Has The Economic Crisis Impacted The Levels Of Commitment Towards Sustainability Within The Property Industry?
The recent economic crises within the UK, Europe and the world continues to worsen and along with it growing concerns continue to increase over the fragile state of our environment with rising fears over climate change and global warming. Energy security along with the need to secure energy supply has been prioritised as a short to medium term objective by governmental authorities as climate change protocols appear to be set as a medium to long term priority. This hypothesis aims to assess the effects the recent economic crisis is having upon the property industries commitment to sustainability. It will provide an overview of the concept of sustainability, detailing the current constraints and the means by which it needs to be addressed in the future. This research paper will examine the legislations that have been produced to meet future targets within the property industry highlighting key initiatives for future sustainable development. Furthermore, it will deliberate the concept of green development identifying its key strengths, benefits and the provisions required to be incorporated in green leases and developments within the industry. It is essential that sustainability takes more precedence in the future to help curb global warming and in doing so establish the current global recession and its effects on sustainability with the realisation that the property industry must comply to promoting sustainability in order for greater environmental conditions. It seeks to identify the key roles and relationships faced by practitioners within the property industry and the need for mandatory procedures to adhere to regulation and establish greater levels of sustainable development in new and existing buildings. Dissertation objectives;
- To provide an overview of the concept of sustainability and its effects on the property industry
- Research the government’s laws and regulations towards promoting green development and betterment towards sustainability.
- To identify the problems of the economic crisis and its effect upon promoting sustainability
- To understand and anticipate practitioner’s commitment towards sustainable development and how the lapse in the commercial market and limited bank lending has affected their decisions