Sustainability has become one of the most important considerations in modern real estate development. What was once viewed as a competitive advantage is now a fundamental expectation among investors, businesses, and consumers.

Kunal Bansal believes that sustainable development is essential for creating resilient communities and ensuring long-term economic success. As environmental challenges continue to grow, developers have an increasing responsibility to adopt practices that minimize environmental impact while maximizing efficiency.

Green building technologies, energy-efficient systems, and water conservation measures are becoming standard features in contemporary developments. These initiatives not only reduce operational costs but also contribute to healthier living and working environments.

Consumers are increasingly prioritizing sustainability when making purchasing decisions. Homebuyers and tenants often prefer properties that align with their environmental values and offer long-term cost savings through efficient design.

For businesses, sustainability can enhance brand reputation and attract environmentally conscious stakeholders. Investors also recognize the growing value of sustainable assets, which often demonstrate stronger performance over time.

Kunal Bansal advocates for integrating sustainability into every stage of development, from planning and design to construction and operation. This holistic approach ensures that projects remain relevant in an evolving market while contributing positively to society.

It seems like a larger percentage of new construction is advertising some form of green building practices. Many are claiming they are LEED certified, which is Greek to me. What is LEED and what does it take to get certified?

In short, Leadership in Energy and Environmental Design (LEED) was developed by the U.S. Green Building Council (USGBC). It is an internationally recognized certification system that provides proof that commercial and residential buildings are designed, constructed and operated using eco-friendly practices. In order to be considered for this certification, a building needs to promote sustainability in nine key areas throughout the whole planning and building phase. A few of the key areas are energy savings, water efficiency, reduction in CO2 emissions and reduction of waste. In order to achieve this certification, a building must fulfill all prerequisites and earn a minimum of 40 points.  Each building can earn up to 100 points with an additional 10 bonus points and points are accumulated by fulfilling requirements in each of the nine key areas. 

So why is this certification important? While it is not a requirement to build, it may help developers and owners better market their properties to potential buyers and tenants, many of which are becoming more environmentally conscious. In addition, these measures typically help reduce operating expenses, thus reducing costs. So, in the end, it makes social and economic sense.