Published on February 19th, 2016 | by Joshua S Hill
February 19th, 2016 by Joshua S Hill
A new study has concluded that green building around the globe is expected to double by 2018.
According to the results of the study, the percentage of companies expected to have more than 60% of their building projects certified as “green” is anticipated to more than double by 2018, growing from 18% to approximately 37%. The growth is anticipated to be driven primarily by countries that still have developing green markets, such as Mexico, Brazil, Colombia, Saudi Arabia, South Africa, China, and India, all of which are reporting dramatic growth in the number of projects they are expecting to see certified as green.
“This study offers further evidence on the strong business case for green building – the growth of which is now truly a global phenomenon,” said Terri Wills, CEO of WorldGBC. Wills was interviewed as a thought leader in the study. “Green building is playing a critical role in the development of many emerging economies, particularly as their populations grow and create a pressing need for a built environment that is both sustainable and ensures a high quality of life,” Wills added.
“Green Building Councils and their members around the globe will play a pivotal role in delivering this projected growth, and their leadership and expertise will be vital in realising the multiple social, economic and environmental benefits that green buildings offer.”
Other key findings from the new report include:
- Global green building continues to double every 3 years.
- Brazil expects 6-fold growth in the percentage of companies that expect to certify the majority of their projects green; 5-fold growth is expected in China; and 4-fold growth is expected in Saudi Arabia (from 8% to 32%).
- Building owners report seeing a median increase of 7% in the value of their green buildings compared to traditional buildings.
- The most widely reported benefit globally is lower operating costs.
- The top sector for green building growth globally is commercial construction, with nearly half (46%) of all respondents expecting to do a green commercial project in the next 3 years.
- Reducing energy consumption continues to be the top environmental reason for building green (selected as one of the top two reasons by 66% of all respondents), protecting natural resources ranked second globally (37%), and reducing water consumption ranks third (at 31%).
The new study, World Green Building Trends 2016, Developing Markets Accelerate Global Green Growth, conducted by Dodge Data & Analytics, was made possible with support from United Technologies Corporation and its UTC Climate, Controls, & Security business, on which the World Green Building Council (WorldGBC) was a research partner. The study was based on results of more than 1,000 survey participants from 69 countries.
Image: Dallas skyline via Shutterstock
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