Decisions by Key Office Building Stakeholders to Build or Retrofit Green in Toronto’s Urban Core

The environmental impact of greenhouse gas emissions from buildings—especially in global cities such as Toronto—is well documented. Green mitigation new and existing buildings has also been researched. Few studies, however, have focused on the decision to build or retrofit green. Are key stakeholders Toronto’s office building sector aligning their decisions achieve sustainable goals? Do they support LEED certification regardless market valuation? tenants willing pay higher rents buildings? study first obtained data 16 52 conventional determine if a significant net asking rent. Pearson correlation linear regression analysis did not find be statistically explaining variance rent (market value). second stage included interviews with senior executives engaged sector. expert informtabants were asked assess financial drivers are deciding factor pursue certification. They concurred that is primary driver. It combination numerous factors overall an firm’s bottom line.