Across the globe, 5th June is celebrated as World Environment Day, which is the principal platform of the United Nation to create more awareness and action towards protecting Earth’s environment. This day has a very special significance for the real estate sector.
Indian green buildings’ market is expected to double by 2022 says Anuj Puri, ANAROCK Property Consultants
Over the past few decades, fast-paced economic development coupled with rapid population growth and urbanisation has led to a rapid depletion of natural resources. The accelerated rate of resource consumption and rise in greenhouse gases’ emission has resulted in significant environmental degradation. This has, in turn, resulted in climate change, the rise in average temperature and deterioration of air quality.
|Real Estate Sectors impact on the Environment:
The building sector is one of the major consumers of natural resources such as water, energy and other raw materials. It generates a large number of wastes and pollutants during the three phases of its life cycle – construction, maintenance, and deconstruction. As per estimates, the construction sector consumes an approximate 25% of water and 35-40% energy, apart from other raw materials.
Additionally, it emits 40% of global wastes and 35% of greenhouse gases. Looking at the rampant degradation of the environment across the globe, it has become imperative to take measures for the optimal use of natural resources, reduction of wastes and restricting the pollution. The use of green building practices can help in addressing these concerns along with giving an impetus to build a sustainable environment for future generations.