunity for green building, and we are seeing that play out in the market. It is clear that green is becoming an important part of the future landscape of the global construction marketplace, and firms will need to be prepared for that transition,” said Harvey Bernstein, vice president for Industry Insights and Alliances at McGraw-Hill Construction.
Rick Fedrizzi, president, chief executive and founding chair of the United States Green Building Council said the business community has fully embraced green buildings as a deliberate strategic business imperative that simultaneously provides societal and environmental benefits.
This is said to be evident in the success of the Leadership in Energy Efficiency Design scheme and all other rating systems that have driven growth in green building development. – C. Dominguez