16-May-2008

Climate change is in the political crosshairs, with presidential candidates on both sides of the aisle advocating policies to reduce greenhouse emissions, particularly carbon dioxide, the Daily Real Estate News reported.

That could mean big changes for commercial real estate since buildings account for 29 percent of all carbon dioxide emissions, Andy Ehrlich of B&D Consulting was quoted as saying after speaking to the Commercial Legislative and Regulatory Subcommittee at National Association of Realtors' Midyear Meetings in Washington, D.C.

Even without regulation, higher fuel prices and growing tenant demand are greatly increasing the demand for green buildings, Ehrlich went on to say. While green buildings account for only about 2 percent of new commercial construction today, Ehrlich estimated that by 2010 that number could increase to as much as 10 percent of new construction.