The market meltdown has had little impact on the green building industry. The sector as a whole is projected to grow to almost $140 billion by 2013, from $49 billion today** and some professionals estimate that the industry will grow at a rate of over sixty percent (60%) in 2009, on a cumulative basis.

However, the third annual Annual Allen Matkins/CTG/Green Building Insider "Green Building Survey" suggests that the current global financial crisis is having a negative impact on the perceived value of a green building characteristic that is becoming synonymous with sustainability: LEED certification.

While the survey found that industry participants overwhelmingly perceive building green as highly attractive (93.4% of those surveyed believe it is worthwhile to build green) the percentage of respondents who valued LEED Certification as a key aspect of green building fell by approximately ten percent (10%).

The survey, which is one of the broadest in the industry, is very recent (completed in January 2009) and queried over 900 respondents such as design professionals, contractors, construction managers, consultants and owners. Not surprisingly, this year's respondents are more well-versed and experienced in green building than ever before.

The cause of the drop in the perceived value of LEED Certification may be due to the current financial crisis. While many studies of the costs of LEED Certification have shown that it is not materially more expensive to be "LEED green" than non-green, there may still be a residual concern over the costs of LEED. Additionally, alternatives to LEED Certification, such as Energy Star, Green Globes and NAHBGreen, and increased public knowledge of green building may be reducing the industry's reliance on LEED.

**According to a study by McGraw-Hill Construction