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Analysis of sustainable or green construction in the face of costs and benefits.
Since World Green Building Council is a non-profit organization that promotes sustainability in design, green building and building operation globally. It is part of a global movement of people from very different origins, cultures, nationalities and industries (94 countries) whose commitment is not only the study of building ecological, clean and sustainable buildings, but also the investigation of sustainable cities and communities that make up a sustainable world.
In this case we want to present the Report "The Business Case for Green Building: A Review of the Cost and Benefits for Developers, Investors and Occupants" whose translation we could define as;"The Business Case for Green Buildings: A Review of Costs and Benefits for Developers, Investors and Residents"
Research shows that there are a myriad of unquestionable benefits to developing green building projects that benefit all stakeholders throughout the life cycle of a building. Still, one issue that remains controversial is whether it is possible to add financial value to the benefits of developing green buildings, which is crucial data for the real estate investor and lender community.
The report focuses on investigating the business costs and benefits of sustainable buildings in five key categories that we want to present and analyze:
Sustainable design and construction costs:
What are the construction costs?… Research shows that green buildings are not necessarily more expensive, especially if from the beginning economic strategies, an adequate administration of the program and environmental strategies are integrated into the development process.
While there may be an additional cost associated with it, compared to conventional building projects, the surcharge is generally not as high as the industry tends to think.
The image shows the percentage increase in actual construction costs for LEED certified projects, reflecting a gradual trend toward reducing additional costs over time. This situation is not too surprising, as the construction industry has been steadily improving its ability to develop green buildings, and global supply chains are also maturing, which translates into lower costs and efficient development in markets. building prices.
Value as an asset of sustainable construction
As investors and residents understand the importance of the environmental and social impacts of ecological buildings, increase the possibilities before a commercialization of greener buildings.
Studies carried out around the world show that green buildings attract more tenants and they drive rental and sale prices. In those markets where this type of building has become more common, the so-called “coffee discounts” have begun to emerge, which point to buildings with less sustainable characteristics, which are finally rented or sold at a lower price.
Evidence collected in the United States and Australia reveals that buildings classified under Energy Star, LEED and Green Star certifications generally lead the additional rental prices between 0% 13 - 17.3% 14, and a study shows a case of a 9% discount on rent .15 This reduction can be found in a study carried out in Australia, where the lower NABERS ratings (certification that only considers energy) often generate discounts on leases .
Operational costs in sustainable construction:
The green buildings They have shown that money can be saved by reducing electricity and water consumption and with lower operating and maintenance costs in the long run. The energy savings from these projects generally outweigh any additional design and construction costs, and the investment pays for itself in a reasonably short period of time.
To achieve the projected profit, the green building High performance must be backed by strong commissioning or commissioning, caring stewardship, and ongoing collaboration between owners and residents.
Productivity and health at work:
Studies indicate that ecological attributes in building design and indoor environments can improve the productivity, health and well-being of workers, which translates into real benefits for companies.
Despite the evidence that exists in relation to its positive impact, a higher quality of interior environments has not been prioritized in terms of design and construction, and its main cause continues to be financial reasons.
Although more studies are needed, it is clear that investing more in indoor environments can generate greater profits thanks to one of the main assets of all companies; your employees.
Risk reduction in green buildings:
Regulatory risks have become increasingly clear in many countries and cities around the world, with the most common being mandatory disclosure, building codes and laws prohibiting inefficient buildings.
Extreme weather events and systematic changes in weather patterns affect the insurability of real estate and call into question the resilience of assets. Changing tenant preferences and investor risk assessments can translate into increased risk of obsolescence for inefficient buildings.
Examples of green construction
Although undoubtedly in the market there are a great variety of examples of green buildings we want to show an example that stands out for its forcefulness. From the most sustainable office building, the Bullit Center, you show us the capabilities of the building in detail with different evaluation tools, we can see information in the article the most sustainable office in the world.
A highlight are the green building methods and techniques which therefore implies entering the bioclimatic world, from the article the construction of bioclimatic houses we can see 38 technical sheets that review the construction methods of the work from the foundation to the roof, an example:
We must bear in mind that the intensification of green buildings concept turn our neighborhoods and cities into greener spaces, we tend to prioritize large-scale economic initiatives, such as the fight against climate change, energy security, resource conservation and job creation, long-term resilience and the quality of life.
Furthermore, this report is complemented by a small study on Green Buildings to Green Cities that implements some examples of «case studies». In my opinion, it is worth reading this report to have a global vision of sustainable construction and the effects on the different agents involved.
Access to the Report… HERE.
Access to the World Green Building Council website… HERE.
We can also understand more about green building from HERE.
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Points of interest:
- Economic feasibility of energy efficient buildings
- Analysis of sustainable buildings for non-residential use.
- Programs for the energy simulation of buildings.
- Green employment report Spain and Latin America
- Energy savings with microcogeneration facilities.
