is a pattern which shows that high performance buildings attract occupants and drive higher sales and rental prices. In this study one cannot generalize that the cost of these assets increases in all markets since each market has its very special variants (regulations, standards, policies, incentives, etc). However, it is evident that in most mature markets there is a behavior trend called “Brown discounts”. It means that, as customers/tenants/buyers are more and more educated about the benefits of high performance buildings, when they are looking for an option in the traditional market, they request discounts from the owner or leasing agent to compensate for the expenses of inefficiencies in energy consumption, water and maintenance among others, which they will incur as tenants of the property.
RISK MITIGATION
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he report states that the adverse effects of climate change, the resilience of new buildings and factors such as new regulations, standards and policies, should be considered by investors and project developers. Not considering these variables can increase the risk of the investment and of ending up with obsolete constructions, for example building projects that after 3 or 5 years of being built are not as competitive as those buildings that were made considering these variables. Already there is evidence of these radical changes in other markets, as for example in
Singapore where 80% of existing buildings must be certified by Green Mark in 2030. This is a local certificate that establishes the minimum requirements that a building must meet to be considered high performance. In Australia experts such as Daniel Groll, President and owner of Grocon, the largest development, construction and private investment company in Australia, says that “If you are not building Green Star, you are building obsolesce “. (Green Star is the local Australian certification for high-performance buildings.) anama is not very far from this reality. This past May 15th, PGBC facilitated talks between the IFC, the MEF and the SNE resulting in the signing of the agreement for the implementation of the EDGE program (Excellence in Design for Greater Efficiencies) in Panama. This program consists of three components: • Market study raising the base lines for energy, water and material consumption in traditional buildings in Panama. • Proposal for a green building code. This past May 15th the agreement between IFC-MEF and SNE to start developing the same was signed. • Voluntary certification. The third component will be a voluntary certification through which residential projects that undergo this process will get incentives of brand enhancement and differentiation in the market through social and financial responsibility.
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HEALTH AND PRODUCTIVITY
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inally, the report concludes that the greatest opportunity that exists in the construction of high performance buildings lays in the tenant productivity and health. Some attributes of the design have been shown to improve indoor environmental quality including increased fresh air, proper amount of daylight indoors and views — in particular, views towards nature landscapes. The report summarizes the different studies around the world which sustain that brain function and memory increases between 10 to 25% in those who work with a view to a green area. Similarly, they show that hospital stays for sick people decrease 8.5% when their rooms are overlooking a green area. Other impressive results include increases of 18% in productivity in those workers who enjoy a source of natural light in their offices. Wallmart Stores have shown an increase from 15 to 40% of sales in those buildings which have natural light. espite the evidence of its positive impact, improving indoor environmental quality has not been a priority in the design and construction of buildings, and there is still resistance to incorporate these measures from financial decision makers. The WGBC is currently focusing its efforts in gathering information and analyzing it to present the case of the green building impact on the productivity and health of their tenants.
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EKKOONN 15