Spend more to make more
Pricey green products can reduce operating costs and deliver a profitable ROI, said LG Electronics.
The high cost of green products is deterring companies from spending that little bit more on something that will help our environment, said LG Electronics.
"Although the government is trying to drive going green, the customer paying for the new green equipment is not willing to pay extra," said Dharmesh Sawant, sales manager, LG Electronics, at a press conference on Tuesday.
Under the new green mandate launched by HH Sheikh Mohammed Bin Rashid Al Maktoum, all residential and commercial building owners in Dubai must comply with international, environmentally friendly standards.
While many argue that it costs more to go green, Sawant insists the initial higher capital cost can be recovered by a profitable return on investment (ROI), through reduced operating costs.
"The developer's mindset is slowly changing, but I urge people to look at the operating costs and not just the initial capital costs. Manufacturers also need to produce products that reduce energy consumption, there is now a need for equipment like this due to people wanting to benchmark against international standards," he added.
Sawant's comments came after LG Electronics launched its new Multi V series air conditioners to the residential and commercial markets.