Green building taking off as a global trend
February 28, 2013
Innovations like construction reporting tools aren't the only cutting edge technologies taking off in the industry. According to a recent report compiled by McGraw-Hill Construction and United Technologies, green building is becoming something more businesses are beginning to invest in due to sustainability and energy efficiency initiatives, as well as driving business value. Fifty-one percent of firms that took part in the survey are planning more than 60 percent of their work to be green by 2015.
"This report confirms that the green building movement has shifted from 'push' to 'pull' - with markets increasingly demanding no less than green buildings," said John Mandyck, chief sustainability officer for UTC Climate, Controls & Security.
Green building gaining traction around the world
Client and market demand for green buildings are just a few of the motivations for why businesses are beginning to construct a majority of their projects with energy efficiency in mind. Firms are also more likely to lease out their green buildings because 76 percent of respondents believe such projects lower operating costs.
"By promoting greater efficiencies for energy and water, green buildings lower building costs while conserving the earth's precious resources," said Mandyck. "This powerful combination of built-in payback with environmental stewardship creates a new value proposition that is accelerating green building in all regions of the globe."
Firms diving into green innovations
Many respondents to the survey had already been experimenting with green building tactics such as electrical, mechanical, and thermal and moisture protection innovations. But now with sustainability becoming more mainstream, businesses are projecting they will be using more green building product. The report revealed 89 percent of global industry professionals report using or specifying a green building product in 2012, while in 2017, 91 percent of companies are expecting higher levels of specificity when it comes to components of green building.
"The acceleration of the green building marketplace around the world is creating markets for green building products and technologies, which in turn will lead to faster growth of green building," said Harvey Bernstein, vice president of industry insights and alliances at McGraw-Hill Construction. "And the fact that green is growing in all parts of the world indicates that there are market opportunities in both established markets as well as developing countries."