As many of you may be aware, the U.S. Green Building Council (USGBC) launched a new version of its LEED Rating System in November 2013. The update, called LEED Version 4, applies to individual credentials as well as building projects.

The USGBC has allowed an overlap of projects being submitted for consideration under LEED 2009 and LEED v4 standards. The deadline for LEED 2009 projects was originally set for June 15, 2015, but the USGBC recently announced that they are extending the deadline to October 31, 2016.

Here’s some more information about the deadline extension, from the USGBC press release:

“When USGBC launched LEED v4 last year, we set out with one goal in mind – to raise the bar in a way that challenges the building industry to reach higher than ever before. This is our nature and USGBC and its members’ collective mission,” said Rick Fedrizzi, CEO & Founding Chair, USGBC. “However, the market has requested additional time to prepare for LEED v4, so we are responding. “

In a survey conducted at last week’s Greenbuild conference, 61% of respondents said they are “not ready” or “unsure” if they are ready for LEED v4 and require additional time to prepare. Extending LEED 2009’s availability enables USGBC to work with the broader industry within a longer time frame to drive meaningful and comprehensive change.

“Our international LEED users, which account for some 50% of new LEED registrations, have also indicated they would like to have more time to move onto the new rating system,” Fedrizzi noted. “This extension will be especially helpful to them.”

LEED v4 has been in the market for nearly one year and will remain available for those market leaders who are ready.

“LEED v4 wasn’t designed to be easy. It is the next generation of green building and we are confident the market will meet us there as they have in years past,” added Fedrizzi. “When USGBC first pilot tested LEED in 1998, there weren’t many buildings that could qualify for LEED certification at the Platinum level. Now, more than 1,000 buildings have achieved it. With LEED, we have a responsibility to set a high bar and we know that many leaders are capable of reaching it, presently or in the very near future. We want to support our LEED users as they move the market forward with us, and allowing them to utilize the LEED 2009 rating system for a little longer will help facilitate that.”

“USGBC continues to develop new resources that support the market’s adoption of LEED,” added Fedrizzi. “The LEED Dynamic Plaque provides a vivid, real-time visualization of building performance data spanning water, energy, occupant satisfaction and more, giving building owners critical insight into how their building is performing. Every day, LEED is contributing to scores of new, innovative building technologies in the design, manufacturing and construction process, and has brought new, healthier building materials to market.

LEED has facilitated spectacular advances in building technologies, integrated design and operating practices. LEED is also largely responsible for the explosive growth of the green building sector, which supports or creates 7.9 million jobs across all 50 states and contributes $554 billion to the U.S. economy annually.