Avoiding Green Lemons: assessing the value of green building
A myriad of factors such as emissions agendas, rating tools, and the sustainability 2.0 movement are driving major changes in the way property is owned, occupied and used for investment both locally and globally. These themes were the topic of discussion at a recent panel discussion convened as part of the 2019 BE–150 program.
The past decade has seen sustainability and green building credentialing assuming increasing prominence within the property development and real estate sectors. A myriad of factors such as emissions agendas, rating tools, and the sustainability 2.0 movement are driving major changes in the way property is owned, occupied and used for investment both locally and globally. These themes were the topic of discussion at a recent panel discussion convened by the Melbourne School of Design as part of it's 2019 BE–150 program.
Chaired by Dr. Georgia Warren-Myers (Senior lecturer in Property, The University of Melbourne), the event featured a diverse panel of industry experts from within the property sector.
Following the welcome formalities, Richard Bowman (Partner, Ernst and Young, Real Estate Advisory) offered a practitioner's perspective providing context on the early days of green building valuation and forecasting methods. Detail on the evolution of reporting and evaluation techniques was then provided by Anthony DeFrancesco (Managing Director, Real Investment Analytics). Nina James (General Manager Corporate Sustainability, Investa Property Group) then offered insights on the day to day realities facing those working as Sustainability Managers within the sector. Providing an academic perspective, Professor Franz Fuerst (Professor of Real Estate and Urban Economics, Cambridge University) then discussed current research exploring the economics of green buildings and outlined a series of challenges likely to face the property industry into the future.
These presentation were then followed by a rigorous and wide-ranging Q&A discussion which touched on the political and environmental challenges inhibiting effective property development and investment strategies. Debate then moved to the strategies property stakeholders should be considering.
The event was followed by informal refreshments and networking.
A recording of the event is available on YouTube at: youtu.be/VgCBlwl9pP0