• China Adds 873 LEED-Certified Projects in 2020, Shanghai Takes Solid Lead

    8 February 2021

    (5 February 2021,Shanghai) With the real estate industry committed to moving faster on carbon reduction and the green building push gathering pace, LEED certifications in China are at record high.

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    By 2020, the number of LEED-certified and LEED-registered projects across China has amounted to 6,273, totaling over 320 million sqm of space.

    According to the “LEED Certifications in China: Top 30 Cities” recently published by USGBC, China posted an increase of 873 new LEED-certifications in 2020, up 128.53% compared to the year before. At the city level, Shanghai leads the country with the highest number (677) of LEED-certified projects. Beijing and Hong Kong were ranked second and third among the 30 cities, with LEED certifications amounting to 389 and 278 respectively.

    “Shanghai has topped the list for at least 3 years in a row. In 2020 alone, 197 projects totaling 6.12 million sqm became LEED certified. This global gateway city with open business environment, strong fundamentals and buoyant commercial real estate sector has long been the front-runner in terms of sustainable business practices and building energy efficiency. And with institutional investors retaining rising interest in green building sector, Shanghai has established its position as the leader in China’s green building movement.” said Wang Jing, director of USGBC North Asia.

    China also saw a diversified portfolio of projects earn LEED registrations in the past year. Retail and Office are two main space type seeking to get LEED-certified, representing 44% and 26% of new registrations respectively, followed by warehouse, industrial manufacturing and hotel. Wang Jing commented, “There is tremendous growth potential for LEED particularly in the retail as a growing attention to sustainability is closely related to retailers’ triple bottom line and helps meet young consumers’ demands for sustainable development. Meanwhile, a sizable number of existing office buildings are ready for a revamp after one to two decades of operation. For investors and operators, LEED-certified office buildings generally outperform non-LEED projects in terms of sale price and rental rate.”

    “Overall speaking, If China aims to become carbon-neutral by 2060, green building can not just be a gimmick or buzzword, but seen as a key enabler for long-term sustainability.” added Wang Jing, “For property developers and enterprise, how to enhance the connection between buildings and human health and wellbeing while advocating a green lifestyle should particularly be key considerations in the post-pandemic era.” said Wang Jing.

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