Businesses 'will benefit from Sydney green building efforts'

Sydney businesses may be able to tackle rising electricity and gas prices through sustainable development, with one expert highlighting how a new government scheme is beneficial to local firms.

Robin Mellon, executive director at the Green Building Council of Australia (GBCA), said the NSW Environmental Upgrade Agreement (EUA) funding mechanism could help companies to realise the savings available through energy efficient upgrades to their properties.

The EUA initiative links building owners to financiers, with the latter party contributing funds for water, energy and other environmentally friendly renovations.

This money is recouped by the council through a special levy, which is then funnelled back to the financial provider.

The GBCA said tenants of these buildings will contribute to the charge, however, this will be offset by the substantial savings to their energy bills. 

Commenting on the first recipient of an EUA, a building on Valentine Avenue in Parramatta, Mr Mellon said the landmark award is just the beginning for the state.

"We are confident this will be the first of many EUAs, as tenants and building owners work together to unlock up to $2 billion in energy efficiency upgrades in the Sydney commercial property market alone," he explained.

Comparison switching services such as Make It Cheaper can help businesses to find the best deal from available electricity and gas suppliers.

Posted by Charlie Moore