Green Building a Bright Spot in Downturn

PHOENIX-The economy may be “horrid,” but green building is a bright spot, with said speakers at the International Council of Shopping Centers’ CenterBuild conference, being held here through Saturday. And benefits will go well beyond saving energy for retail developers and stores.

The greatest CO2 emitters are buildings, responsible for 40% of emissions, presenting an enormous opportunity for builders. Even as other sectors are struggling, sustainable building is growing at a 30% annual rate, making it the fastest-growing sector in the building industry, said David Gottfried, CEO of Berkeley, CA-based Regenerative Ventures and a founder of the U.S. Green Building Council. “The growth in this world right now is green,” Gottfried said.

CenterBuild is held annually for developers, designers and construction professionals in retail real estate. And retailers are leading the way in greening this sector, particularly since it can be profitable, said Joseph Feldman, managing director and senior research analyst of New York City-based Telsey Advisory Group: the pioneering ‘green’ Wal-Mart in Lawrence, KS, posted higher-than-average sales for the chain.