With buildings responsible for a quarter of Australia’s emissions, the property industry “stands ready” to support the Australian Government’s new target of net zero emissions by 2050.
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Three key takeaways:
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The federal government has committed Australia to net zero targets by 2050 ahead of COP26, the global climate summit currently underway in Glasgow. The commitment sends a clear signal to industry and the global community. Australia must balance the carbon scales by removing as much or more carbon dioxide from the atmosphere than it emits.
According to the government’s analysis, the property industry must “nearly decarbonise” for Australia to meet its economy-wide net zero goal, notes Property Council chief executive Ken Morrison.
“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 Council has been a strong long-term advocate of high performing buildings, especially through the Every Building Counts policy package with the Green Building Council of Australia.
Davina Rooney, the GBCA’s chief executive officer, says achieving the government’s 2050 target will require the building sector to be net zero in operation by 2030. “That’s why we’re seeing Australian businesses, industry and governments commit to ambitious targets by 2030 and bringing them to life with tools that already exist.”
Every Building Counts calls on state governments to “set a long-term vision for net zero buildings,” and Morrison applauds the NSW’s Government’s $4.8 million investment, as part of its Net Zero Buildings program, to develop a new measurement framework for commercial buildings.
The NSW Government will develop a framework to measure and certify embodied carbon for new buildings, which will be developed in partnership with other governments and industry groups as part of the NABERS program. The framework will initially be rolled out to commercial buildings including offices, hotels, shopping centres and warehouses, with a view to expand it to residential buildings in the future.
Announcing the new investment, NSW energy and environment minister Matt Kean noted Australia’s global leadership, and said businesses participating in NABERS were reducing carbon emissions at one of the fastest rates in the world, slashing energy use by an average of 33 per cent since 2010.
The 2021 GRESB Real Estate Assessment ranked Australia’s property industry as best in the world for the eleventh consecutive year.
Rating systems like Green Star and NABERS are already driving down emissions.
Green Star-rated new buildings produce 55 per cent fewer greenhouse gas emissions than standard practice new buildings, according to the GBCA. They also use two thirds less electricity, half the water and send 96 per cent less waste to landfill during construction.
Buildings that have been rated with NABERS Energy over 14 rating periods demonstrate average energy savings of 37 per cent, with greenhouse gas emissions intensity dropping by 53 per cent.
The GBCA has also released research last week which confirms the gap between sustainable design intent and building operations is narrowing, with 88 per cent of offices analysed either achieving or within half a star of their modelled NABERS Energy rating.
Many Property Council members are signatories to WorldGBC’s Net Zero Carbon Buildings Commitment and are taking part in COP26 through the Cities, Regions and Built Environment Day.
Ken Morrison says the property sector is “excited about the opportunities that working towards this new target will bring for Australia’s largest industry”.
Frasers Property Australia’s Burwood Brickworks shopping centre in Melbourne was recognised as the world’s most sustainable shopping centre in April 2021 after achieving Living Building Challenge certification.