Green building make Business Sense

As part of Bharathidasan University Entrepreneurship, Innovation and Career Hub (BECH) Awareness series program, M Selvarasu, Managing Director, LEAD Consultancy and Engineering Services (India) Limited, Bengaluru, acted as guest speaker and delivered a talk on Green Buildings make ecological and business sense in the pursuit of sustainable development. Following is the summary of his presentation.

In tandem with the global agenda of sustainable development goals, the Government of India’sintroduction of robust Energy Conservation Building Codes (ECBC) for energy and smart city development in India is a drive towards the emphasis on green growth.  State Governments are also setting up ECBC cells to ensure energy codes are implemented to the immense demand for energy generation and provide energy security to all of us. Furthermore, green buildings rating systems to have been launched recognize the efforts and award innovations which eventually are set to improve the sustainable built environment.  Currently more than 50 types of rating standards are practice to address different types of the built environment such as Hospitals, IT parks, cities, campuses, interiors, Metro rail, Railways, Hotels, Factories, Villages, Data centres, etc. Interestingly, more than 7.0 billion sq. ft of space in India had registered for green implementation and to obtain certification. This is expected to touch around 10 billion sq. ft by 2020. Such a leap will place India in No.1 position in the world, albeit at present enviable 2^nd position, next to the USA.

There are 3 major programs in India, namely leadership in energy and environmental design (LEED) from USGBC, Indian Green Building Council (IGBC) IGBC and Green Rating for Integrated Habitat Assessment (GRIHA). The entire movement started post then US president Mr. Clinton visit to Hyderabad in March 2000. Currently more than 4500 green buildings constructed in this country HAD demonstrated several benefits, which includes

·        Annual energy savings to the tune of 30 to 40%

·        Water savings of around 40 to 50%

·        Provided healthy indoor environment to occupants to improve productivity

·        Branding corporate in the international market

·        Provided a new business opportunity for sustainability consultants and manufacturers in this country

·        Demonstrating their commitments to environment, etc.,

Many state govts understood the benefit in going for green and hence introduced incentive schemes to promote mass adoption; this includes west Bengal & Himachal Pradesh with additional FAR of 10%, Property tax rebate by Pune & Pimpri municipalities, Property tax benefit up 15% from Haryana govt, additional 5% FAR from UP & Punjab govt, MOEF giving priority project clearance,  25% subsidy on total fixed capital investment of the project  from Andhra Govt, etc., This, in turn, motivates several building owners to go Green.

Also, the Indian green building council bring program namely “Green pro certification” to rate products green, which can be widely used for projects to reap maximum benefits. It is estimated to touch business potential of INR 18 lakhs crores for certified green products in India by 2022.

By looking at the green journey, surely India will become a world leader by 2022 in terms of largest Built environment and also a major producer of green products to the entire world. The move is in this direction. Of course, need to have strong stakeholders’ engagement in this direction with a more aggressive policy frame works and also imparting green education for youth to take this lead to greater height.