Study: international green office space growing
Toronto skyline via iStockPhoto.com
Canada’s Vancouver and Toronto have the most office real estate to achieve green certification, according to a recent study by CBRE.
According to the first International Green Building Adoption Index, 18.6 percent of office space in 10 markets across Australia, Canada and Europe is now certified “green” compared to only 6.4 percent in 2007.
Vancouver (51.6 percent) and Toronto (51 percent) top the list of international cities, followed by Sydney (46.5 percent) and Melbourne (28.8 percent). London sits bottom of the list of 10, with just 8.7 percent of its office space classed as green.
“Buildings, particularly commercial properties, have long been at the forefront of pressing issues like water, waste, and significant energy use and the resultant carbon emissions," said David Pogue, CBRE’s senior vice president, Global Client Care/Sustainability. “As the attention being paid to these issues grows, green building certification programs are becoming much more prevalent and more important to a variety of constituents and stakeholders.”
The 18.6 percent of space certified as "green" in the top 10 markets represents more than 227 million square feet of green space, out of a total of 1.2 billion square feet of office space reviewed.
The Australian cities of Sydney and Melbourne have seen green office space grow from less than 1 percent in 2006 to their current respective levels of 46.5 percent and 28.8 percent
Rest of the Top 10
- Warsaw: 21.3 percent
- Frankfurt: 17.5 percent
- Stockholm: 12.6 percent
- Amsterdam: 11 percent
- Paris: 9.1 percent
In the United States, 20.2 percent of the Manhattan office market was certified by LEED in 2016, compared to just 0.3 percent in 2006, according to data from the U.S. Green Building Adoption Index.
“Despite the presence of a wide variety of local building certification programs, internationally recognized green building certificates tend to be more widely adopted in the commercial real estate market," said Dr. Rogier Holtermans, project lead on the International Green Building Adoption Index. "Tenants and investors need such standardized measures of environmental performance.”