September 17, 2007—Key players in real estate and construction across the world overestimated the cost of building “green” by 300%, according to a new study by the World Business Council for Sustainable Development (WBCSD).
Respondents to a 1,400-person global survey estimated the additional cost of building green at 17% above conventional construction, more than triple the true cost difference of about 5%, says WBCSD. At the same time, survey respondents thought greenhouse gas emissions by buildings were 19% of the world total, while the actual number of 40% is double this.
WBCSD says this perception creates a barrier to more energy efficiency in the building sector, and offers a significant opportunity for education and training worldwide.
The study also found that fewer than one in seven industry respondents has participated directly in a green building project. Involvement ranges from a high of 45% in Germany to just 5% in India. About 20% of architects, engineers, and developers have been involved in green building projects, compared to just 9% of owners and tenants.
The findings are disclosed in a new report titled Energy Efficiency in Buildings: Business Realities and Opportunities (.pdf file), which summarizes the first phase of the WBCSD’s Energy Efficiency in Buildings Project. The project is a three-year initiative to assess the environmental impacts of buildings and develop means to achieve zero net energy use for residential and commercial buildings.
