"Smart" and "net zero" buildings are becoming the new buzzwords in India. With more than 40 per cent of India's population projected to be in urban areas by 2030, the volume of green buildings will increase dramatically, reaching 20 per cent of all building stock by 2018.
LEED refers to Leadership in Energy and Environmental Design, developed by the US Green Building Council (USGBC).
Strong financial savings on energy are projected in the report LEED in Motion-India, published by the Green Business Certification Inc (GBCI),the certifying body for all projects participating in the LEED rating system.
The LEED certified buildings across India feature Jaypee Vasant Continental Hotels, Wockharft Hospital, IFFCO Sadan, Kempegowda International Airport and Infosys buildings.
The report provides an account of the factors that have led to greater participation in the rating system in the Indian subcontinent and highlights how corporates are embracing the concept, benefiting their triple bottom line - people, planet and profit.
The rating system has been adopted by major Indian companies. These green buildings are designed and constructed as better buildings.
According to the report, India reports greater decreases in operating costs for retrofits than the global average, which may encourage more growth in that sector.
Retrofitting or converting existing buildings in India will not only optimize operations but also address country's energy, air and water crisis.
Mahesh Ramanujam, president of GBCI and COO, USGBC, the creators of LEED, said in a statement: "As the world's leading system for sustainable building design, construction and operations, LEED helps innovative Indian business and political leaders attract new foreign investment, increase the competitiveness of real estate portfolios, enhance occupant health and wellness and position the nation as a world leader in the burgeoning green building economy."
LEED Platinum-certified ITC Sankhya Data Center in Bengaluru achieved an annual energy savings of Rs 121 million and the LEED Gold-rated K. Raheja Corp Mindspace Building No. 9 in Hyderabad saved Rs 24 million annually in energy and Rs 3 million in water savings.
Putting aside the ecology-bit aside, green buildings make a great economic sense. The amount of saving through reduced power usage is the primary reason why so many buildings are going green all over the world.
The report examines recent and significant gains in the application of green building techniques in India with India currently the third largest country outside the US for LEED with over 2230 projects participating in LEED, encompassing more than 908 million gross square feet of space.
The Indian Green Building Council (IGBC) located in Hyderabad has been instrumental in mobilising the green building movement in India and helping establish LEED as a key driver for market transformation.
BW Reporters
Naina Sood is a Economics graduate and has done her post graduation in International economics and Trade. She has deep interests in Indian economy and reforms
