Making green affordable

Lebanon’s real estate sector is going green, with more than a little help from a powerful friend, Banque du Liban (BDL), the country’s central bank. Since BDL made subsidized loans for energy efficient projects available in 2010, developers have been making use of them, building to various international standards. Building green increases construction costs, which is why the subsidized loans are a great incentive for more eco-friendly developments in the country. We must, however, do a better job understanding what we’re getting for our money (i.e., what CO2 emission reduction does building green have in Lebanon). More importantly, we need to explore a larger basket of incentives for developers to meet a more pressing social need – affordable housing. And these new buildings must also meet modern environmental standards. Building an affordable home on the cheap is ultimately counter productive. Evidence for the impact of green buildings in reducing carbon