Green Buildings : A Sustainability Initiative in Real Estate Sector

The concept of ‘green building,’ i.e., the practice of using resources more efficiently while creating healthier and more energy-efficient buildings, has become more prevalent in recent years. Energy-efficient buildings are seen by climate change experts as one of the least-cost approaches to mitigating greenhouse gas emissions. Wider application of green building practices makes good economic sense because today, more than ever, the issue of sustainable development is at the forefront of how communities have been thinking about growth and the responsibility of government to create ways to accommodate growth while decreasing the carbon footprint of human habitation.

Green building (also known as green construction or sustainable building) refers to a structure and using process that is environmentally responsible and resource-efficient throughout a building’s life-cycle: from sitting to design, construction, operation, maintenance, renovation, and demolition. Energy, buildings and the environment are interlinked in a symbiotic relationship and the results of this interaction can be optimized for maximum gains by convergence of Green and Intelligent building concepts. The Green Building practice expands and complements the classical building design concerns of economy, utility, durability, and comfort. Hotels, Residential Buildings/ Townships, Malls, Office spaces, Hospitals, Factory Buildings, Airports and Educational Institution , these are the types of buildings that can apply for green building certifications.

LEED certification

Developed by the U.S. Green Building Council (USGBC) in 2000, the LEED (Leadership in Energy and   Environmental Design) rating systems are developed through an open, consensus-based process led by LEED committees.. As an internationally recognized mark of excellence, LEED provides building owners and operators with a framework for identifying and implementing practical and measurable green building design, construction, operations and maintenance solutions. LEED certification provides independent, third-party verification that a building, home or community was designed and built using strategies aimed at achieving high performance in key areas of human and environmental health: sustainable site development, water savings, energy efficiency, materials selection and indoor environmental quality.

For a building to declare as a green building requires a certification by IGBC (Indian Green Building Council), in India.IGBC gives LEED certificate for only those buildings that fulfills the criteria set by IGBC; points are given for every area of conservation i.e. on energy, water, electricity etc. LEED, or Leadership in Energy and Environmental Design, is redefining the way we think about the places where we live, work and learn.

The Indian Green Building Council (IGBC), The Energy and Resources Institute (TERI) are actively promoting green buildings in India.

Blog by

Prof Rajlaxmi Pujar,
Indira School of Business Studies.

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