Mary Digiglio, partner at SWAAB Attorneys, and PFA have prepared a report explaining the purpose and meaning of Environment Upgrade Agreements.
Mary Digiglio, partner at SWAAB Attorneys recently gave a presentation at the Australian Property Institute on CBD legislation.
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.
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.
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.
The deadline for proposal submissions is 5pm on 30th September 2011.
More information on the Request for Proposals can be found at:
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: Building Better Returns Research Report (2386k)
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:
PFA have recently submited a submission to the Department of Climate Change and Energy Efficiency (DCCEE).
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.
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 ADPIA 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.
Watch this space to find out about the first Networking Drinks Event for 2013
The Fifth Estate - Sustainable Property News & Forum
The Fifth Estate provides news and networking on sustainable property in Australia. By and for passionate people and motivated companies who are determined to harness the power of the built environment to save the planet.
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