According to the Canada Green Building Council and McGraw Hill Construction, the green building market is expected to see strong growth over the next several years. The Canada Green Building Trends: Benefits Driving the New and Retrofit Market report, released June 18, found that surveyed firms expect to grow their green practices from one third to one half by 2017.
The study showed that those companies that have made the commitment to adopt greener building strategies and practices are seeing significant benefits including:
- When compared with similar buildings, 82 per cent of building owners and developers report reduced energy consumption in green buildings
- 62 per cent report reduced water consumption in their green buildings
- Firms with green buildings report a median reduction in operating costs of 17 per cent over a five year period
- Green renovation projects increase building asset values by a median 4 per cent
Although return on investment was considered an important factor in the decision of most firms to “go green,” those surveyed also indicated social influences for their choice. In fact, 42 per cent of respondents said that client demand and ‘doing the right thing’ were their top two deciding factors and 60 per cent believe that a green building’s ability to promote health and well-being among residents is the most important social reason for their investment.
“This report confirms that the Canadian marketplace recognizes that a rigorous approach to green building improves the quality of building projects and sets the stage for realizing financial, environmental and health benefits,” says Thomas Mueller, President and CEO of the Canada Green Building Council. “The business case for green buildings in Canada is strong, which translates into growing demand and investment over the next three years.”
The full report can be viewed on the Canada Green Building Council website.
