India, Nov. 5 -- Two office buildings may look equally attractive, offer similar amenities and command comparable rents. Yet one could consume twice as much electricity and substantially more freshwater than the other. That difference affects operating costs, the attractiveness of the property and its long-term value, yet is rarely visible when buildings are marketed, leased or valued. And when buildings consume more energy and water than necessary, the consequences extend beyond individual properties: They add to the energy and water infrastructure that must be built and the public and private investment needed to support it.

Yet there is a considerable opportunity here. Buildings can be designed and operated to consume substantially le...