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Property industry ready for 2050 challenge

The Property Council of Australia has welcomed the Federal Government’s release of a whole-of-economy plan to achieve net zero emissions by 2050.

Property Council Chief Executive, Ken Morrison, said that Australia’s property industry stands ready to assist the government in achieving this national goal.

“The Plan rightly recognises the importance of Australia’s building sector in achieving the goal of net zero by 2050,” Mr Morrison said.

“Residential and commercial buildings contribute around a quarter of Australia’s emissions and account for just under half of Australia’s electricity consumption, so will need to be a big part of the solution.”

“Australia’s property industry has already been a world leader in emissions reductions in the built environment, having spent over a decade on top of the global real estate sustainability benchmark index.”

“The government’s analysis shows the property industry will need to nearly decarbonise for Australia to meet its economy-wide net zero goal.”

“The Plan recognises that to continue to reduce emissions from buildings, governments will need to consider new measures that will encourage large-scale refurbishments, retrofits and technology adoption in existing buildings to improve the performance of existing stock.”

“The property sector is excited about the opportunities that working towards this new target will bring for Australia’s largest industry.”

The Property Council has been a strong long term advocate for improving the energy performance of existing building stock through our Every Building Counts joint policy package.

Media contact: Richard Lindsay | M 0422 022 746 | E [email protected]