Future of Autonomous Green Space Developments by Private Sectors

Abstract

In June, 2023，Ministry of Land, Infrastructure and Transportation (MLIT) published an interim report on the evaluation of qualified green space developments by private sectors. The report identifies that private sectors’ investments on green space developments will be indispensable for creating future livable cities, and that certification systems to evaluate private sectors’ green space developments are effective to properly guide their investment. However, private sectors’ investments can be classified into two categories as "heteronomy effort" and "autonomous effort”, and certification systems may only provide short-term motives to autonomous efforts. To provide long-term motives, social consensus and systems that encourage business continuity, corporate value improvement and property value improvement are needed. Establishing new systems that reflect such understandings are therefore necessary to encourage autonomous green space developments by private sectors.