The Construction Industry Doing Our Part
Attention to the environment is a global concern and it’s essential that everyone does their part to collectively be part of the solution. The construction industry is no exception. Although we're more concerned about the environment now than ever before, that hasn't kept us from continuing to put up new buildings. At least we're now conscientious about how these buildings are being constructed and their impact to the planet.
For a long time, green construction was mostly limited to houses, and it could get expensive -- often considered too expensive or impractical for commercial use. It's all about what kind of return you'll get on your investment, and "helping save the planet" only does something for your karmic balance sheet. These days, however, not only will building green save companies money over time, it'll also score them tax breaks, rebates, grants and other incentives.
In order to reap some of the monetary benefits of building green, you have to follow some standards. In the United States, it's a rating system called LEED (Leadership in Energy and Environmental Design), developed by the U.S. Green Building Council. Please see our Engineered Tax Programs section for more information.
In addition to the savings aspect, companies that put more effort into going green make more money than others. This is the conclusion of the report "The A List: The CDP Climate Performance Leadership Index 2014" just published by CDP, analyzing 187 leading businesses which have decided to reduce their environmental impact. Most companies now consider green practices to be vital to remaining competitive and many affirm that these practices are contributing to profits. As investors and partners become more knowledgeable about green strategies that improve the bottom line, climate-responsive business practices are becoming the norm. As stated by Mark Vachon, vice president of GE’s Ecomagination: “There’s this theory that you have to pick one: economics or environmental performance. That’s nonsense. Innovation is the way you can have both. Companies that don’t get this, really risk becoming irrelevant to the marketplace.”