The economics of eco-cities
With this apparent eco-incompetence, it’s easy to wonder why China continues to crank out eco-cities. The answer is simple: They make money.
“If a place has eco elements the price [of real estate] is bumped up,†Marco Zhou from Colliers, a global real estate services company, said.
China is trying to drive environmental consciousness by making it profitable. This is encouraged from the top-down by China’s central government, which is currently pumping massive amounts of subsidies into developments, buildings and technologies that carry the “green†label.
“Being an eco-city makes it easier to get funds from the central government,†said Daan Roggeveen, the founder of the Shanghai based MORE Architecture, “which is important, since many cities do not have the funds to improve their livability.â€
Today, supporting eco-labeled development initiatives is a part of the criteria for promotion within the Communist Party. The impetus to â€build green†is greater than ever.
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