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Investing in Sustainable Built Environments: The Willingness to Pay for Green Roofs and Green Walls

Author

Listed:
  • Inês Teotónio

    (CERIS, Instituto Superior Técnico, University of Lisbon, 1049-001 Lisbon, Portugal)

  • Carlos Oliveira Cruz

    (CERIS, Department of Civil Engineering and Architecture and Georesources, Instituto Superior Técnico, University of Lisbon, 1049-001 Lisbon, Portugal)

  • Cristina Matos Silva

    (CERIS, Department of Civil Engineering and Architecture and Georesources, Instituto Superior Técnico, University of Lisbon, 1049-001 Lisbon, Portugal)

  • José Morais

    (Instituto Superior Técnico, University of Lisbon, 1049-001 Lisbon, Portugal)

Abstract

Green infrastructure, such as green roofs/walls, plays a key role in addressing urban problems. Despite the well-established sustainable mentality, aspects such as aesthetics, recreation, and welfare are still the main drivers for undertaking such investments. Several studies have focused on proving the benefits of green infrastructure, namely, thermal insulation, air quality, and others. However, significant soft benefits have not yet been properly addressed. It is, therefore, important to understand how much citizens are willing to invest in those mitigating measures and list the aspects that influence that value. This study suggests a methodology based on stated preferences to evaluate the willingness-to-pay of owner/tenants for green roofs/walls in residential buildings and determine the influence of multiple factors. Results show that consumers reveal higher willingness-to-pay for accessible green roofs. Knowledge of benefits and the accessibility of green roofs have a great impact on the willingness-to-pay. Recreation benefit is at the forefront of individuals’ concerns; even more than aesthetics.

Suggested Citation

  • Inês Teotónio & Carlos Oliveira Cruz & Cristina Matos Silva & José Morais, 2020. "Investing in Sustainable Built Environments: The Willingness to Pay for Green Roofs and Green Walls," Sustainability, MDPI, vol. 12(8), pages 1-14, April.
    • Handle: RePEc:gam:jsusta:v:12:y:2020:i:8:p:3210-:d:346072
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    References listed on IDEAS

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    2. Halkos, George E & Aslanidis, Panagiotis-Stavros & Landis, Conrad & Papadaki, Lydia & Koundouri, Phoebe, 2024. "A review on primary and cascading hazards by exploring individuals’ willingness-to-pay for urban sustainability policies," MPRA Paper 122262, University Library of Munich, Germany.
    3. Marzouk, Mai A. & Salheen, Mohamed A. & Fischer, Leonie K., 2024. "Towards sustainable urbanization in new cities: Social acceptance and preferences of agricultural and solar energy systems," Technology in Society, Elsevier, vol. 77(C).
    4. Ioannis Vardopoulos & Ioannis Vannas & George Xydis & Constantinos Vassiliades, 2023. "Homeowners’ Perceptions of Renewable Energy and Market Value of Sustainable Buildings," Energies, MDPI, vol. 16(10), pages 1-18, May.

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