'The Dollars and Sense of Green Retrofits'

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OAKLAND, Calif. -- Companies that pass up a chance to green their existing commercial buildings may never recover from the losses resulting from greater operating costs, lower productivity, negative brand image and declining attractiveness to workers, according to a recent study.

The study called “The Dollars and Sense of Green Retrofits” was co-authored by green real estate authority and consultant Charles Lockwood and Deloitte.

It was based on a survey of organizations or companies whose existing buildings underwent a green retrofitting. Participants were asked what motivated them to consider the projects and what influenced their decisions.

Findings concluded that while savings from energy efficiency was a top goal, as cited by 75 percent of respondents, corporate environmental commitment was the leading motive. Another 75 percent of respondents reported improvement in employee health. One hundred percent of respondents experienced an increase in goodwill/brand equity.

"The value of green retrofitting helps demonstrate that sustainability is rapidly becoming a critical business strategy," said Chris Park, leader of Deloitte’s Enterprise.

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