Building Green Real Estate for Asia’s Next Generation

By the year 2020, an estimated 2.2 billion of the world's population will live in Asian cities. According to the Cities Development Initiative for Asia (CDIA) Concept Note entitled Building Urban Resilience and Green Cities, the number is equivalent to 52% or more than half of the global population. In addition to an increase in opportunities and building up the economy within the region, this expansive population growth in Asian cities also brings about an increase in greenhouse gas (GHG) emissions which will impact our continued fight against climate change.

Given this projection of growth, the most feasible way for Asian cities to secure a sustainable future is to initiate green building practices and make green real estate the standard.

The 2013 International Green Building Conference

The recently concluded 2013 International Green Building Conference (IGBC) held at the Marina Bay Sands Expo and Convention Center in Singapore, hopes to lower the Asian share of global GHG emission levels by building and increasing green real estate within Asian cities.

During the opening remarks of Teo Chee Hean, Singapore’s Deputy Prime Minister and Minister for Home Security & Home Affairs, explained why the World Engineers Summit coincides with Singapore’s Green Buildings Week, the Build Eco Xpo Asia, and the IGBC. The Deputy Prime Minister summed it up nicely when he said that “the magnitude and complexity of the various issues presented by climate change to the region requires a multi-disciplinary response.”

To steadily initiate green building practices in Asian cities, engineers, construction material manufacturers & suppliers, and green building experts must collaborate. Green building experts can guide construction material manufacturers to conceptualize more innovative green building materials such as energy efficient retrofits. Additionally, engineers can break away from traditional, non-sustainable building practices and learn green building techniques from seasoned experts.

Building Construction Authority’s Green Mark

Singapore is taking the lead in constructing green buildings and committing that by 2030, 80% of their new and existing structures will be Building and Construction Authority (BCA) Green Mark (GM) certified. Similar to Leadership in Energy & Environmental Design (LEED) certification, GM certified buildings have the potential to positively affects a business’ corporate image, leasing, resale value of the property, and most importantly, poses a benefit to the environment.

Specifically, benefits of adhering to GM standards include reduced water and energy costs; mitigated environmental impacts of the building and its occupants; improved indoor environmental quality for a healthy and productive place to live or work; and a clear direction towards continual improvement of the building and, ultimately, the metropolis.

A national green building standard such as the GM certification program ensures that engineers, construction materials suppliers, building owners, local government officials, and green building professionals have a clear set of guidelines and goals when it comes to establishing a greener real estate. More than ensuring the rise of green real estate, the GM certification program guarantees that green buildings will be constructed while suiting the unique culture and the specific needs of Singaporeans.

Extensive Synergy: The Key to the Rise of Green Real Estate in Cities in Asia and Around the Globe

Sustainability takes a concerted effort between governments, businesses, and the community to mitigate the effects of climate change, curb GHG emissions, and for businesses and governments to remain both economically and environmentally viable. Real estate sectors around the world need industry professionals and all stakeholders to continue to openly collaborate, and be guided by comprehensive, tailor-fit green building standards.

FirstCarbon Solutions (FCS) offers more than just monitoring and gathering emissions data. FCS provides the expertise your organization needs to help identify areas of potential savings, assist you with planning and implementing sustainability strategies, and strengthen your green initiatives with customizable solutions tailor fit to suit your objectives and goals. Click the button below for a free consultation.