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Sustainable Real Estate Must Be Holistic To Equate Sustainability

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  • Kwame Addae-Dapaah

Abstract

Climate warming and environmental concern have put almost every human activity, including real estate, in the spotlight. Although sustainable real estate, premised on the main eco-labels of sustainability as proxied by green buildings, has come a long way over the past decade, there are serious concerns about equating green buildings, and therefore sustainable real estate, to sustainability as enshrined in the Bruntland Commission’sdefinition of sustainability. This paper uses real-life sustainable real estate developments to investigate their sustainability on the basis of the triple bottom line – ecological, social and economic. The paper argues that although sustainable real estate has made, and is making encouraging progress, there is a long way to go to achieve sustainability, especially on the social and ecological fronts. Given that sustainability is a human survival imperative that is closely intertwined with ecological sustainability, the so-called sustainable real estate developments give a cause for concern. The results of the study could be useful to policymakers, real estate developers and investors and humanity as a whole.

Suggested Citation

  • Kwame Addae-Dapaah, 2019. "Sustainable Real Estate Must Be Holistic To Equate Sustainability," AfRES 2019-044, African Real Estate Society (AfRES).
    • Handle: RePEc:afr:wpaper:2019-044
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    Keywords

    ecological consumption; Economic Sustainability; holistic; human well-being; sustainability; Sustainable Real Estate;
    All these keywords.

    JEL classification:

    • R3 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location

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