{"id":17580,"date":"2018-01-31T00:00:00","date_gmt":"2018-01-30T16:00:00","guid":{"rendered":"https:\/\/fass.nus.edu.sg\/srn\/2018\/01\/31\/are-green-certificates-effective-in-encouraging-more-environmentally-friendly-buildings\/"},"modified":"2021-02-08T15:38:33","modified_gmt":"2021-02-08T07:38:33","slug":"are-green-certificates-effective-in-encouraging-more-environmentally-friendly-buildings","status":"publish","type":"post","link":"https:\/\/fass.nus.edu.sg\/srn\/2018\/01\/31\/are-green-certificates-effective-in-encouraging-more-environmentally-friendly-buildings\/","title":{"rendered":"Are \u2018green\u2019 certificates effective in encouraging more environmentally friendly buildings?"},"content":{"rendered":"<div align=\"justify\"><span style=\"color: black\">In this monthly \u201cAsk NUS Economist\u201d series, Dr Eric Fesselmeyer<\/span><span style=\"font-family: 'Times New Roman', serif;font-size: medium\"> (<\/span><span style=\"color: black\">Senior Lecturer<\/span><span style=\"font-family: 'Times New Roman', serif;font-size: medium\">, <\/span><span style=\"color: black\">NUS Department of Economics<\/span><span style=\"font-family: 'Times New Roman', serif;font-size: medium\">)<\/span><span style=\"color: black\"> discusses the effectiveness of Singapore\u2019s Green Mark Award initiative in incentivizing property developers to be more environmentally friendly. The certificate is given to properties that are deemed to have achieved a sufficient level of environmental friendliness, and is meant to act as an indicator for buyers of the environmental impact of the property.<\/span><\/div>\n<div align=\"justify\"><span style=\"font-family: Times New Roman,serif;font-size: medium\"><span style=\"color: black\">\u00a0<\/span><\/span><\/div>\n<div align=\"justify\"><span style=\"font-family: Times New Roman,serif;font-size: medium\"><span style=\"color: black\">From his recently published research, Dr Fesselmeyer finds that for properties given the Green Mark Award, prices can increase by up to 4.1 percent. This reflects the efficacy of the policy, given that property developers are therefore more motivated to achieve green certification in their projects. Dr Fesselmeyer <\/span>points out<span style=\"color: black\"> that the award makes less salient features such as better energy management more obvious for buyers and identifies this as one of the main reasons for the initiative\u2019s effectiveness. The research findings thus suggest that certification is an important policy tool to help mitigate the environmental impact of residential buildings. <\/span><\/span><\/div>\n<div align=\"justify\"><span style=\"font-family: Times New Roman,serif;font-size: medium\"><span style=\"color: black\"><span lang=\"en-US\">\u00a0<\/span><\/span><\/span><\/div>\n<div><span style=\"font-family: Times New Roman,serif;font-size: medium\"><span style=\"color: black\"><span lang=\"en-US\">Read <\/span><\/span><span lang=\"en-US\">Dr Fesselmeyer\u2019s editorial<\/span><span style=\"color: black\"><span lang=\"en-US\"><a href=\"http:\/\/www.straitstimes.com\/opinion\/green-mark-awards-and-property-prices\"> here<\/a>.<\/span><\/span><\/span><\/div>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In this monthly \u201cAsk NUS Economist\u201d series, Dr Eric Fesselmeyer (Senior Lecturer, NUS Department of Economics) discusses the effectiveness of Singapore\u2019s Green Mark Award initiative in incentivizing property developers to be more environmentally friendly. The certificate is given to properties that are deemed to have achieved a sufficient level of environmental friendliness, and is meant [&hellip;]<\/p>\n","protected":false},"author":247,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"site-sidebar-layout":"default","site-content-layout":"default","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[4529],"tags":[],"class_list":["post-17580","post","type-post","status-publish","format-standard","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/fass.nus.edu.sg\/srn\/wp-json\/wp\/v2\/posts\/17580","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/fass.nus.edu.sg\/srn\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fass.nus.edu.sg\/srn\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fass.nus.edu.sg\/srn\/wp-json\/wp\/v2\/users\/247"}],"replies":[{"embeddable":true,"href":"https:\/\/fass.nus.edu.sg\/srn\/wp-json\/wp\/v2\/comments?post=17580"}],"version-history":[{"count":3,"href":"https:\/\/fass.nus.edu.sg\/srn\/wp-json\/wp\/v2\/posts\/17580\/revisions"}],"predecessor-version":[{"id":28209,"href":"https:\/\/fass.nus.edu.sg\/srn\/wp-json\/wp\/v2\/posts\/17580\/revisions\/28209"}],"wp:attachment":[{"href":"https:\/\/fass.nus.edu.sg\/srn\/wp-json\/wp\/v2\/media?parent=17580"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fass.nus.edu.sg\/srn\/wp-json\/wp\/v2\/categories?post=17580"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fass.nus.edu.sg\/srn\/wp-json\/wp\/v2\/tags?post=17580"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}