Though energy-efficient systems are not yet the norm, 70% of companies in Asia Pacific are willing to pay a premium to rent spaces in sustainable buildings. Why is this the case, and what exactly does it mean to make a building sustainable?
South China Morning Post’s Asia Sustainability Conference returns in 2021 with a panel discussion on the green buildings of the future. Though energy-efficient systems are not yet the norm, 70% of companies in Asia Pacific are willing to pay a premium to rent spaces in sustainable buildings. Why is this the case, and what exactly does it mean to make a building sustainable?
The panel discusses on the meaning behind what it truly means to make a building sustainable, and what does this mean for the green building of the future.
Founder & President of BEE Incorporations Alessandro Bisangi says the competition between building developers is now about “who has the greenest, the healthiest, and the most innovative building,” as opposed to who has the largest or tallest building. This new metric for comparison is good news, as “there’s not even a question anymore of whether we should go green,” Founder of GreenA Consultants, Farizan d'Avezac de Moran says, because it is an absolute necessity due to the threat that climate change poses.
Though it may seem a difficult feat to convince current building owners to go green, it may not be as complex of an issue as previously thought. “Regulation and standards really do drive existing buildings to integrate and improve their performance,” Helen Amos, Regional Environmental Sustainability Lead at JLL says. In other words, both government mandates and tenant expectations are driving building owners and developers to go green in order to meet requirements and appeal to their consumer base.
Helen Amos, Regional Environmental Sustainability Lead at JLL, mentions how "regulation and standards really do drive existing buildings to integrate and improve their performance."
One of the main issues with traditional buildings in general is that they are an enormous energy sink for cities. This is why “looking at energy performance is key,” Helen remarks, but “getting access to that data is often a real challenge.” Many green buildings are better able to measure energy usage and other important metrics, which is one of the main reasons that people are prepared to pay a higher price for tenancy.
Despite the possibly higher prices associated with green buildings, it is important to remember that “implementing sustainability has a perceived cost, but it’s not always more costly,” Founder & President of BEE Incorporations, Alessandro Bisangi says.
When considering the future of green buildings, it is important to remember that “implementing sustainability has a perceived cost, but it’s not always more costly,” Alessandro says. Despite the possibly higher prices associated with green buildings, building owners and developers have much to gain from going green. The financial, environmental, and social long-term benefits are more than worth the effort it will take to transition to sustainable practices.
Access to our playback videos of the conference are available for ticket holders (LEARN, ELEVATE), please visit our website for more information.
