The development of green buildings brings opportunities to achieve energy efficiency and low-carbon societies. However, opportunities are not without risks and unintended consequences. The article contributes to the academic literature on green building by undertaking a comparative assessment and analysis of green building development from both developed and developing countries across the globe. From the various experiences and best practices of the selected cities, the study conducts an in-depth evaluation of Metro Manila: an analysis of the opportunities and challenges of developing a green building sector. The outlook of the research spans the political, economic, technological, social, and environmental perspectives. Aside from paving the way for a low-carbon city, the development of the green building sector could provide socio-economic benefits to Manila through job opportunities, inter-sectoral collaborations, and development of energy-efficient and resilient technologies. However, these benefits can only be maximized if the present policies also address the inherent conditions of the city like traffic congestion, urban sprawl, safety, and personal security issues, and lack of reliable public transportation. Beyond a cost-benefit analysis, the study critically assesses the unintended risks and consequences of the green building sector development in Manila and recommends various policy strategies to mitigate them. The research concludes that, for Metro Manila to reap the benefits of green buildings, an inclusive and holistic policy planning, and implementation must be present to mitigate the risks and unintended consequences. (C) 2020 Elsevier B.V. All rights reserved.