Impacts of Green Rating Systems on the Economy and Society

Abstract

This study examines the impact of green rating systems on the construction industry in sustainable development. Five widely used green rating systems, BREEAM, LEED, Green Star, Green Mark and CASBEE, were examined to identify their effectiveness in promoting sustainable construction practices, specifically in the economic and social aspects. Results revealed that all rating systems offer a comprehensive environmental performance assessment but have varying degrees of success in the rest pillars of sustainability. The rating systems have notably influenced the construction sector, motivating developers and designers to integrate sustainable elements into their structures. The advantages of such rating systems extend beyond singular buildings, benefiting society as well by decreasing environmental harm, advancing the health and well-being of occupants, and stimulating economic progress. Furthermore, the study suggests that construction companies that design and build green-certified buildings have a competitive advantage in the market. Overall, the study highlights the benefits of using green rating systems to promote their wider adoption in the construction industry.