China is known for their great population, inventions and booming market, however as of last month they have become the 2nd largest market for green buildings.
It all started in 2011 when China initiated a five-year plan with the goal of reducing the country’s overall energy use by 16% per unit of domestic product (GDP) and reduce carbon emissions by 17% per unit GDP. Since building construction and maintenance account for about 25% of all energy consumed in China, state regulators started focusing on the implementation of green and energy efficient practices when it came to new and established constructions. With green buildings, businesses where able to incorporate design, construction and operation practices that use sustainable materials and that are energy efficient and save water.
The early adopters of this trend were large multinational corporations, however it has shifted and expanded beyond the small niche. With different types of promotional policies created by the Chinese government, more and more local enterprises are getting on the sustainability bandwagon and becoming interested in the US Green Building Council’s green building label – LEED.
According to the USGBC, Greater China has become the 2nd largest market for LEED certification (read the full report here) While the United States still lead the market with about 9970 LEED certified buildings, China’s interest is growing at a fast pace. Currently there are more than 727 LEED registered ongoing projects, from which an average of 171 have already achieved the certification.
Want to know more about what we are doing in Asia? Read this interview with the head of Falcon Asia.