Sustainability issues encountered by green building construction markets in Asia-Pacific (APAC) have been detailed in the report, Asia-Pacific Green Buildings Market.
For a green building, the sustainability begins with the integrated design approach.
The building construction market in Asia-Pacific was valued at $ billion in 2013 and it is expected to reach $ billion in 2018 at a CAGR of percent.
APAC’s future focus will be on energy efficiency, and green buildings will be in accordance with the carbon footprint reduction target.
APAC countries will see a boom in green building construction driving the economy of green growth. Energy and water use optimization will be the key word for sustainable construction.
Japan, South Korea, Australia, and Singapore will focus on retrofits while other countries will focus on new constructions.
The sustainability of the green status and functionality of the green aspects are the major issue to be managed in this sector.
In addition to conceptual approaches and evaluation criteria, green buildings should be made sustainable throughout the lifecycle. Several perspectives are yet to be adopted and achieved by all stakeholders in the market.
Seven sustainability perspectives that must be understood by market participants are competitive synergy and ratings, policies, economic and financials, awareness, workforce, convergence, standards and best practices.
Future policy improvements have to be focused on five major areas to guarantee quality growth of the green buildings market.
Despite the good investments and return, green buildings are costlier than traditional buildings.
Innovative financial tools have to be highlighted to cross financial obstacles in the green buildings market.
Training and capacity building activities are major factors to increase awareness and to ensure sustainability principles knowledge, specific to green buildings among stakeholders.
Competition exists among companies in the value chain. The government is racing ahead with the most advanced policies, innovations, and support in the green buildings market. Some countries implement a number of rating systems for green buildings.