Sustainability has the potential to bring enormous benefits to our built environment. To release this potential, a change in business models is required. The purpose of this paper is to investigate green business models (GBMs) transformation by adopting five essential elements of green value creation and capture: green value proposition (GVP), target group (TG), key activities (KA), key resources (KR), and financial logic (FL).
In this qualitative study, 19 semi-structured interviews were conducted. Interviewees were selected purposively. The emergent data were analysed with the aid of themes.
It was observed that significant effort was being made towards enabling the transformation of certain elements pertinent to green value creation: KA and KR. This was particularly so when compared to other elements like GVP, TG, and FL.
Findings from this study should encourage construction managers to align their extant BMs to green activities hence enabling new approaches to green value creation and capture. Furthermore, the study will aid in improving the environmental and economic positions of the value chain within the construction sector.
This research is one of the few empirical academic works investigating GBMs in the construction sector.
