October 25, 2014
Market Study Shows 250% Growth in Alternative Rating Systems
The Green Building Initiative notes the key findings of the just released biennial Green Building Market Barometer by Turner Construction. Turner's 2014 Green Building Market Barometer shows that interest in Green Globes and other alternative building rating systems is up 250% in two years.
According to the study of more than 300 executives of market participants, “Respondents … expressed a significantly increased interest in alternative rating systems such as Green Globes, EnergyStar and others, with 43% of respondents saying they would be extremely or very likely to seek alternative certification [from LEED®], significantly more than the 2012 number of 17%.”
“The market for green building certification is clearly changing,” said Jerry Yudelson, GBI’s President, “with building owners more interested in cost-effective rating systems that help them to design and operate commercial properties. We view this as a positive sign for the future growth of the Green Globes family of green building rating systems.”
Other highlights of the study state that “the financial factors most highly rated in the decision-making process to incorporate green features in construction projects were energy efficiency, asking rents, ongoing operations and maintenance costs, and occupancy rates.” Additionally, “attention to benefits on employees and occupants is increasing; recognizing the importance of an organization's reputation for sustainability in its ability to attract and retain talented employees, employee hiring/retention was rated as extremely or very important by 62% of executives, up from 49% in the 2012 survey.”
“Green Globes serves owners’ most important priorities: cutting future operating costs, reducing energy spending and sending a positive signal of sustainability commitment to their stakeholders. A Green Globes certification supports these priorities and indicates significant achievement in sustainable design, construction and operations,” said Yudelson.
Green Globes is a web-based system that provides for green building guidance and certification which includes an onsite assessment by a third-party Assessor, typically a licensed architect or engineer. The program has modules supporting new construction and major renovation (Green Globes for New Construction), existing buildings (Green Globes for Existing Buildings), tenant improvements (Green Globes for Sustainable Interiors), and healthcare buildings (Green Globes for Healthcare). It is suitable for a wide range of buildings from offices, multi-family structures, hospitals and institutional buildings.