31 Mar 2020
Known as a tool that delivers sustainable, healthy, resilient and positive places for people to work, Green Star in Focus: the business case finds that Green Star brings unrivalled financial benefits to business too.
From attractive tax concessions to higher asset values, Green Star buildings boast decreased operational costs, lower electricity and water usage, and happier, healthier tenants that hang around for the long term.
As a certification that sees a high ROI while helping organisations meet the United Nations Sustainable Development Goals, Davina Rooney, GBCA CEO, says Green Star is recognised as a safe investment in Australia and abroad.
“Investors are demanding action, which is why green finance is growing exponentially. At least $44 trillion is now held in sustainable investments, up 34% from 2016, according to the Global Sustainable Investment Alliance.
“More than $260 billion in Green Star certified projects were included in the 2019 GRESB Real Estate Assessment. As investors look for sustainable safe havens, they need clear and consistent benchmarks to compare assets – and they are turning Green Star to do so,” says Davina.
The report also highlights that Green Star is recognised as a holistic tool and that profits aren’t the only reason certified buildings make an impressive business case. Jorge Chapa, Head of Market Transformation, says there are other key benefits that industry finds appealing.
“There are other benefits, such as helping companies demonstrate leadership, communicate with customers, reduce project risk, accelerate innovation, and inspire supply chain collaboration. More importantly, Green Star is a verification of outcomes. This means that it helps make sure that you are getting what you want through the independent assessment process,” says Jorge.
As the world finds ways to react to a changing climate and other crises, tenants are looking for resilient developments that can respond positively to changes and shocks. Workers are increasingly aware of Green Star’s reputation, with one survey from the US Green Building Council finding that 79% of employees would choose a job in a green-rated building over a non-green building.
“Since the beginning Green Star has had a strong focus on the health and wellbeing of occupants. From introducing more fresh air to spaces, to introducing daylight into the areas that should have it. Green Star allows tenants to check that these features are being delivered,” says Jorge.
Our journey to a net zero future is a long one but it is in sight. Green Star continues to be a cost-effective way for businesses to collectively respond to challenges on the way, while creating healthy, positive and resilient places for people to work and come together.