As stated by the World Green Building Council (WorldGBC), a green building is “a building that, in its design, construction or operation, reduces or eliminates negative impacts, and can create positive impacts, on our climate and natural environment.” Even with these clear benefits, green building adoption still lags in developing countries due to existing and/or perceived barriers.
Angelo Tan of IFC mentions in his article entitled ‘Proptech paves the way for green building adoption in developing countries’, published in the ARES digital White Paper Vol. 1, that in Southeast Asia, there are still impeding perceptions of going green such as higher costs and accessibility only for high-end buildings.
However, there are people and organisations who are coming up with more programs that can pave the way for green real estate, such as IFC’s Green Building Market Transformation Program that covers investment & advisory to banks and developers, EDGE certification, and green building codes & incentives.
Additionally, we often hear about the several renowned sustainable architectures around the world such as the Pixel Building (Melbourne, Australia) or the Museum of Tomorrow (Rio de Janeiro, Brazil), and expect to develop the same buildings.
However, it is important to remember that not all green buildings have to be the same, as all countries are different – ie. culture, climate, economic priorities – so their characteristics will influence their approach to green building.
Various features can make a building ‘green’, including efficient use of resources, pollution and waste reduction, good indoor air quality, and more. Hence, it is about using the right tools, technology, and approach to make sustainable, resilient, and affordable buildings.
Read more about the emergence of green buildings in developing countries at asiarealestatesummit.com/ares-digital-white-paper-vol-1/
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