Property Groups Unite to Tackle Climate Change

Thursday, 03 April 2008 22:19

Through the Existing Buildings Project, a landmark collaboration between the Total Environment Centre and the commercial property sector, 25 property groups accounting for around 75% of Australia's total investment grade office stock are gathering today to explore how office buildings can become part of the solution to climate change.
 
“Together with pledges already given by the GPT Group, Macquarie Office Trust, the Australian Prime Property Fund (Lend Lease), the Local Government Superannuation Scheme and Becton Property Group, this is the biggest push yet by the office property sector,” said Jeff Angel, the Executive Director of Total Environment Centre.
 
These commitments cover almost 70 office buildings throughout Australia's major cities and collectively account for almost 10% of Australia's investment grade office floor space. “If all office building owners and their tenants upgraded their buildings to an Australian Greenhouse Building Rating of 4.5 it would be the emissions equivalent of retiring almost all of Australia's heavy trucking fleet.”
 
Through energy use alone, office buildings account for around 3.5% of Australia's total greenhouse gas emissions. This figure grows considerably once the emissions associated with the materials and processes required to construct office buildings are considered.

“Recognition of the embodied emissions of building stock creates a crucial role for 'existing buildings' in Australia's response to climate change,” said Mr. Angel.
 
Whilst recent years have witnessed the rise of 'green buildings' the fact that up to 98% of floor space consists of 'existing buildings' (buildings built without sustainability considerations in mind) ensures that emissions reductions can only come from upgrading existing building stock.

"Replacing existing stock with new 'green buildings' would be an impossible step. On one estimate, a new building built to achieve and maintain an ABGR of 5.0 would not repay its embodied emissions for almost 300 years."
 
“Maximising the contribution that property can make to emissions reductions will require the upgrading of Australia's existing building stock. The greenest buildings are existing buildings that have been upgraded to achieve substantial gains in emissions performance. Organisations looking to reduce their carbon footprint should not be commissioning the construction of new 'green buildings.' They should be asking for the upgrading of existing buildings," Mr. Angel said.
The Existing Buildings Project is being funded by a NSW Government Climate Action Grant.