Commercial Building Disclosure Program launches next month
A new requirement for commercial landlords across the country to disclose the energy efficiency of their properties is set to come into effect next month.
The Commercial Building Disclosure Program - also known as mandatory disclosure - will be in effect from November 1 and will see all property owners with commercial spaces larger than 2,000 sq m required to produce a Building Energy Efficiency Certificate.
This could see owners of older buildings look at new ways to make their property more energy-efficient, particularly when it comes to attracting new tenants.
Jones Lang LaSalle director of sustainability Joel Quintal told the Sydney Morning Herald that as all government departments at the state and federal level are required to lease green star-rated properties, it is inevitable that private sector firms will follow their example.
"'That will mean all non-green rated assets will be in need of upgrading or lose out on tenants," he pointed out.
Going green has another significant advantage for business tenants - lower electricity bills.
Electricity prices are a concern for many Australian homeowners and businesses, but large-scale energy efficiency improvements - as well as smaller measures such as turning office lights off and shutting down computers at the end of each working day - can help to reduce costs.
Posted by Charlie Moore