Cities around the world are setting building performance standards (BPS) as a key measure to cut emissions and meet climate targets, according to a report from JLL.
In the U.S., 13 cities have a BPS in place and more than 30 additional cities plan to pass a BPS by no later than 2026. As of early 2024, these policies already cover about 25% of all buildings in the U.S.
BPS mandate specific building-level energy use and emissions reductions. The limits set by BPS become increasingly stringent over time and typically include sizable fines for non-compliance.
In January 2022, the U.S. launched the National BPS Coalition to help cities move from prescriptive to performance-based codes that require reductions in emissions and energy use, leaving it up to the owners to decide how to meet them. Many building owners will have to retrofit their properties to avoid a financial double whammy.
“Not only are non-compliant properties exposed to escalating fines, but they also face additional increasing risks associated with the fact that they are not low carbon properties,” says JLL’s Jaime del Alamo. “These assets could face indirect liquidity issues, for example, as they may prove more challenging to sell, leading to significant value erosion over time.”
Related Stories
Green | Jan 29, 2016
USGBC names top 10 states for LEED green building
Illinois leads the list for the third straight year.
Green | Jan 4, 2016
Florida lagging on development of green roofs
Florida lagging on development of green roofs.
Green | Dec 23, 2015
Austin, Texas mandates construction recycling
Projects larger than 5,000 sf must recycle or salvage at least half of their trash.
Green | Dec 15, 2015
USGBC aims to scaling LEED buildings to 5 billion sf in five years
Plan revealed at UN climate conference.
Green | Dec 13, 2015
Detroit plans massive effort to convert vacant properties to green spaces
Effort aims to improve property values, city life.
Greenbuild Report | Dec 10, 2015
AASHE’s STARS tool highlights the university sector’s holistic approach to sustainability
Buzzwords like “living lab” and “experiential learning” are indicative of the trend toward more holistic sustainability programs that incorporate all facets of college life.
Greenbuild Report | Dec 8, 2015
Is ‘green’ still a selling point in the office sector?
Some developers are missing an opportunity by downplaying sustainability at a time when demand for such features is palpable among lessee firms who are trying to attract younger workers.
Greenbuild Report | Dec 1, 2015
Data centers turn to alternative power sources, new heat controls and UPS systems
Data centers account for 2% of the nation’s electricity consumption and about 30% of the power used annually by the economy’s information and communications technology sector, according to the National Renewable Energy Laboratory.
Greenbuild Report | Nov 30, 2015
10 megatrends shaping the future of green building
Increased competition among green building rating systems, the rise of net-zero buildings, and a sharper focus on existing structures are among the trends that will drive sustainability through 2020, according to author and green building expert Jerry Yudelson.
Green | Nov 30, 2015
Federal agencies aim for major reduction in greenhouse gas emissions
A 42% cut to come from buildings, vehicles, supply chain.
