New | China's green building push gains momentum
Mainland developers are eyeing long-term revenues and energy savings amid the race to cut carbon emissions by 65 per cent by 2030
How can China meet its goal of cutting carbon emissions by up to 65 per cent by 2030 from 2005 levels? One possible solution: green buildings.
Cheap and quick is no longer the main criterion for new buildings, which account for about a third of energy consumption on the mainland. Instead, with greenhouse gas emissions expected to peak in China by 2030, a small but growing group of developers are eyeing the long-term revenues and energy savings resulting from greener and healthier construction.
In 2006, China released its three-star rating system on green buildings, which has since been updated. It covers environmentally friendly and energy-efficient construction from the design stage to the operational phase.
"The demand for certification [on the mainland] is very strong," said Alessandro Bisagni, the founder of consultancy Bisagni Environmental Enterprises.
Unlike the more widely used US LEED certification system, China's rating shows a preference for design over building operations, according to consultancy CBRE.
So-called green buildings only account for 1 per cent of existing buildings on the mainland. Still, the pace of expansion is considered trailblazing. China has also become the largest overseas market for LEED certifications on new and old building projects, according to the US Green Building Council.
The number of certified green buildings under the Green Building Evaluation Standard now exceeds 2,600, more than 85 per cent of which were completed after 2012, government statistics show.