Sustainable building is proving it’s not just a green fad as its popularity accelerates across the world.
A new study from McGraw Hill Construction showed that both the public and private sectors are more willing to embrace green building and to make energy efficiency a priority.
However, studies have also found upfront costs and regulations could impede this progress.
The McGraw Hill study surveyed 800 organisations from 65 countries and more than half planned for more than 60 per cent of their work to be green by 2015, which is up from 28 per cent in 2012 and 13 per cent in 2009, according to Jessica Cheam of Eco-Business.
The reasons for going green are also changing, with market growth being driven by building owners being more focused on sustainability as well as client and market demand for green buildings. Therefore, sustainable buildings and environmental awareness is good for business.
“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,” McGraw-Hill Construction industry insights and alliances vice president Harvey Bernstein said. “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.”