Green building industry gains traction in South Africa

The Green building industry in South Africa is gaining traction, with the market set to grow into a $260 billion industry by the end of 2023, according to the latest study from Market Research Future. Locally listed property group Baldwin is at the forefront of this movement, creating a record-breaking green registry. CEO Steve Brooks and Marloes Reinink, Founder and Director of Solid Green Consulting, recently joined CNBC Africa to discuss the financial viability and incentives behind going green in the industry. Steve Brooks, CEO of Baldwin, emphasized the importance of innovation in driving the company's commitment to sustainability. He highlighted the partnership with Solid Green and the dedication of all contractors and professionals towards creating a better world. Brooks debunked the myth of adverse cost implications, stating that innovation is key to making green initiatives work. The company is now focused on the next evolution with plans for six-star net-zero lifestyle centers, in collaboration with Solid Green. Brooks also discussed Baldwin's brand ethos, exemplified by the incorporation of a green leaf in their logo. The company has a strong focus on environmental projects and community engagement, aiming to leave a positive impact on the planet. Marloes Reinink praised Baldwin's pioneering efforts in the green property market, noting the growth of green buildings in South Africa over the past decade, particularly in the residential sector. One of the key challenges discussed during the interview was making going green attractive to consumers. Baldwin is working to enhance the living experience in their apartments by integrating energy-efficient solutions. Brooks revealed plans to collaborate with the Green Building Council to offer green mortgages, incentivizing customers to invest in sustainable properties. This initiative aims to facilitate the transition from rental to property ownership, contributing to the demand for green homes in South Africa. However, the industry still faces hurdles in driving widespread adoption of green practices. Reinink highlighted the lack of government incentives for green developments, emphasizing the voluntary and market-driven nature of sustainability initiatives. While the edge certification and green star certification are driving the market, there is a need for regulatory support to enforce green building standards. The conversation also delved into mindset and legislative challenges in promoting green lifestyles. Brooks emphasized the urgency of addressing environmental issues and stressed the need for sustainable practices. Despite the potential for punitive measures, Brooks advocated for a voluntary approach to sustainability, encouraging a collective effort to create a better world. He expressed willingness to share knowledge and collaborate with other developers to achieve edge certification without regulatory enforcement. In conclusion, Baldwin's innovative approach to sustainability sets a precedent for the green building industry in South Africa. By prioritizing innovation, collaboration, and environmental responsibility, the company is leading the way towards a greener future. As the industry continues to evolve, the emphasis on voluntary initiatives and consumer incentives remains crucial in driving widespread adoption of sustainable practices.