The Interplay of Social & Economic Impacts of Green Buildings
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Transcript of The Interplay of Social & Economic Impacts of Green Buildings
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THE INTERPLAY BETWEEN ECONOMIC AND SOCIAL IMPACTS OF GREEN BUILDINGSSB08 Special Forum 12 –
Triple Bottom Line (TBL) Case for Green Buildings: Cost, Community Social Responsibility (CSR) and Workplace Productivity
DAVIS LANGDON Authors: M Beattie, L Gardiner, P JamesSession Speaker: Leon Gardiner,
Director - Davis Langdon
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Triple Bottom Line (TBL) Case for Green Buildings: Cost, Community Social Responsibility (CSR) and Workplace Productivity
This presentation is about the evaluation of the economic and social impact of green buildings on existing buildings
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Existing buildings
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Triple Bottom Line (TBL) Case for Green Buildings: Cost, Community Social Responsibility (CSR) and Workplace Productivity
Only an holistic objective property assessment of all CSR factors, inclusive of the impact of green building criteria, will provide property owners with a comparative triple bottom line perspective of their existing properties across the portfolio
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Triple Bottom Line (TBL) Case for Green Buildings: Cost, Community Social Responsibility (CSR) and Workplace Productivity
We must also provide owners with uniform economic CSR evaluations about what needs to be done to improve their properties (to meet contemporary standards) so that they can increase their property yields, develop refit options or where necessary strategies to exit their existing properties.
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Triple Bottom Line (TBL) Case for Green Buildings: Cost, Community Social Responsibility (CSR) and Workplace Productivity
Effective CSR advise requires an independent comprehensive assessment of each property in the owners portfolio.
This assessment must cover not just green building issues but all of the CSR criteria.
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Triple Bottom Line (TBL) Case for Green Buildings: Cost, Community Social Responsibility (CSR) and Workplace Productivity
Future property transactions will demand more CSR advice.
Conventional due diligence and a local green building rating and categorising will no longer be enough as buyers and tenants demand “forensic evidence” of property compliance and green lease risk mitigation objectives.
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The “Triple Bottom Line”
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Triple Bottom Line - Perspectives
> Geographical> Time> Discourses / Paradigm Views
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The “crime scene” needs to be extended
Geographical
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Time
Project life cycle to inter-related issues
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Discourses / Paradigm Views
The importance of understanding current discourses
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Economic Interplay Considerations
Economic Rationalisation discourse currently dominants all green building debate but its scope is actually very confined – something its critics are keen to point out.
This economic rationalisation now requires TBL reporting on key factors:
> Carbon exposure as perceived by insurance and credit risk > Reporting of non financial material; eg social equity and> CSR assessment and compliance; inclusive of green
building status
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Social Interplay Considerations
These key factors must provide:
> Uniformity and consistency of assessment
> Auditability transparency
> Disclosure
> Owner advice and comparative analysis
> Benchmarking
> Risk mitigation and continuous improvement
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Review of Existing Building/Property Assessment Tools
Tool /Criteria
BREEAM LEED Green Star
CASBEE IPD Environment
Code
Global Green Rating
DL Property Performance
ReportingLaunch Date 1990 1998 2003 2004 2008 2008/09 2008
Domain UK US Australia Japan Global Europe Global
Units Certified* 110808 1823 50 23 0 0 3013
Units Certified* 110808 1823 50 23 0 0 3013
Domestic 109450 540 N/A N/A 0 0 0
Non-Domestic 1358 1283 50 Not Known 0 0 3013
Sectors Covered 11 8 7 Not Known 14+ NotKnown
All
Planning No No No Yes No No Yes
Design Yes Yes Yes Yes No Yes Yes
Existing / Operation
Yes Yes Yes Not Known Yes Yes Yes
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Tool /Criteria
BREEAM LEED Green Star
CASBEE IPD Environment
Code
Global Green Rating
DL Property Performance
Reporting
Environmental Yes Yes Yes Yes Yes Yes YesGHG Protocol Compliant
No No No No Yes No Yes
Water & Waste No Yes No Not Known Yes NotKnown
Yes
Social Equity No No No No No Yes YesProperty condition and compliance
No No No No No No Yes
AS 4360 Risk Mgt &continuous improvement
No No No No No No Yes
Independent recommendations
No No No No No No Yes
Remedial Cost Estimates
No No No No No No Yes
International web enabled access
No No No No No No Yes
Uniformity &consistency across rating tools
No No No No No No Yes
Economic No No No No No No Yes
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Review of Existing Building/Property Assessment Tools
Key observations:
> Very few provide holistic CSR coverage
> Very few provide economic evaluation
> Very few provide international application
> Very few provide in depth social evaluation
> Very few provide risk and benchmarking
> Only one includes property compliance
> Most are focused only on green building sustainability which leaves
the property owner uninformed
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ConclusionsTo achieve effective Cost, Community Social Responsibility (CSR) and Workplace Productivity for industry we must provide property owners with holistic CSR assessments of their properties to meet owners TBL imperatives.There is a:
> Need for standardised assessment methodology
> Need to address property specific economic drivers
> Need to address property specific social and compliance drivers
> Need to provide consistent risk management and benchmarking
> Need to be provide comparative multi-sectoral diagnostics
> Need to be international