A Framework for Developing Green Building Rating Tools Based on Pakistan’s Local Context

Research on sustainable green building space design model integrating IoT technology

"How can the integration of Internet of Things (IoT) technology enhance the sustainability and efficiency of green building (G.B.) design?" is the central research question that this study attempts to answer. This investigation is important because it examines how green building and IoT technology can work together. It also provides important information about how to use contemporary technologies for environmental sustainability in the building sector. The paper examines a range of IoT applications in green buildings, focusing on this intersection. These applications include energy monitoring, occupant engagement, smart building automation, predictive maintenance, renewable energy integration, and data analytics for energy efficiency enhancements. The objective is to create a thorough and sustainable model for designing green building spaces that successfully incorporates IoT, offering industry professionals cutting-edge solutions and practical advice. The study uses a mixed-methods approach, integrating quantitative data analysis with qualitative case studies and literature reviews. It evaluates how IoT can improve energy management, indoor environmental quality, and resource optimization in diverse geographic contexts. The findings show that there has been a noticeable improvement in waste reduction, energy and water efficiency, and the upkeep of high-quality indoor environments after IoT integration. This study fills a major gap in the literature by offering a comprehensive model for IoT integration in green building design, which indicates its impact. This model positions IoT as a critical element in advancing sustainable urban development and offers a ground-breaking framework for the practical application of IoT in sustainable building practices. It also emphasizes the need for customized IoT solutions in green buildings. The paper identifies future research directions, including the investigation of advanced IoT applications in renewable energy and the evaluation of IoT's impact on occupant behavior and well-being, along with addressing cybersecurity concerns. It acknowledges the challenges associated with IoT implementation, such as the initial costs and specialized skills needed.

The Role of Mandatory Building Efficiency Disclosure on Green Building Price Premium: Evidence from Australia

Extensive studies have examined the financial performance of green buildings in recent years. The results have frequently observed that the premium of green buildings is time-varying and dependent on the study period and markets being examined. Further, virtually no dedicated study has been devoted to examine the role of mandatory building energy rating disclosure policies on green building price premium. This raises the question of whether the mandatory energy rating disclosure policies would have an influence on the financial performance of green buildings. This study assesses the premium of green buildings by considering the role of mandatory energy efficiency of commercial building disclosure program (CBDP) using the MCSI/IPD NABERS data over 2005–2020. The results of the study showed that, in Australia, buildings with NABERS rating of 4 stars and above delivered a higher total return compared with buildings with lower NABERS ratings. This also supports the Freeman’s (1984) social impact hypothesis in which favorable social performance will ultimately lead to favorable financial performance. In addition, our empirical modelling results also demonstrated the premium of green buildings is stronger since the launch of CBDP, reflecting the importance of mandatory building efficiency disclosure. The policy implications of our studies have also been discussed as buildings play a crucial role in achieving the United Nations Sustainable Development Goals (SDGs), particularly net-zero carbon emissions.

Sustainability Performance of Green Building Rating Systems (GBRSs) in an Integration Model

In most countries, more than one green building rating system (GBRS) is available on the market. Because of their different approaches, it is difficult to confirm which system can respond to sustainability requirements better. A building considered to be “green” by one Green Building Council (GBC) may fail to satisfy the requirements set by another council. The aim of this study is to evaluate the sustainability performance of GBRSs and establish an integrated model of multi-certification for optimal sustainability. A direct content analysis method was utilized to evaluate GBRSs’ qualitative performance using the ISO sustainable building standards. In this study, seven purposively selected multi-certified buildings were evaluated, and an integrated model was proposed as a better mechanism for the multi-certification process. The proposed integrated model contributes to the achievement of sustainability indicators. The model was implemented on case study buildings, and the proposed combination shows better sustainability performance than existing practice. The developed model helps practitioners in their selection of GBRSs in the multi-certification process. In addition, the performance evaluation of GBRSs will support the future update of GBRSs. The qualitative performance evaluation was performed considering mandatory requirements and prerequisite and credit requirements of selected rating systems, making the work a stronger approach than previous studies.

CEO Overconfidence and Corporate Governance in Affecting Australian Listed Construction and Property Firms’ Trading Activity

This paper aims to examine whether and to what extent overconfident CEOs affect Australian real estate investment trusts’ (A-REITs) property investment activities during their tenure as the CEO of A-REITs, covering the period 2000–2019. A-REITs’ property investment and disposal activities are separately modelled against CEOs shares in their companies (an indicator of CEO overconfidence), as well as other controlled variables. We found that around 68% of A-REIT CEOs are overconfident over the study period. However, our empirical results also indicated that CEO overconfidence did not have a profound impact on A-REITs’ investment activities, either property acquisitions or disposals. This could be explained by high corporate governance of A-REITs. Specifically, Australian construction and property companies are the leading market players in sustainability. As publicly quoted companies, listed property and construction companies, particularly A-REITs could be exposed to various managerial issues, including corporate CEO overconfidence and its influence on the investment decision-making process. However, this managerial issue could be minimized via an enhancement of corporate governance that is a key pillar of sustainability. The mitigation of corporate overconfidence and implementation of corporate governance mechanisms makes REITs more accountable to their investors. The implications of the findings have also been discussed.