Automation, modernization, economic development and global progress depends on efficient extraction and utilization of energy. Power generation by burning fossil fuels makes various adverse impacts on the environment. Additionally, the worldwide fossil fuel reserve is limited and depleting very fast. Hence, efficient energy usage and savings are crucial to address the environmental issues to ensure sustainable development. Buildings, both commercial and residential, represent a major energy consumption sector. Approximately 40% of the total energy is reportedly consumed in the building sector. Worldwide building energy consumption, performance measuring systems and best practices, energy-saving techniques and policies are reviewed and summarized in this article. Underfloor air distribution, double-glazed windows, use of highly efficient electric motors and variable speed drives may play a great role in reducing building energy consumption. In the UK, the application of double-glazed windows in commercial buildings can save 39–53% energy. The proper maintenance of a building’s central heating system can save up to 11% energy. The automatic HVAC control system can reduce up to 20% of the building’s total heating load. Proper utilization of a VSD system in motor and building performance optimization by an ANOVA tool also proved instrumental in saving energy. Apart from this, the building codes of different countries also help to improve building performance by reducing energy consumption. This study will help building researchers and policymakers to make a framework for sustainable, green building.