What is Your Organization’s “Green” Strategy?
March 14, 2007 by jack petrie.
One of 25 “Most-Read Stories”
CRESA Partners’ SVP, Greg O’Brien, recently contributed the following article to ”The CoStar Green Report”:
Color Me Green? - Reviewing Shades of Reality
Tenants are now considering the environmental impact of a building during the decision-making process. As a result of the establishment of the United States Green Building Council and its Leadership in Energy and Environmental Design (LEED) Green Building Rating System, environmentally responsible design and construction practices are now becoming a determining factor in the site selection process. But as with many new concepts introduced into a marketplace, there are significant differences between the common perceptions of green developments and the realities. Let’s take a look at a few.
Perceptions Versus Realities
- Perception: Green buildings cost more to lease or own. Reality: Fundamental green design and construction practices-such as proper orientation of the building, increased day-lighting of the space, reduced irrigation requirements, controlled stormwater runoff, construction waste recycling, and specifying low toxicity materials-are not more costly and can actually reduce ongoing operating expenses.
- Perception: The quality of office space has very little impact on the productivity of the occupants. Reality: Recent studies by major corporations and universities have determined that improving the indoor environmental quality (IEQ) of office space, classroom space, and/or light assembly space improves productivity by 2% - 17%.
- Perception: LEED certification is a complicated, cumbersome, and costly process that is not worth the time and effort. Reality: The recently released LEED 2.1 version is now streamlined, refined, and online. All LEED-registered projects now submit 100% of the required documentation electronically, thereby reducing certification costs and simplifying the documentation process.
- Perception: Corporate America and governmental agencies are not committed to supporting sustainable design and construction practices in their owned and leased properties. Reality: “Triple Bottom Line” accountability (economic, social, and environmental) is rapidly evolving as publicly held corporations respond to the demands of socially and environmentally responsible institutional capital.
Final Conclusion
The time has arrived for the “greening” of the real estate acquisition process. So what is your organization’s green strategy?
About The Author
Greg O’Brien, senior vice president of CRESA Partners in Atlanta and a LEED Accredited Professional created CRESA’s The Green Team to assist corporate tenants with understanding the value of green in their real estate transactions.