GREENING 80% OF THE BUILDINGS IN SINGAPORE BY 2030: MACRO OVERVIEW ON DRIVERS AND BARRIERS FOR THE PRIVATE SECTOR

Abstract

The current challenge for the Singapore construction industry is to attain the Building and Construction Authority (BCA) goal of greening on at least 80% of the buildings through the Green Mark Certification by 2030. The private sector is being identified as one of the major stakeholders in the industry. Accordingly, the objectives of the study set out to establish the factors affecting the decisions for green building investments, perceptions of the private sector on the way forward for greening in Singapore as well as to investigate existing sustainable initiatives and their implications on green building investments. Interviews and survey questionnaires are used jointly to fulfill the objectives of the study. Twelve driver and barrier factors identified in the literature review are used in the survey. The degree of importance and the ability to influence green building investment decisions, of the twelve factors are determined.This study ascertains that the private sector is becoming more conscious of greening the buildings. However, economical gains are highly regarded as a significant part of their business costs and the issue of image and reputation are also found to be increasingly important drivers for businesses when they make decisions to implement sustainable practices. Besides these factors, leadership and support from the government are important for accelerating the pace of changes in green buildings as well. This study proposes recommendations to address the economical and governmental aspects to further create awareness and incentivize the private sector. The study concludes by providing new suggestions for future research.