Generating Green Value by Going Green

A recent Green Value environmental study from the Royal Institution of Chartered Surveyors looked at buildings in North America and the UK and found that a clear link is beginning to emerge between the market value of a building and its green features. This research found that not only are green buildings good for the environment, they provide more productive places to work, can command higher rents and prices, attract tenants more quickly and reduce tenant turnover, and cost less to operate and maintain. This is defined as 'green value', the net additional value obtainable by a green building in the marketplace.

Building on a clear interest by the commercial real estate industry in going green, environmental certification programs, such as BOMA BESt for existing commercial buildings, are emerging as a means for building owners and managers to enhance the 'green value' of their buildings and facilities.

At the BOMA BC Awards of Excellence in May 2007, the Hon. Gary Lunn, PC, MP, Minister of Natural Resources Canada, recognized the commitment BOMA is making to energy efficiency and the greening of the commercial building industry by establishing the Green Buildings Foundation...

"In today's world it is critical that we properly manage Canada's natural resources. They are essential to our present and future prosperity, and that is why our Government is taking action to achieve results that benefit both our environment and our economy through the ecoACTION plan. Achieving energy efficiency is a key part of this plan, and it cannot be done without the support of Canada's business community. By establishing the Green Buildings Foundation, BOMA has recognized that there is an opportunity to make our businesses more competitive and profitable, while simultaneously conserving our precious resources. Furthermore, the BOMA BESt initiative launched by BOMA Canada is an important step in paving the way for energy efficient buildings across the country. The Government of Canada supports BOMA in its work, and we will continue to help businesses become more efficient through the ecoENERGY Initiatives. This includes the ecoENERGY Retrofit Incentive for Buildings, a program that relates directly to BOMA and all of its associated companies. Businesses can receive $10 for every gigajoule of energy saved, adding up to 25 percent of eligible project costs, to a maximum of $50,000. Energy retrofits and practices in existing buildings can save an average of 20 percent of energy costs which adds up to huge savings annually. I often say that the largest source of energy is the energy we waste. On behalf of Canada's New Government I would like to thank BOMA for its commitment to energy efficiency, and we look forward to a cleaner, greener future for all Canadians."

Hon. Gary Lunn, PC, MP
Minister of Natural Resources Canada

Lesley Heieis with Hon. Gary Lunn
Lesley Heieis, President of BOMA BC, with the Hon. Gary Lunn, PC, MP, at the BOMA Awards of Excellence in Vancouver, BC.


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