Green development in the property sector is likely to be delayed because of the economic slowdown. According to a building consultant, developers are not so eager because its benefits are not substantial in the short-term.
But according to Peter Rawlings, a consultant from the British consultancy Environmental Resources Management, this is a very ideal time for developers to invest in green technology because it is still cost efficient.
During his visit to Singapore for Keppel Land seminar on green buildings, Rawlings told BT that despite some companies and organisations are committed to their green building programme, others are not, especially those who have “not seen the benefits directly yet or they are a bit cautious on their level of investment”.
Singapore’s Building and Construction Authority (BCA) have come up with the Green Mark Scheme, much similar with the LEED (Leadership in Energy and Environmental Design) of the US. Many of Singapore’s property bigwigs have applied for the certification of Green Mark for their regional projects. On the contrary, many developers, especially those who are expanding overseas, are still seeking for their buildings to be rated with LEED.
According to Rawlings, LEED is the dominant rating system in the international context. However, because of different rating systems available, developers are looking for one type of rating system to cover all. He also added that LEED is “a very black-and-white system”. It warrants either a pass or failed credit to developers. In defence of the Green Mark, he says that while there are indefinite criteria for Green Mark, it does not mean that it is lenient.