Japanese green initiatives top the region
Cherry-blossom (Sakura) trees along the bank of Funakawa river in Asahi, Japan. Piti Sirisriro / Shutterstock.com
The real estate world has not only been a more transparent place since the last time Jones Lang LaSalle conducted its Global Real Estate Index survey. It has also become more environmentally sustainable, according to the property advisor’s latest Real Estate Environmental Sustainability Transparency Index.
Japan joins the likes of France, Australia and the UK. The introduction of several environmental transparency tools has moved the East Asian market to the top of the index pyramid.
Seventeen countries have improved their rankings overall. The index, a measure of real estate markets’ transparency in terms of environmental issues such as carbon emission reporting and energy efficiency standards, improved from 3.08 in 2014 to 2.99 this year.
More: It’s official: Singapore, Seoul ranked Asia’s most sustainable cities
Japan impressed JLL statisticians with a raft of sustainability tools that include a Building Energy-Efficiency Labelling System (BELS) for the non-residential sector as well as the publication of guidelines on voluntary green lease clauses for landlords and tenants. Additionally, the country now sets a minimal energy efficiency design criteria for new non-residential buildings that exceed 2,000 square metres.
From 28 countries in 2012, the index now covers 37 countries, with new entrants Finland, Malaysia, Taiwan and Thailand. Malaysia and Taiwan are classified under Low Transparency, while Thailand is grouped with China, India and South Korea for Semi-Transparent sustainability.
Singapore and Hong Kong rank in the Transparent category. Dubai, on the other hand, has graduated to the Semi-Transparent category, largely due to its government’s Strategic Plan that made green building standards mandatory for almost all types of new constructions.
Read next: India makes strides in regulatory changes and real estate transparency
Source : property-report.com
Read more…Japan leads Asia in environmental sustainability transparency
