Tokyo’s Urban Cap and Trade for Commercial Buildings Sees Huge Success in First Year of Operation

Maggie Comstock
Policy Analyst
U.S. Green Building Council

Tens of thousands of delegates from diverse backgrounds and geographical regions convened in Rio to protect the future we want through sustainable development policy. While progress was made on the negotiating text, few are satisfied with the level of commitments and accountability from national governments. However, the news from Rio isn’t entirely bleak. Subnational governments are leap-frogging the unambitious goals of national governments to realize their own goals of urban sustainability.

Me with Yuko Nishida, planner, Bureau of Environment
Metropolitan Government of Tokyo

The benefits of green buildings are becoming more mainstream as businesses and governments alike embrace the economic, brand, social and environmental benefits of green buildings. So what’s stopping every city in the world from building sustainably? Despite the quick payback periods of green building strategies, up-front costs to green construction still remain a significant barrier. Innovative financing solutions are now being promoted by the public and private sectors to overcome these barriers to green buildings.