Green Building Spurs Economic Growth in Canada: Report
In 2014, Canada’s green building industry generated $23.45 billion in GDP and supported nearly 300,000 jobs.
A new report from the Canada Green Building Council (CaGBC) and Delphi Group, sponsored by Toronto and Region Conservation Authority (TRCA) provides detailed insight into the economic impact of the green building in Canada over the past decade.
The report, Green Building in Canada: Assessing the Market Impacts & Opportunities, identifies Canada “as a global leader in green building,” with the highest number of LEED buildings per capita in the world.
From the news release:
The report finds, when indirect and induced contributions are included, the overall economic impact of Canada’s LEED projects certified from 2005 – 2015 will lead to $128 billion in gross output over their lifetime, $62.3 billion in total GDP, and create 701,700 jobs.
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The market penetration of LEED certified buildings in Canada has been growing over the last decade, from 0.8 per cent across all asset classes for the period of 2004-2009, reaching 10.7 per cent for all new construction floor space (for the period of 2009 to 2014). Leading the way, 22 per cent of all new commercial buildings, and approximately 30 per cent of all new institutional buildings constructed in Canada over the last five years were LEED certified.
Thomas Mueller, President and CEO of the Canada Green Building Council: “It is clear that Canada’s current economy would benefit from increased investment in green building and sustainable infrastructure. We believe that a national, cross-sector strategy, led by industry and supported by all levels of government, could help further accelerate the market transition toward an economy that benefits from reducing greenhouse gas emissions.”