Petaling Jaya: Andermatt Swiss Alps Regional Director Maureen Yeo said changes in the regulatory framework towards stricter sustainability requirements in the real estate sector are expected.
He said that as well as imposing stricter requirements, steps would also be taken to encourage and reward developers and stakeholders for adopting environmentally friendly construction methods and practices.
“The concept of green buildings will expand to encompass not only energy and water efficiency, but also occupant health and wellbeing, biodiversity and climate change resilience,” Mr Yeo said. sunbiz.
But more transparency is needed about sustainability practices and performance data from developers, she said.
“True sustainable initiatives typically involve high levels of openness and detailed information sharing,” she added.
Mr Yeo said the challenge for the real estate sector is that unlike consumer goods, where claims can often be verified immediately, its sustainability impact is measured over years or even decades. .
“The technical nature of building sustainability…elements like energy efficiency and material sourcing…requires specialized knowledge, making it difficult for consumers and investors to accurately assess claims.” she stated.
Mr Yeo said transparency and education are key to overcoming these challenges.
“Developers should aim to provide detailed and easily accessible reports on their sustainability practices, including metrics such as energy consumption, water usage, and materials used.”
Mr Yeo said the warning signs and red flags that indicate the potential presence of greenwashing in real estate projects lack specificity or evidence of actual sustainability measures, and ambiguity such as the term “green” This includes the use of environmental claims.
Another red flag is the lack of third-party certification from recognized standards such as Malaysia’s green rating system Green Building Index that could verify a project’s environmental claims.
“Projects that emphasize small green features as a primary outcome are also questionable. True sustainability requires building in environmental considerations from the beginning, rather than as an afterthought.
“Finally, over-reliance on promises about future sustainability capabilities without a clear implementation plan is a significant indicator of greenwashing,” she added.
Mr Yeo said being aware of these indicators can help consumers and investors distinguish between truly sustainable real estate projects and those that simply use green claims as a marketing strategy.
Malaysia has standards such as Leadership in Energy and Environmental Design, Green Building Index, and Building Institute Environmental Assessment Act.
Switzerland follows the Minergie Standards, a Swiss quality certification for buildings designed with a focus on sustainability and reducing energy demand.
Mr Yeo said these tools are effective in combating greenwashing and provide stakeholders with some assurance that project developers’ sustainability claims are not only sincere but substantiated. Stated.
“These certifications set rigorous benchmarks for sustainability and require detailed documentation and regular evaluation to ensure projects meet high sustainability standards,” she said. added.