ASIA: BUSINESSES KEEN TO GO GREEN

ASIA: BUSINESSES KEEN TO GO GREEN – OXFORD BUSINESS GROUP’S REGIONAL EDITORPan-ASEAN certification and regulations key to driving green technology forward Businesses in Southeast Asia are largely signed up to the idea of ‘going green’ but would be more likely to adopt the technology if standardised certification and regulations governing its use across the region were put in place, according to Oxford Business Group’s Regional Editor Paulius Kuncinas. Kuncinas said while many business leaders understood the benefits of green technology, the introduction of regional certification, together with added incentives, greater technological guidance and improved information would push growth in the industry and instil investor confidence. “Green technology has recently emerged as one of the main drivers of additional value, seen as both a public good and a source of efficiency and productivity. Above all, if properly executed it can save some 40-60% in energy costs,” he said. “However, in the absence of clear and consistent certification it is hard for companies to reach an investment decision on what are the cost and benefits of going green. They fear that what is considered to be green today may no longer be considered so in a couple of years’ time.” Kuncinas’s comments featured in a key-note speech, titled ‘Green Buildings – Future Business Trends in Asia’, which he gave at the ‘Greenright Indonesia, Green Building Conference and Expo 2012’. The event, organised by the Green Building Council of Indonesia, took place at the Jakarta Convention Center between 11 - 13 April. Kuncinas acknowledged that business leaders had concerns about green technology other than those relating to the process of certification and regulatory uncertainty. He said question marks hung over key issues, such as at what point green buildings were likely to pay for themselves and whether the technologies and processes used would need modifying for tropical climates. “How do you quantify the value add of going green in adopting a more expensive technology? Especially in the absence of tax and regulatory incentives,” he asked. He also highlighted the concerns raised by business leaders about a lack of local expertise in the field, saying few local companies specialised in green technology, while foreign companies were viewed as unfamiliar with the region or sometimes simply too expensive. “Another challenge is the outsourcing barrier,” he added. “While technology is relatively easy to adopt, companies do not yet have in-house expertise to manage the green building construction and design process. Meanwhile, many of them are reluctant to outsource to third parties for fear of inflated budgets and getting a final product that does not necessarily fit one’s needs.” Kuncinas was upbeat, however, that leading players on the region’s business scene were keen to tap into the long-term sustainability green technology offered, while also contributing to Corporate Social Responsibility (CSR). “Be it a Class-A office, shopping mall or residential unit, going green attracts end users because it is new, smart and helps to save on costs,” he said. “Our experience in Asia tells us that the leading development groups these days want the best available technology and highest standards available. Landmark projects such as Park Ventures in Bangkok or G-Tower Hotel in Kuala Lumpur clearly show how going green is good business and good economics.” He voiced his hope that efforts to highlight the benefits of a regional certification system to players at each stage of the process would spearhead development in the field. “By auditing and rating the energy efficiency and environmental friendliness of buildings, certification systems provide a common point of reference for investors, developers and end users to value green buildings,” he said. “We are therefore hopeful that the dialogue we have witnessed during conferences such as these will lead to a pan-ASEAN system of certification which will help to regionalise the trend of green buildings.” Oxford Business Group’s reports include a detailed, sector-by-sector guide for foreign investors together with a wide range of interviews with the most prominent political, economic and business leaders. The reports, which are firmly established in the region as market leaders on foreign direct investment into each country, mark the culmination of more than six months of on-the-ground research by a team of analysts from the Group. The reports provide information on opportunities for foreign direct investment into each economy and act as a guide to the many facets of the country including its macroeconomics, infrastructure, banking and sectoral developments. They are available in print and on line. -KPA- Click for photo release at www.thaipr.net

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