According to Architecture 2030, a non-profit, non-partisan, and independent organization, building operations are responsible for 27% of annual global CO2 emissions, while building materials and construction account for 20% - totaling almost 50% of total emissions each year. By 2040, 2/3 of the global building stock will be existing buildings, and without upgrades or retrofits, they will be emitting greenhouse gasses – which have negative environmental and health effects.
A solution to lowering your building’s emissions impact on the environment is to renovate or retrofit it to be greener. When you adopt green building strategies, you can maximize your building’s economic and environmental performance.
Investors are recognizing the value of buildings with green certification. Making your building green today comes with benefits beyond increasing its asset value.
Sustainability
Awareness of sustainability has increased all over the world as more people recognize the impacts of climate change and their role in creating healthy communities. Sustainable practices seek to minimize the consumption of non-renewable resources and minimize waste. Greener buildings are better for the environment by helping improve air and water quality, protecting biodiversity and ecosystems, and conserving natural resources. With a growing demand for Net-Zero buildings, owners should consider owning green buildings to drive sustainability, increase the health of its occupants, and improve the building’s performance.
Lifecycle Costing
Lifecycle costing can be a powerful tool, allowing you to develop budgets for the whole life of a green building. With a lifecycle costing method, investors can assess the anticipated economic performance of a building throughout its entire existence, including operation and maintenance.
Lifecycle costing has many short-term and long-term benefits. It helps to increase property cost knowledge, encourages more accurate maintenance and repair budgets, and energy conservation, and predicts water and utility costs with greater detail. Calculating lifecycle costs can also help foster compliance with building codes and regulations.
Operational and economic efficiency
The more energy-efficient a building is, the lower its operating expenses. Greener buildings help save money through reduced energy and water consumption. Retrofits such as upgrading light fittings, optimizing HVAC systems, and using submetering systems have proven to be worthwhile investments with short paybacks.
Greener buildings are more attractive to tenants because of their aesthetics and healthier environments, increasing the building’s reputation and popularity. Tenants seek non-toxic environments and support properties that align with their values of clean air, minimal waste, and responsible, sustainable practices. A green building’s positive perception will translate to improved occupancy rates and productivity.
By making your building green, you are not only saving on energy costs but also increasing your earning potential through improved occupancy and tenant retention.
