Green building (GB) policies have been implemented to promote GB and address climate change. Most of the existing literature have studied the costs and benefits of developing GB, without considerations of GB policies’ impacts. This paper aims to study the costs and benefits of implementing GB policy from the developers’ perspective.

This research explores the carbon impact of current Value Engineering (VE) practices in Australia. To accomplish this goal, a complex mixed-use building in Sydney was modelled to determine the capital material costs and initial embodied carbon emissions before and after the VE process. The results support the suggestion of a positive relationship between embodied carbon and capital cost, as outlined in the literature.