Value Beyond Cost Savings - Green Building Finance Consortium

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Appendix FSustainable Property Financial Analysis AlternativesAnalysis/Model Description/Commentary Key Links/Examples• Reduce air pollution• Reduce waterpollution• Increase biodiversity• Reduce soil erosion• Reducedeforestation• Reducedesertification• Preserve ozonelayer• Reduce drought riskPower the equivalent of 10% of homesHeat the equivalent of 30% of homesRun the equivalent of 10% of carsRecover clean, usable waterLimit tax increaseshttp://www.cd.gov.bc.ca/ministry/whatsnew/IRM.htmThe Organization for Economic Co-operation and Development (OECD)has published a 2005 reference manual entitled “Strategic WastePrevention.” As part of its on-going efforts towards assistinggovernments with actions that support increased resource efficiencyand sustainable development:http://www.olis.oecd.org/olis/2000doc.nsf/LinkTo/NT00001066/$FILE/00081387.PDFConstruction & Demolition (C&D) Waste Diversion: This report presentsa calculation of the economic impacts of C&D waste diversion for bothnew construction and for renovations of existing buildings requiringdemolition. The report includes a calculation of public (environmentaland tax) benefits associated with an additional 25% in C&D diversionequating to a $0.03/SF benefit for construction only and a $0.14/SFbenefit for construction preceded by demolition. This is not a presentvalue calculation. See, “The Costs and Benefits of Green Buildings,”Gregory Kats, October 2003, pp 47-53 and Appendix H:http://www.cap-e.com/ewebeditpro/items/O59F3259.pdfMany of the sources cited in the text and covered in other parts ofPublic Benefits provide additional detail on analyzing Environmentaland Resources Conservation Benefits.3. Land-Use Benefits• Preserve openspace and naturalhabitat• Protect agriculturalland and economicdiversity• Maintain vibrantLand-use benefits analyses attempt to quantify public benefitsassociated with reduced traffic congestion & air pollution, andpreserving open-space & natural habitat, protectingagricultural lands and keeping urban areas vibrant.Examples of the types of issues that a land-use benefitsfinancial analysis might consider include increased workerproductivity due to shorter commute distances, reduction onquality of life as a result of the loss of open-space, tax revenueloss as a result of a decrease in the amount of productiveThe Green Communities Criteria Checklist and Manual provide adetailed listing of criteria for sustainable housing developments with aparticularly good assessment of site location and related issues.http://www.greenbuildingfc.com/Home/DocumentDetails.aspx?id=1072The Holland Barrs Planning Group authored “Playbook for GreenBuildings and Neighborhoods - Strategic Local Climate Solutions”. ThePlaybook presents tools that cities and counties can use to takeimmediate action on climate change through: Green building, greenneighborhoods, and sustainable infrastructure.250
Appendix FSustainable Property Financial Analysis AlternativesAnalysis/Model Description/Commentary Key Links/Examplesurban areas• Reduce trafficcongestion and airpollutionagricultural land.http://www.greenbuildingfc.com/Home/DocumentDetails.aspx?id=978Brownfield’s Capital: Unlocking the Value of EnvironmentalRedevelopment by Glenn Mueller provides some insights into animportant sustainable land-use issue.http://findarticles.com/p/articles/mi_qa3759/is_200501/ai_n9484608The Urban Land Institute has long been a leader in “Smart Growth” andall the issues related to real estate and related intelligent use of land. Atthe 2007 ULI Fall Meeting in Las Vegas, the Trustees directedChairman Todd Mansfield to form an Advisory Group to study andadvise on the issues of climate change and energy and how ULI as anorganization might best engage in these issues. The Climate, Land Useand Energy (CLUE) Advisory Group is made up of a diverse body ofULI members who span the fields of finance, investment, development,design and the insurance industries. The study can be found at:http://www.uli.org/sitecore/content/ULI2Home/ResearchAndPublications/Reports.aspxResources on Smart Growth can be found at:http://www.uli.org/ResearchAndPublications/Reports/SmartGrowth.aspx4. Reduced ClimateChange• Reduce vulnerabilityto climate• Reduce costs torespond to change• Reduce spread ofinfectious respiratorydisease• Reduce acidification• Contribute to manyenvironmentalconservationbenefitsReduced emissions benefits analyses consider the value ofimproved public health resulting from cleaner air and water,and from reductions in carbon emissions that cause globalwarming. In the improved indoor air quality example, theanalysis looks at the costs saved based on a reduction in thenumber of asthma cases. In the reduced pollutants example,the analysis assigns dollar amounts to the various pollutantsand then calculates an overall value based on a reduced levelof emissions. Both analyses calculate a present value that isappropriate since buildings that incorporate these features willrealize these benefits over many years.The IPCC has extensive publications and analysis of the costs ofClimate Change across a wide range of areas.http://www.ipcc.ch/about/index.htmThe IPCC was established to provide the decision-makers and othersinterested in climate change with an objective source of informationabout climate change. The IPCC does not conduct any research nordoes it monitor climate related data or parameters. Its role is to assesson a comprehensive, objective, open and transparent basis the latestscientific, technical and socio-economic literature produced worldwiderelevant to the understanding of the risk of human-induced climatechange, its observed and projected impacts and options for adaptationand mitigation.Climate Changes Futures - Health, Ecological and EconomicDimensions by Paul Epstein and Evan Mills is the result of The Centerfor Health and the Global Environment, Swiss Re and the UnitedNations Development Programme three-year effort to examine the251
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Value Beyond Cost Savings - Green Building Finance Consortium

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