Changes to Commercial Building Disclosure program target smaller properties

Source: Norman Disney & Young - www.ndy.com 

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17 February 2016

Norman Disney & Young: The Australian Government released its long-anticipated review of the Commercial Building Disclosure (CBD) Program on Friday 5 February.

The Minister for Resources and Energy, Josh Frydenberg, is proposing to continue the CBD Program and:

The prospect of retaining and extending the CBD program should be pleasing for the Australian property industry according to NDY’s global head of sustainability Tony Arnel*.  

He says that the obligation to rate energy efficiency for existing buildings had been a game changer for the industry.  

“It has meant that owners or lessees of poor performing buildings have no where to hide and that market entrants have the ability to choose more efficient buildings. This means they save money.”  

According to Arnel, if the threshold for reporting is reduced to 1000 sq m, as recommended by ACIL Allen, this will mean an even bigger shake up for the mid and lower levels of the office market. As well as significant energy savings, the office worker productivity gains are also a huge benefit.

The review makes an important finding that the economic benefits of improved office worker productivity could be double the benefits of energy savings and greenhouse gas reductions. 

While the review conservatively estimates that energy and greenhouse savings from the CBD program over 2010-2014 were $72 million Net Present Value (NPV), worker productivity improvements were conservatively estimated at $111 million to $167 million NPV.

This is a grounbreaking piece of work that Arnel says “could shift the way that energy efficiency is valued in Australian policy.”

For more information on the CBD program, visit http://cbd.gov.au/overview-of-the-program/cbd-review

 

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