Ecologically Sustainable Development In Australia Environmental Sciences Essay

Ecologically Sustainable Development In Australia Environmental Sciences Essay Introduction The realities of Ecologically Sustainable Development (ESD) are emerging issues that are impacting on commercial property sector worldwide. The world today uses ample of natural resources which radically polluting the earth and destroying the natural environment. Over the past decade, green buildings and ecological sustainability began rising throughout the world.], and have emerged in the Australian property sector as a vigorous movement to create high-performance as a sustainable investment. One of the earliest general definitions of sustainability was adopted in 1987 by the United Nations World Commission on Environment and Development (WCED), which defined Sustainable Development as development that meets the needs of the present without compromising the ability of the future generation to meet their own needs (Muldavin 2010). Australian property sector is obliged to play a major role in meeting the ecological sustainability which improves occupants comfort and well-being. It als o minimizes environmental impacts whilst gives a good investment returns. The Green Building Council of Australia (GBCA) was formed to highlight the principles and practices of ecological sustainability through the Green Star Rating System. Kato et al. (2009) demonstrated that investors appetite is on the rise in which the sustainability is now set to become much more rampant in the property sector. Researchers have showcased those properties with a five-star National Australian Built Environment Rating System (NABERS) accreditation is expected to have an increased value up to 9 per cent whilst Green Star ratings accredited to a premium of up to 12 per cent. It also illustrates that energy efficient buildings leads to occupancy, sale price and rental premium. According to Beder (1996), sustainable investment has an increased significance in the property sector among all the relevant stakeholders to help save the environment, increases property values and ensures the economic growth to be continued in the future. Hence, it is vital to incorporate green features because it has great investment benefits gives an opportunity to use the resources effectively and efficiently while generating healthier and improved environment s for its occupants to live in over the entire life cycle of the building (Choi 2009). The evolution of Ecologically Sustainable Development (ESD) in Australia The concept of sustainable development has been evolved primarily with the establishment of Our Common Future report which is published by the World Commission on Environment and Development (WECD). The report, constituted as an important turning point for the concept of sustainable development which is comprehensively produced with partnership forged around the global. The report has been the catalyst for the evolution of the other conceptualization efforts. The chronology of sustainable development in Australia proximately relates to the evolution of the sustainable development at the international level. The policy statement on the environment entitled has been released by then Prime Minister following the release of the Brundtland report. This release began the Commonwealth Governments process of adapting the concepts of sustainable development for Australian conditions (Fisheries Management Paper 2002). To emphasize the importance of the environment in sustainable development, the Australian government adopted the term Ecologically Sustainable Development (ESD) to make sure that there is a balanced approach to dealing with economic, social and environmental issues. In 1990, the release of Ecologically Sustainable Development: A Commonwealth Discussion Paper and the formation of nine ESD Working Groups has further established the concepts, definition and principles of ESD. Thus, the National Strategy for Ecologically Sustainable Development or NSESD has been established with the development of the reports from these groups, along with deliberation of the relevant international plans and reports. Today, NSESD is still being the major policy document for sustainable development in Australia. The NSESD, which was endorsed by the Council of Australian Governments (COAG) in 1992, includes the official definition of ESD, a set of core objectives and a number of guiding principles. The related regulations are NSW Environmental Planning and Assessment Act 1979, NSW Protection of the Environment Administration Act 1991, The NSW Protection of the Environment Operations Act 1997, The Environment Protection and Biodiversity Conservation Act 1999 (EPBC Act), The Natural Heritage Trust of Australia Act 1997, and The Environment Protection and Biodiversity Conservation Act 1999. The definition listed in the strategy is that, ESD is development which aims to meet the needs of Australians today, while conserving our ecosystems for the benefit of future generations. In fact, the NSESD itself fulfils Australias obligation entered into in Rio de Janeiro in 1992 to implement Agenda 21 which has been the basis for the policy making (Fisheries Management Paper 2002). Each action implemented by Environment Australia was closely related the same basis as the NSESD and the COAG were from courses of action that aim to protect forests, the ocean, water, biological diversity and a greenhouse strategy. Australias policies were based on international strategies based from the 1992 Rio Earth Summit in which Australia through the federal government led by John Howard at the time was a signatory. The Green Building Rating Tools The Green Building Council of Australia (GBCA) launched the Green Star rating system for buildings in 2003. The Green Building rating tool is an important attribute of the GBCA, as it helps the building occupants, owners and investors to monitor and measure the sustainability and environmental impact of their buildings, hence to improve the buildings performance toward ecological sustainability. It leads the property sector to achieve real cost savings, improve occupant health and productivity, showcase innovation in sustainable building practices and reduce the environmental impact of buildings. Green Building rating system uses stars to rate the environmental performance of a building. Green Star is a comprehensive, national, voluntary environmental rating system that evaluates the environmental design and construction of buildings. Green Star was developed to set a standard of measurement for green buildings. Also, it promotes integrated, whole-building design, recognize environmental leadership, identify building life-cycle impacts and raise awareness of green building benefits. Buildings are evaluated based on nine environmental impact categories. The nine categories of Green Star Rating Tools are; Management, Indoor Environment Quality (IEQ), Energy, Transport, Water, Materials, Land Use Ecology, Emissions and Innovation. Within each category, points are awarded for buildings that have met the overall objectives of Green Star. The implications of Green Buildings in Property Investment Ecologically Sustainable Development (ESD) has been a paradigm favourable change towards green buildings practices in context of property investment, becoming progressively more prominent with each passing year since late 1990s. The Property Council of Australia and the Australian Property Institute are recently giving more importance to Ecologically Sustainable Development and Green building concepts and practices. Many well-establishes principles of ESD have been embraced in Australian Federal and State Government Legislation for a number of years now. The Property Investment sector has been showing a balanced concern towards the environment where they live, work and play, placing a balanced value to the well-being and integrity of the ecological system and the environment on top of the economic well-being, health, education, law and order, infrastructure. The Property Investment sector has been continually shifting towards sustainable development. This shift towards sustainability is due to the drives for profits and also building an image for the property sector. There are many implications in embracing the concept of green buildings in the context of property investment. These are some of the most prominent implications for the operational functions, both now and in the future. With the green building practices, there is a reduction of greenhouse gas emissions and reduction in wastage of valuable scarce resources such air, water and energy in the usage of commercial buildings thus provides greater recyclable usage. Also, it gives a reduction in polluting activity and toxicity levels, pertaining particularly to the use and management of industrial buildings. This is because there is a need for a greater emphasis on eco-friendly over the full life-cycle of commercial buildings and a need for greater energy efficiency in general, where commercial buildings are concerned. Besides, there is a change over from old-fashioned, highly polluting-based fuel and energy sources, to newer, cleaner, more eco-friendly and eco-efficient alternatives such as solar-based, wind-based and hydrogen-based sources. Green buildings are inexpensive to operate as they are built for water efficiency and high energy. There is a reduction in operating cost as they can save up to 20-30% of energy savings compared with industry standards. Green buildings delivers a higher return on investment and have a greater tenant attraction where it provides a healthy, environmental friendly and productive workplace that shows their obligation to corporate social responsibility. There is an enhanced marketability as green buildings have many prospective tenants in the waiting list. Green buildings have a greater comfort and productivity compared to non-green buildings in terms of fresh air, access of views of outdoors, natural light and has the control on individual workplace lighting and t emperature which directly affects the productivity. Moreover, green buildings have a reduced risk and liability. In addition, it gives a competitive advantage, command higher capital values with shorter vacant periods, slower depreciation, ultimately trading at a rental premium. Overall, as demand increases for ecological sustainability, it is seen as a more secure investment as shown by vacancies in green buildings as it offers better investment returns. Conclusions In respect to all of the ecologically sustainable development (ESD)-related legislation and the principles and practice of green buildings which has been adopted in Australia, it is now clear that buildings take responsibility in providing comfortable, safe, and prospective living or working environment for its occupants. This is because; comfort, productivity, functionality and energy efficiency are essential elements for ESD, not only for future generations, but also a necessity for current generations. Crook (2001) indicates that the term sustainability must embrace environmental, economic and as well as the social objectives. In the recent years, green buildings have captured serious attention and awareness. The current demand shows that a trend favoring green buildings are moving like hotcakes compared to those buildings that are not in terms with the principles and practice of ecological sustainability. Robinson (2008) states that getting a green rating is certainly an intelligent option in the context of Property Investment. In the rush to draw in environmentally conscious tenants, many building are promoting their green star certificates, often with no understandings of the green star rating system, how they work and what are the actual implications does the concept of green buildings have (Carter et al. 2007). The industry first of all needs to educate itself on the true meaning of Green and Ecological Sustainability. Developers and architects tries to create buildings or structures that are deemed to be iconic, but the new trend is for this status to be conferred by innovative design or sustainability rather than sheer size, as very tall buildings approach their use by date. According to Gomez (2006), green buildings have higher relative investment returns, higher market value for asset, increased productivity, higher rents and marketing advantage. Integrating Green building features into the construction of a building promises a good investment. However, further studies highlighting areas of perceived deficiency and flaws in green buildings and a more targeted effort in meeting the needs and expectations of investors in terms of workplace satisfaction, and areas that require specific attention in transitioning to green buildings are important. Ecological sustainability goals are possible to achieve but at a cost that involves a large amount of research, funds and commitment. Despite further study and data limitations and, the findings of this report concludes that building green is considered to be of great importance within the Property Investment sector because the growth and development of our communities has a large impact on our natural environment over the entire life cycle of the building.