According to recent data from Pike Research, nearly a third (30 percent) of all green building certifications by 2020 will be for existing buildings. Programs like the Leadership in Energy and Environment Design (LEED) and the Building Research Establishment Environmental Assessment Method (BREEAM) provide guidelines for buildings such as: energy efficiency, sustainable materials selection, site location, and indoor environmental quality.
It’s no wonder that LEED and BREEAM certifications can mean higher property values, rents, and more competitive real estate markets. Countries like China and India are jumping on the bandwagon and quickly adapting green building certification to their markets, as well. Neat fact: Currently, the total space worldwide covered by green building certification programs is six billion sq. ft.—and the data says that that number is going to jump to 53 billion sq. ft. by 2020.
Hopefully sustainable initiatives will continue to remain a focal part of construction projects even after the economy is more stable. I know that as long as President Obama is still in office sustainability will remain important for the United States. Last spring Obama said, “…green building is at the nexus of creating jobs, saving energy, and saving money.” I believe that those three things will still hold true even in a few years when our economy is more stable.
— Lindsey Collier