EEO repeal good for property industry

EEO repeal good for property industryThe Property Council welcomes the news that the Energy Efficiency Opportunities (EEO) scheme is to be repealed, saying it will help lessen the regulatory burden on property companies.Property Council chief executive Ken Morrison said the repeal would remove needless reporting requirements and allow property companies to focus their attentions on the real business of sustainability.”The property industry has led the way on energy efficiency by adopting transparent rating tools and embracing competition,” he said. “Requiring property companies to demonstrate that commitment on an annual basis was redundant and costly.”He said the repeal of the EEO demonstrated the government’s commitment to cutting through red tape and that it would benefit the property industry to the tune of at least $17 million per annum.”By lowering the regulatory burden on property companies, measures like this can have a positive impact on the cost of housing and other property assets,” said Morrison.