Value Beyond Cost Savings - Green Building Finance Consortium

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Appendix FSustainable Property Financial Analysis AlternativesAnalysis/Model Description/Commentary Key Links/Examples• Improve publichealthphysical and health risks of climate instability.http://www.greenbuildingfc.com/Home/DocumentDetails.aspx?id=91Ceres (pronounced “series”) is a national network of investors,environmental organizations and other public interest groups workingwith companies and investors to address sustainability challenges suchas global climate change. They have many publications dealing withclimate change and their impacts.http://www.ceres.org/Page.aspx?pid=415Climate Change Economics provides a significant listing of sustainablesources—with an index and their commentary about the site which tiesinto resources to describe the public benefits of sustainability andclimate change.http://www.climatechangeecon.net/index.php?option=com_mtree&task=listcats&cat_id=42&Itemid=20Reduced Pollutants: This report presents a net present value analysis(over 20 years) that concludes a $1.18/SF emissions benefit due to areduction in electricity generation. The analysis is based on a 36%reduction in Carbon Dioxide, Sulfur Dioxide, Nitrogen Oxides andParticulates. “The Costs and Benefits of Green Buildings,” GregoryKats, October 2003, pp 38-39:http://www.cap-e.com/ewebeditpro/items/O59F3259.pdfImproved Indoor Air Quality–Asthma Reduction: Cost-benefit study of30 green schools calculates a present value of $3.00/SF as a result of a25% reduction in asthma cases (over 20 years) associated with childrenattending a green school with better indoor air quality compared to aconventional school. See, “Greening America’s Schools – Costs andBenefits,” Gregory Kats, October 2006, pg. 13:http://www.cap-e.com/ewebeditpro/items/O59F12807.pdfImproved Public Health from Cool Roofs: This report estimates healthbenefits for the state of California, principally due to reduced smogcreation as a result of the installation of “cool roofs.” The reportestimates the health benefit to be $0.70/SF based on a report producedby PG&E in 2000 and other findings of a Lawrence Berkeley Labs (LBL)senior scientist. See, “The Costs and Benefits of Green Buildings,”Gregory Kats, October 2003, pp 77-80:http://www.cap-e.com/ewebeditpro/items/O59F3259.pdf252
Appendix FSustainable Property Financial Analysis AlternativesAnalysis/Model Description/Commentary Key Links/ExamplesConsider using another example here (not much detail): Cost-benefitstudy of 30 green schools in ten states calculates a present value (over20 years) of emissions reduction of $0.53/SF from a green school. See,“Greening America’s Schools – Costs and Benefits,” Gregory Kats,October 2006, pg. 6:http://www.cap-e.com/ewebeditpro/items/O59F12807.pdf5. Economic Benefits• Job creation• Improve publichealth and wellbeing• Reduce insurancecosts• Reduce public healthcosts—Medicare• Government workerproductivity: reducegovernment costs• Worker productivity:increase earningsand tax revenues• Communitycompetitiveness—quality of life6. Security Benefits• Reduce reliance onforeign energysourcesEconomic benefits analyses seek to quantify public benefitsassociated with job creation, recycling, reduced public healthcosts, increased tax revenues associated with greatereducational achievement, and community competitiveness.Examples of this include investments in “green” schools thathave been shown to have a positive impact on academicperformance that in turn has a positive impact on lifetimeearnings and tax revenues. Benefits such as these, which arerealized over many years, are most accurately valued usingsome type of present value calculation.Security benefits analyses are an attempt to quantify the valueof reduced reliance on foreign energy sources. Ourdependence on certain foreign energy sources contains anumber of hidden costs including increased risk of energy costvolatility due to supply shock, significant wealth transfer tohostile regimes, and increased risk of a costly US militaryintervention.This is a vast area analyses that is based on the historic foundationused by governments in Cost-Benefit analysis that is adapted for thepurposes of addressing sustainability related benefits. Two examplesfrom Mr. Kats are presented below.Worker Productivity-Increased Earnings & Tax Revenue: Cost-benefitstudy of 30 green schools in ten states calculates a public financialbenefit of $2,700 per student or $20.00/SF over a 20 year period fromincreased federal, state and local tax benefits associated with higherearnings from students attending green schools. See, “GreeningAmerica’s Schools – Costs and Benefits,” Gregory Kats, October 2006,pg. 13]http://www.cap-e.com/ewebeditpro/items/O59F12807.pdfEmployee Retention: Cost-benefit study of 30 green schools calculatesa financial savings of $4.00/SF over a 20 year period from increasedteacher retention. See, “Greening America’s Schools – Costs andBenefits,” Gregory Kats, October 2006, pg. 14]http://www.cap-e.com/ewebeditpro/items/O59F12807.pdfSee, “The Hidden Cost of Oil: An Update,” The National DefenseCouncil Foundation, Milton Copulos, January 2007: http://www.ndcf.org/Energy Insecurity; testimony of J. Robinson West Chairman PFCEnergy on September 21, 2005 concerning the increasing securityimplications of our reliance on foreign energy supplies.http://www.greenbuildingfc.com/Home/DocumentDetails.aspx?id=286253
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