Introduction to Green Buildings

What are green buildings?

Green buildings represent a major global investment opportunity and are vital to reach climate goals. Globally, buildings are responsible for more than a third of global carbon emissions, and 40% of the energy we use. Green buildings preserve precious natural resources, use very little energy and provide services at the lowest operational costs and highest quality and in addition to these benefits, they create jobs, support local businesses and have a social and well-being dimension too. Characteristics of green buildings are: 

1. Efficient use of energy, water and resources

2. Building integrated renewable energy technologies 

3. Use of sustainable materials

4. Measures to reduce pollution & waste

5. Measures to improve indoor environment and thermal comfort 

Why do we need to green existing buildings?

Now, rather than building entirely new buildings there are measures and technologies we have that can be used to make existing buildings greener. This is really important, because a high proportion of existing buildings will still be standing in 2050. To reach minimum targets defined in the Paris Agreement, rates of basic green renovations of existing buildings in these countries must reach 6-8% by 2040.

Existing buildings can be greened by techniques and practices such as insulation, installation of roof solar panels, triple glazed windows, heat pumps, energy management systems, smart appliances, heat exchangers, passive measures, just to name a few. 

The approach to introduce energy efficiency measures in buildings comprises of 3 steps:

• Detailed energy analysis
• Energy efficiency and energy conservation measure
• Cover the remaining needs with renewable energy technologies

What are the barriers to investment in green buildings and how can we overcome them?

The main barriers are institutional and regulatory barriers, financial barriers and general barriers.

Institutional and regulatory barriers include the regulatory framework not being strong enough. Financial barriers include access to finance, upfront costs of renovations, payback expectations, price signals and perceived high risks. General barriers include a fragmented building industry, lack of skilled labour, lack of access to technologies and a lack of competition in certain countries, especially in central Asia. Solutions to overcoming barriers include working with regulators to close any policy gaps, establishing a better use of public funds, guarantee facilities, setting up one stop shops, bundling projects to reduce transaction costs, engaging with energy service companies and energy performance contracting and using innovative financial models