Real estate investors should think green as concern about the planet fuels demand for sustainability.
That’s the view of the Vancouver Economic Commission (VEC) which is forecasting a surge in green building in Metro Vancouver between 2019 and 2032.
The report highlights the market opportunity for manufacturers of green building materials in the BC region and predicts a jump in demand for materials and labour throughout North America.
“Climate change is the most pressing issue facing the world today, and ambitious policies create huge new market opportunities,” says VEC CEO Catherine Warren.
The drive for sustainability is backed up by stakeholders who are keen to meet both demand and targets.
“We are committed to making Vancouver homes and buildings healthier, greener and more efficient through our Zero Emissions Building Plan and green building targets and actions,” said Doug Smith, Sustainability Director, City of Vancouver. “In 2013, the World Green Building Council honoured Vancouver by announcing that we have the greenest building policies of anywhere in the world, and since then we have continued to show leadership, innovate, build local skills and increase energy efficiency in buildings.”
Savings from green technologies
The City of Vancouver found that Vancouver citizens save an average of $12 million a year due to reductions in carbon emissions from stronger building codes.
“The Discovery Foundation is delighted to have partnered with the Vancouver Economic Commission to produce this ground-breaking report on the impact of green building regulations,” said David Harper, CEO, Discovery Foundation. “In the Lower Mainland alone there is a multibillion-dollar economic opportunity for green building technologies and the potential to add one thousand well-paid, high skill jobs. And the cost-savings from more efficient buildings will build on our existing initiatives and pay dividends for many years to come, while helping us achieve our climate and sustainability goals.”
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