More than half of executives said their companies would be extremely or very likely to invest in improved indoor environmental quality (63%), improved water efficiency (57%), and green materials (53%) if they were undertaking a construction project.
"Energy efficiency figures prominently in the decision-making process of green building primarily because of its large economic impact. Water efficiency in green construction was seen as less important. This is in spite of a growing awareness that water is a finite resource, both in its operational use and its role in the production of goods and materials. While the direct economic impact of water efficiency is less than the savings on energy, its environmental impact is quite significant," said Michael Deane, Vice President and Chief Sustainability Officer at Turner Construction.
Fewer Companies Plan to Seek LEED Certification
Although the vast majority of companies remain committed to green buildings, the percentage of executives who thought it was extremely or very likely that their company would seek LEED certification if they constructed a green building was only 48%, down from 53% in the 2010 survey and 61% in the 2008 survey. Among executives who said their companies were not likely to seek LEED certification, the most important reasons cited were the cost of the certification process (82%), staff time required (79%), time required for the process (75%), and the overall perceived difficulty of the process (74%). It is apparent that in the last four years many companies seem to have become more knowledgeable about the means and methods of designing and constructing green buildings and are less reliant on LEED as a checklist or a scorecard, as indicated by 52% of executives saying that they were only somewhat or not likely to seek LEED certification when undertaking a construction project. At the same time, 41% of executives thought it was at least somewhat likely that their companies would consider seeking certification under a rating system other than LEED if they constructed a green building. Of those executives who indicated they would consider another system, 63% said they would be extremely or very likely to consider seeking certification under ENERGY STAR, which again highlights the importance of energy efficiency. It should be noted that building owners may elect to certify under more than one rating system.
"We've seen from our own work and the continuing growth of the green building market that in spite of this reduction in enthusiasm for LEED certification, respondents are still building green," said Deane. "While some respondents are relying on their own standards or are considering another rating system, LEED certification remains the most widely used third party verification of achievement that is recognized by consumers and that can be used to market and promote a property."
Concerns Persist about Construction Costs and the Length of the Payback Period
When asked what length of payback period would be acceptable when considering green features, 44% of executives said they would accept five years and almost 80% of executives said they would accept a payback period of five years or longer. Despite the acceptance by most executives of an extended payback period, 61% of executives still felt that the length of the payback period was an extremely or very significant obstacle to the construction of green buildings while 62% cited higher construction costs.