The property industry isn’t just a major part of the UK, but a significant global sector. It provides homes for people, sites for businesses and commercial needs and everything in between. It’s worth billions and affects all kinds of other industries that are part of living in a modern society. That means that if the industry decides to make a change, the potential impact would be huge.
Climate change is something that has certainly shared the limelight with numerous other, important developments in recent years. However, one thing that’s increasingly certain is that climate change can be stopped, or at the very least limited, if we act now, on a big enough scale. The property industry is absolutely one that could help effect the right change – provided it mobilises for the cause.
Can property go green and remain profitable
This is the main sticking point for most property industry developers and investors. Will it still provide a suitable return for the amount of time, money and energy invested in it?
At this early stage in creating an eco-friendly and carbon neutral property industry, there is no definitive answer, either way. There is, however, evidence of a growing appetite for eco-friendly properties.
This is clear in an interest to develop faster and cleaner property building techniques. To substitute traditional, but often carbon and energy hungry elements, for greener alternatives.
With demand for those greener credentials rising, it’s likely the cost of them will begin to fall. Meanwhile, the price of running an eco-friendly building is also more cost-effective, as a property constructed using the most energy efficient materials makes it cheaper and easier to run homes and buildings, without the need for excessive energy consumption to keep them warm or cool.
Eco-friendly investment options
Looking at the property industry from a different angle for a moment, not only is there a growing appetite for greener living, there’s also more interest in it from an investor point of view, too.
Corporate Social Responsibility has become much more important to those who are willing to invest their own funds into a new opportunity. Eco-friendly, carbon neutral and generally ‘green’ options are increasingly taking pride of place in company’s vision statements and becoming a core part of employee culture, too.
India is a case in point. It’s a fast-growing economy, thanks to a number of developments, including a rapidly growing middle class. That middle-class is beginning to enjoy more travel and tourism, both within India and outside of the region. However, eco-tourism is proving a popular trend among the domestic population – as well as international tourists.
With so much demand and a still growing appetite for greener options with regards to pretty much everything people do, encouraging the global construction and property industry to become eco-friendly and work on reducing its carbon footprint is something that should take precedence over other upgrades.
It appears then, that there is a desire across all the elements that help make up the construction industry and the buyers and users of the end product. Against that backdrop, climate change is definitely something the property industry needs to tackle. And the sooner, the better.