Property industry welcomes Paris climate pact 

The Property Council of Australia has welcomed the commitment of nations around the world in reaching an historic new agreement on climate change in Paris, saying that property will play a significant role in achieving Australia’s targets.

Chief Executive Ken Morrison said the property industry welcomed the resolutions agreed to at COP21.

“We expect the property industry will be a significant contributor to achieving Australia’s 26-28 per cent emissions reductions targets to 2020 and the more ambitious targets likely to be set beyond that,” Mr Morrison said.

“The property industry is already actively implementing a variety of measures to achieve better environmental outcomes – and that work is paying off.

“Australian and New Zealand have ranked first for the last five yeas running in the leading international sustainability survey for the built environment (GRESB).

“But action to improve sustainability and reduce emissions across the board will inevitably need to go deeper and broader, as it will across the economy.

“For this we will need targeted government policies above and beyond the current settings.

 “The design of the Government’s centrepiece Emissions Reduction Fund policy effectively excludes the property industry.

“Remedying this exclusion is a good to starting point for Government and would allow the property industry to play a bigger role in helping it achieve its targets.”

In Australia, commercial buildings alone account for approximately 9.4 per cent of national emissions and 7.2 per cent of energy consumption.

Amending the ERF to: lower the minimum threshold to bid; allow upfront funding to occur; increase contract duration beyond 7 years; and support normalisation methods with other State Government programs, would allow the property industry to participate in the program.

Media contact:  Fiona Benson  |  M  0407 294 620  |   E  [email protected]