| | December 20208reen buildings -efficient in the use of en-ergy, water and materials ­ all the while providing quality air supply. Green build-ings, are, in fact, becoming more and more commonplace in commercial real estate dialogues. Beyond environmental factors generat-ing demand for green buildings, we're now seeing vari-ous technological, regulatory and financial forces at play, all working in concert to build a strong business case for integrating green features into a building's development. Multiplying volumes of wastage and carbon emissions have caused rising temperatures, worsening air quality and the depletion of natural resources. While these signs from Mother Nature have ignited the conversation about a need for sustainable properties which alleviate environ-mental damage, it is the simultaneous technological de-velopments which have enabled a course of action ­ from on-site renewable energy generation and water recycling to enhanced building automation systems. Office occupi-ers are now equipped with the tools to not only monitor but also to actively reduce consumption.Aside from improving occupants' health and comfort, the adoption of energy and water reducing initiatives has translated into cost savings through reduced facilities management costs and future maintenance costs. Addi-tionally, technological advancements have vastly reduced the capital outlay required to invest in energy projects. Since 2010, the installation and electricity generation cost for solar photovoltaics in China, India and Japan have plunged over 70 percent. Behind the scenes, investors from REITs and funds are also fueling the demand for green office buildings. En-vironmental, social and governance (ESG) factors are in-creasingly being adopted alongside financial performance in the evaluation of an investment vehicle's performance, pointing to the rising prominence of corporate social re-sponsibility in business. According to Standard Chartered 2017 India Highlights, it recorded more than 19,000 employee volunteering days as only one of its many sus-tainability milestones socially achieved. Cognizant's Envi-ronmental Stewardship plan implements initiatives under their Go Green program for improved facilities design and Green Brigade programs for environmental awareness amongst several other factors.GGOING GREEN!By Gurjot Bhatia, Managing Director, Project Management, CBRE IndiaIN MY OPINIONGurjot Bhatia
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