Sustainability Victoria’s Energy Efficient Office Buildings program
Find out how you can save money and energy by improving building performance
Sustainability Victoria’s Smarter Resources Smarter Business - Energy Efficient Office Buildings program provides funding and support for building owners to improve energy efficiency. Eligible building owners can access matched funding amounts of between $20,000 to $150,000 to carry out an opportunities analysis, building tuning and monitoring activities.
Research has shown that by making some simple adjustments to building system controls and operations, building owners can expect to save an average of $10,000 per year in energy costs (based on an average sized office of 2,500m2).
Eligible buildings must be:
- Non-premium, non-A grade buildings as defined by the Property Council of Australia
- Primarily used as an office
- Located in Victoria
- Built prior to, and not have had a major refurbishment or retrofit since, 2007
- Compliant with relevant legislative requirements including Essential Safety Measures
To download an application form visit www.sustainability.vic.gov.au/eeob or call 1300 363 744. Funding is approved on a rolling basis until program funding is exhausted, so don’t miss out.
Sustainability Legal Updates
30 September 2011
Environmental Upgrade Agreements
Mary Digiglio, partner at SWAAB Attorneys, and PFA have prepared a report explaining the purpose and meaning of Environment Upgrade Agreements.
To download a PDF copy of the report please click Environmental Upgrade Agreements
22nd April 2011
Mary Digiglio, partner at SWAAB Attorneys recently gave a presentation at the Australian Property Institute on CBD legislation.
To view the full presentation please click CBD Legislation
22nd April 2011
IAS 137 - Accounting for the damage
The proposed IAS 137 is forcing finance chiefs to rethink how they manage their liabilities for cleaning up contaminated land - and at least one company is ready with a solution.
To read the full article please click IAS 137 Accounting for the Damage
14th December 2010
Building Energy Efficiency Update
The Commercial Buildings Mandatory Disclosure Regime has undergone amendments, effective 29 November 2010, related to mixed use buildings and refurbishments. The Local Government Amendment (Environmental Upgrade Agreements) Bill 2010 facilitates a financing mechanism for building owners to implement major long term energy efficiency upgrades to buildings.
For further information click PFA (ADPIA) Mandatory Disclosure of Office Building Energy Efficiency
Low Carbon Australia helping your competitive advantage
There is no better time for business and industry to take steps to improve the energy performance of their buildings and operations, helping reduce costs and become energy smart and carbon savvy.
Investing in building retrofits, smarter new energy technologies and industry process upgrades is critical for long-term sustainability and positioning for the low carbon economy. This can help Australian business retain competitive advantage and will also be kinder to the environment.
Low Carbon Australia is ready right now to provide business with clean energy finance in the form of loans, equipment leases and capital for equipment which will upgrade the efficiency of their operations or buildings. This offers a smart way for business to take advantage of new energy savings technologies like LED lighting and highly efficient heating and cooling equipment through to advanced co-gen and tri-gen projects.
Low Carbon Australia has announced a new Request for Proposals looking for investment ready projects which have undergone the appropriate feasibility studies. Projects could include but are not limited to the office and retail sector; distribution and warehousing industries; education and health; manufacturing; leisure and community sectors as well as local government.
More information on Low Carbon Australia can be found in the following publications:
API/PFA - Building Better Returns Research Report
Research commissioned by the Australian Property Institute (API) and the Property Funds Association of Australia (PFA) is the first major Australian study to assess the added value of green office buildings in their financial performance. The research was undertaken by the University of Western Sydney (UWS) and the University of Maastricht, Netherlands in conjunction with Jones Lang LaSalle and CBRE.
The report identifies the future challenges and opportunities for the green office building agenda in Australia and provides the economic rationale for sustainable property investment and development.
Sponsors of the project are NAB and Brookfield Multiplex (Platinum Sponsors), Johnson Controls and Verdigris Capital (Gold Sponsors) and Cbus and Local Government Super (Supporting Sponsors).
Additional information: API Building Better Returns Report
API/PFA Seminar - Building Better Returns
API/PFA recently ran a seminar in Sydney and Melbourne on Building Better Returns which was presented by Dr Nils Kok, co-author of the ground breaking US study Doing Well by Doing Good.
The main topics of discussion were:
- Latest update on the US study
- Discussion on emerging global trends
- Sustainability credentials that international institutional investors are looking for
- Views on the development of the sustainability/investment sector and the future drivers
- What is happening in the Australian context - an overview of the Austrlian Research being undertaken by the University of Western Sydney and Maastricht University in conjunction with CBRE and JLL - "Building Better Returns?"
Tax Breaks for Green Building Consultation
PFA made a submission to the Department of Climate Change and Energy Efficiency (DCCEE) regarding tax breaks for green buildings.
Commercial Building Disclosure
The CBD website gives the latest information from the Government about the Commercial Building Disclosure program.
From 1 November 2010 most sellers or lessors of office space of 2,000 square metres or more will be required to obtain and disclose an up-to-date energy efficiency rating.
The A-Z of Property Sustainability
From ABGR to WGBC and everything about sustainability and commercial property in between. Here's PFA's new A-Z Guide to sustainability. What exactly are absorption chillers? What's tri-generation? What does "ESG" stand for? What's "FTSE 4 Good"? All the major acronyms, government programs and funding bodies are defined here, with links for further reading. A product of the PFA Sustainability Committee.
While the opportunities associated with embracing sustainability may have been overlooked previously (with the belief that it is just an “additional cost”), recent research and emerging industry response has confirmed there can be substantial benefits for investing in property with strong sustainability criteria. Such benefits may include:
- Greater returns
- Tighter yields
- Better lease covenants
- Rent premium
- Lower outgoings
- Long-term security
Education segments and sustainability market updates will be posted on this website regularly and PFA undertakes to further educate members on emerging sustainability trends via the annual conference and other forums as required.