ADOPTABILITY OF GREEN LEASE IN DEVELOPING COUNTRIES: THE CASE OF SRI LANKA

Abstract

The concept of Green Buildings is now being promoted as there is an increasing requirement for energy efficient buildings. With the boom of Green Buildings, Green Lease concept has become significant. However in Sri Lanka, presently Green Lease is not practiced very much. Nevertheless, attempts at adopting Green Lease cannot be ignored as there are clauses relevant to green buildings even in the existing lease agreements. Therefore, this research was carried out to investigate the adoptability of the Green Lease concept in Sri Lanka. Firstly, a literature synthesis was carried out to understand the Green Lease concept and its significance. Semi structured interviews and a documentary review were done thereafter to further identify the importance, and enablers and barriers of Green Lease. Subsequently, the findings were validated through expert interviews. The analysis revealed the significance of the Green Lease concept which provides a healthier work environment, lower utility charges and a good reputation for both the tenant and the landlord. However, there can be enablers and barriers of Green Lease. The contribution from the Green Building Council of Sri Lanka (GBCSL), the Government’s attempts to promote sustainable activities and conducting of business in Green Buildings are few of the enablers. Factors such as lack of policies and government rules, and poor awareness of the community about Green Lease are the significant barriers. The Government’s positive influence and the promotion of the Green Lease within the community will be beneficial towards adopting Green Lease. Several suggestions to minimize the identified barriers also have been made through the developmentof a framework.