
When I say "green real estate," I’m referring to all aspects of the real estate business. That includes the following jobs: developer, owner, third-party manager, agent, broker, investor, architect, contractor, sub-contractor, etc. There is a business case for the greening of real estate, but here are some preliminary considerations.
First, "green building" is not only about energy and water efficiency. It must be remembered that "green building" includes the concepts of indoor air quality and environmental impact. These three concepts can overlap, but they are distinct. Each concept can bring profitability in different ways. Lloyd Alter blogged about this concept (specifically on "ethical design") today on TreeHugger.
Second, "greenwashing" is a pejorative term for companies that are trying to realize value from sustainability when their products, processes, or services do not deserve the green emphasis. It’s free loading. It’s disingenuous. It’s deceptive. And it’s counter-productive. To make matters worse, public opinion will draw the line between greenwashing and green marketing, so companies must tread water honestly.
It’s my personal goal for 2007 to flaunt the business case for sustainable real estate. Here are a couple good examples from 2006.
- Ex 1: Adobe created value by greening their existing building.
- Ex 2: Ecobroker provides a way for agents to differentiate themselves in a competitive market.
- Ex 3: New Resource Bank is a case study in efficient market positioning as a niche bank.
The opportunities exist for companies that want to make a difference and still remain committed to profitability; Jetson Green will remain committed to exposing and documenting those cases.
The Financial Case: Molasky Corporate Center Goes LEED Gold
It’s been one of my personal blog goals to flaunt the business case for green building. According to Richard Worthington, President of Molasky Group, it will take 12-15 years to recoup the extra $5-7 million it cost to build Molasky Corporate Center (M…
Coca-Cola Flaunting the Business Case for Green Renovations
It looks like we can add Coca-Cola (NYSE: KO) to the list of companies that are trying to reduce the impact of business operations. Today, the company announced a collaboration with Georgia Tech Enterprise Innovation Institute to realize reductions in …
Gatorade Building Becomes Largest Green Food Beverage Facility in World
That’s right. Another example of the business case for going green. Recently, Gatorade received LEED Gold-level certification for the Gatorade Thirst Quencher Blue Ridge facility in Wytheville, Virginia. At 950,000 sf, it weighs in as the largest green…
Wachovia to Build 300 Green Bank Centers by 2010
This is a pretty huge announcement. The financial case for green building is so compelling that we occasionally see companies making the green change cold turkey saying, Everything from now on will be green. That’s what Wachovia is doing. First comes n…