Green buildings yield significant operational cost savings compared with traditional buildings and produce higher asset values, according to the World Green Building Trends 2016 Smart Market Report, by Dodge Data & Analytics and United Technologies Corporation.
More than 1,000 survey participants from 69 countries said they expect a 14% savings in operational costs over five years for new green buildings, and 13% savings over five years for green retrofits and renovations. In addition, building owners say that green buildings, both new and renovated, carry a 7% increase in asset value over traditional buildings.
These findings explain why building industry professionals forecast that more than 60% of their projects will be built to green standards by 2018. They also support the notion that green leases are becoming more attractive to tenants and investors, who are willing to pay premiums for long-term benefits.
Recent studies have indicated that green workplaces also benefit the bottom line by improving employee productivity and reducing absenteeism, staff turnover, and medical costs.
Related Stories
Codes and Standards | Jan 10, 2018
Sliding-scale proposal for civil damages resulting from construction fatalities, injuries draws ire of trades
New York City Council proposal puts limits on penalties for safety violations leading to death, serious injury.
Codes and Standards | Jan 9, 2018
Federal appeals court orders EPA to revise lead standard within a year
Current exposure levels for lead in paint and dust have been in place for 17 years.
Codes and Standards | Jan 5, 2018
Building code officials should vet building product evaluation methods
Evaluation service providers should be properly accredited.
Codes and Standards | Jan 4, 2018
U.S. military needs to do more to address climate change risk for facility design
GAO report cites hundreds of overseas facilities in peril.
Codes and Standards | Jan 3, 2018
China Construction America faces billions of dollars in liability in lawsuit
Court filing alleges massive fraud and breaches of contract in Baha Mar Resort Project.
Codes and Standards | Jan 2, 2018
Smart building tech can reap utility savings of 8% to 18% in commercial buildings
Potential for increased deployment of smart building technology is great beyond early adopters.
Reconstruction & Renovation | Dec 21, 2017
Interactive map includes detailed information on historic New York City buildings
The New York City Landmarks Preservation Commission launched a new, enhanced version of its interactive map, Discover NYC Landmarks.
Codes and Standards | Dec 20, 2017
Moody’s says cities may face credit downgrades if they don’t address climate risks
Credit ratings giant will ask what communities are doing to mitigate risk exposure.
Codes and Standards | Dec 18, 2017
Schools with optimal indoor environments boost student performance and energy efficiency
World Green Building Council report confirms that lighting, indoor air quality, thermal comfort and acoustics impact learning.
Codes and Standards | Dec 14, 2017
Mayors sign Chicago Climate Charter; will strive to meet Paris accord goals
Pledge to push for more local authority to reduce emissions.