Combet introduces bill mandating energy disclosure by office building owners
Combet introduces bill mandating energy efficiency disclosure by office building owners
Ready or not - Mandatory Disclosure is on its way |
| 19 Mar 2010 |
| Assisting Minister for Climate Change and Energy Efficiency, Greg Combet yesterday introduced a bill that will require office building owners to disclose their building’s energy rating and lighting efficiency to perspective buyers and tenants. The Building Energy Efficiency Disclosure Bill will mean owners of large commercial office buildings – and head tenants sub letting office space – have to provide prospective purchasers and tenants with a building energy efficiency certificate containing the relevant information. Mandatory Disclosure obligations will apply to office space covering 2,000 square metres or more. |
| Failure to comply with the proposed disclosure requirements would carry a maximum penalty of $100,000 and misuse of energy information could lead to a maximum two year jail term. |
| “Penalties aside, the proposed legislation is set to change commercial buildings and the way they manage energy use,” comments Doug Binns, GM of AE Smith Emerald Sustainable Performance, who believes management of existing buildings via retrofitting, service and maintenance will be required to simply remain competitive during the sale or lease process. The Regulatory Impact Statement (RIS) for the bill says it’s reasonable to estimate there is a 20 – 30% gap between the average energy performance of the sector and the best performing buildings. “Very soon, key decision influencers typically associated with a building sale or lease will also include energy efficiency,” comments Binns, who adds that six, seven and eight star buildings or equivalent will become the new standard in the future. With so many existing commercial buildings around Australia not NABERS rated (a requirement for building energy efficiency certificates under the new legislation), AE Smith predicts a “rush” on assessment, certification as well as putting in place appropriate retrofit actions to help make commercial buildings more efficient and commercially attractive. “For very practical reasons, it’s important to allow enough time to collate base building data to assess the performance of your building,” adds Binns, who sites that NABERS ratings require 12 months of continuous data as part of the strict validation and verification protocols. To find out how to be fit and ready for Mandatory Disclosure, contact Doug Binns today on 0488 698 160. |
