Strategic Factors Affecting Green Building Industry: A Macro-Environmental Analysis Using PESTEL Framework

Abstract

For the last decade, green buildings have created a new industry of ecological buildings. However, this industry is still newly developing and finds limited implementation opportunities when compared to the traditional building industry. Therefore, for a more preferable green building industry, strategic factors that can have significant effects on the industry should be comprehended. Based on this argument, the present study aims (i) to identify these factors, (ii) to determine their importance levels, and lastly (iii) to find out their current levels of impact on the industry. To achieve this, a questionnaire survey was conducted for the Turkish green building industry through 32 industrial practitioners who have an official LEED Credentials. The results obtained were evaluated via the relative importance index method. Consequently, a total of 30 strategic factors were identified. Out of them, 28 were found to be significant while only 16 currently have a significant impact on the industry.