GreenBuild Blog
Corporate Sustainability / Green Business Practices
Thursday, July 17, 2008
Can Green Building Help Lifestyle Centers Succeed?
With so many major retailers building green (Kohl’s, Office Depot, Home Depot, Best Buy, Coldwater Creek, to name a few), wouldn’t it make sense for shopping center developers of these large lifestyle centers to build to LEED standards and offer prospective tenants the prospect of an easier certification, by supplying 8 to 10 “LEED points” for retailers? Just yesterday, I was in on a project meeting for a national retail chain that is specifically aiming at a green building certification for a new store located in such a “green” shopping center. The interest is clearly in marrying the two concepts: green retail and green development. Wouldn’t it make sense for developers to use this market slowdown as an opportunity to explore green building concepts and the value of using those as marketing tools for major tenants?
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Sunday, July 13, 2008
Jones Lang LaSalle acquires Green Globes developer; strategic move or desperation?
According to the story in the CoStar Green Report, Green Globes for Existing Buildings was adopted in 2004 by the Building Owners and Managers Association of Canada (BOMA Canada) and renamed “Go Green Plus.” JLL plays the acquisition of Green Globes as a way to quickly assess its real estate portfolio in sustainability terms and then to determine whether to pursue LEED certification for individual properties. JLL also talks about linking Green Globes to the ENERGY STAR rating system. However, if one really wants to benchmark sustainable operations, and particularly to consider other issues than just energy use, there is no better tool than LEED. I don’t think that the marketplace is going to see this as a credible move, particularly large corporate real estate departments who are seeking green office space. What I do think the acquisition demonstrates is that green building operations are the next frontier in the green building movement. This is seen also in the rapid growth of LEED for Existing Buildings (LEED-EB) registrations in 2007 and 2008. From a 2006 year-end total of 244 project registrations, by the end of May 2008, LEED-EB projects underway numbered 1,277, a fivefold increase in less than 18 months! As part of this growth, CBRE has itself submitted more than 200 LEED-EB project registrations, according to company sources.
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Friday, July 11, 2008
Will green building and green products be retailers’ salvation?
The Journal article points out that Home Depot, Wal-Mart Stores, Best Buy, CVS Caremark and Walgreen are taking various steps to appeal to cash strapped consumers, such as remodeling their stores, spending more on store maintenance and investing more in customer service (what a concept!). Overlooked in the article is that each of these outfits is also taking a long look at using LEED certification and/or green product selections to stand out also. For example, Home Depot has LEED-certified a store in Calgary, Alberta, and also green-certified more than 1,500 items for their “Eco Options” program. Best Buy is promising to LEED certify all new stores. CVS is looking at LEED certifying one of their prototype stores in California, according to industry rumors. Wal-Mart just introduced a nearly 50% less-energy-using store prototype for the western U.S. Who will be next? Stay tuned!
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Tuesday, July 01, 2008
Strategic Implications of Sustainable Development
In the McKinsey Quarterly for June/July 2008, Lovins says: “Environmental strategy is not about manipulating regulatory systems to put your competitor at a disadvantage. It’s about redesigning your company’s processes and products so that regulation is relevant only to your competitor, not to yourself. The real leaders are going to be smart companies that see the competitive advantage in leading energy transformation in their sectors.” In my work with the development industry, I find the most difficult part is to get people to look outside of the industry’s mindset of lowest first cost, to get people to realize that it’s the appropriate level of investment that should be looked at. In that context, sustainable design and green buildings should be seen as value adders and risk reducers, with clear economic values ascribable to these functions. For most corporations, sustainability is not about the things that they do today, but it’s about getting and keeping the people who will accomplish major changes over the next three to five years inside the organization. Technology per se is not a competitive advantage; what really counts for a company is a crafting and maintaining a mindset of continuous improvement in sustainable operations; energy savings are a result of this mindset, not the end goal in themselves.
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