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Chinese builders bemoan green costs, risking government targets

2014-12-11 22:09:00| Climate Ark Climate Change & Global Warming Newsfeed

Reuters: Chinese developers are opting against constructing environment-friendly real estate because costs far outweigh the incentives, jeopardizing the government's goal of building 1 billion square meters of green space by the end of next year. Developers get subsidies of up to 80 yuan ($13) per green square meter, topped up by local authorities. But it costs up to 300 yuan/sqm to plant trees, install renewable energy sources, recycle rain water and implement other steps to earn a maximum of three stars...

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