Property a big player in climate abatement

Property a big player in climate abatementAs Labor’s new Climate Change Action Plan promises to transition Australia to a ‘net zero’ emissions economy by 20, the property industry can be a vital partner in achieving carbon targets.The Federal Opposition’s plan includes a renewable electricity generation goal, an internationally-linked Emissions Trading Scheme and a suite of energy efficiency and transition measures.Shadow Environment Minister Mark Butler (pictured) says Labor’s ETS is yet to be designed.”We want to sit down and talk very closely with business and other stakeholders about what that scheme would look like,” he told the ABC last week.Welcoming the plan, Property Council of Australia chief executive Ken Morrison says the move towards an ETS is more appropriate for the property industry than a carbon tax. Morrison says the industry already sees “both the environmental and commercial potential of being more energy efficient” and is a “world leader in emissions reduction”.Australia’s property industry was ranked the “Global Green Leader” in the 2015 Global Real Estate Sustainability Benchmark, he says.The Opposition promises to double energy productivity, and to reform the energy market to remove barriers to large scale roll-out of onsite renewable energy and distributed energy.Morrison says the Turnbull Government’s current Emissions Reduction Fund provides little incentive or opportunity for property to participate, despite offering many of the least-cost emissions abatement opportunities available.”Energy efficiency improvements and fuel switching can reduce the projected 20 emissions from buildings by more than half,” Morrison explains.”There is also significant opportunity for distributed solar photovoltaics to eliminate the remaining emissions – resulting in net zero emissions from the industry by 20.”The built environment contributes 23 per cent of Australia’s emissions, so we are a vital partner is helping Australia achieve its carbon targets,” Morrison concluded.