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Green buildings now “business imperative” - report

Green buildings used to be designed to comply with environmental measures; now, they are intended to generate business value and opportunities, according to a recent report of McGraw-Hill Construction.

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These business opportunities include the development of new environmentally friendly products.

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McGraw-Hill Construction, North America’s leading construction project and product information provider, surveyed firms across 62 companies for the report.

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This included architects, engineers, contractors, consultants and building owners, 92 percent who are members of Green Building Councils.

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They found that companies worldwide are moving towards green buildings with 51 percent of the respondents seeking to green 60 percent of their work in the next two years. This is a significant increase from the 28 percent that said the same for 2013 and twice the 13 percent in 2008.

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McGraw-Hill Construction noted this development is not just a trend in one country or region but is widespread around the world.

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For instance, from 2012 to 2015, companies expecting that over 60 percent of their work will be green triples in South Africa; doubles in Germany, Norway and Brazil; and grows between 33 and 60 percent in the United States, Singapore, Britain, the United Arab Emirates and Australia.

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“This report confirms that the green building movement has shifted from 'push' to 'pull'—with markets increasingly demanding no less than green buildings,” said John Mandyck, chief sustainability officer, United Technologies Corp., Climate, Controls and Security.

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“By promoting greater efficiencies for energy and water, green buildings lower building costs while conserving the earth's precious resources. This powerful combination of built-in payback with environmental stewardship creates a new value proposition that is accelerating green building in all regions of the globe,” he added.

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Assessing the key drivers of the green building market, the report highlighted that “being a business imperative” globally is the number one reason why companies take on green buildings. This dramatically improved when “doing the right thing” is the key driver in 2008 and “client and market demand” in 2012.

“The acceleration of the green building marketplace around the world is creating markets for green building products and technologies, which in turn will lead to faster growth of green building,” said Harvey Bernstein, vice president of Industry Insights and Alliances at McGraw-Hill Construction.

He stressed that this similarly opens market opportunities for both developed and developing countries worldwide, in which specific benefits can also be reaped such as lower operation costs and higher building values.

The report, World Green Building Trends - Business Benefits Driving New and Retrofit Market Opportunities in Over 60 Countries, was developed in collaboration with U.T.C. and with support from the World Green Building Council and the U.S. Green Building Council. – C. Dominguez

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