Not necessarily. LEED certification is a true third-party certification of environmental performance of buildings. Over the last five to six years, LEED has grown nationally and internationally, and it has become a recognized environmental plan for environmental performance in buildings.
From our projects, 40% are now private sector. It gives the private sector projects an edge in the marketplace. They can market the units in an office as a green project. They can demand higher lease rates while having lower operating costs. It means a lot of money in the pockets of developers.
On the institutional side, cities are using it to show real, on-the-ground action on climate change and sustainability. Provincial and federal governments have subscribed to it to set an example of what can be done in terms of reducing environmental impacts and providing better comfort for the people who work and live in those buildings.
The benefits are quite far reaching.