Sustainability Flashcards
What is the definition of sustainability?
United Nations definitions:
“meeting the needs of the present without compromising the ability of future generations to meet their own needs”
What were the findings of the RICS sustainability report 2023
- 4600 professionals were asked of their views on keys issues relating to sustain
ability. - findings confirmed that nearly 50% of respondents report a rise in occupier and investor demand for climate adjusted real estate.
- findings confirmed that the industry is well educated on sustainability matters but appetite to invest is low due cost and ROI.
- 94% respondents believe sustainability increases rental and capital values.
Does RICS have any guidance on sustainabiity?
RICS Professional Standard: Sustainability and ESG
in commercial property
valuation and strategic advice 2021
RICS Professional Standard: Environmental risks and global real estate 2018.
What are the UK’s net zero carbon targets?
- achieve net zero by 2050
- interim target of reduce carbon emissions by 78% by 2030.
When is an EPC certificate required?
- required for all commercial buildings over 50 sq m.
- when newly built, sold, or let for more than 6 months.
What type of properties do not require an EPC certificate?
- religious buildings
- buildings due to be demolished.
- listed buildings
what are the EPC requirements for marketing?
- EPC must be commissioned within 7 days of marketing.
- Agents are responsible for procuring EPCs
How long is an EPC valid for?
10 years unless building has been altered.
What are the MEES?
- minimum EPC rating of E for a property to be let. (all existing leases from 1 april 2023).
What are the exemptions to MEES?
- if building does not require an EPC
- tenancies less than 6 months with no security of tenure
- tenancies longer than 99 years
- where improvements would devalue property more that 5%
- when it is not financially viable
What are the consequence of non-compliance with MEES ?
- policed by MEES
- if breach < 3 months - the higher of £5k or 10% of RV (max 50k)
- if breach is > 3 months - the higher of £10k or 20% of RV (£150k)
What is BREEAM?
- stands for Building Research Establishment Environmental Assessment Method.
- a voluntary environmental assessment tool for new and refurbished buildings.
- assessed based on environmental categories: energy consumption, waste management, water use, transport links, health and well being.
Ratings range from Pass - Outstanding.
What is NABERS?
- A sustainability tool used to rate and compare buildings.
- Based on building efficiency and provides a rating of 1 - 6 stars
- rating is based on metrics related to Energy, Water, Waste. indoor environment.
What are green clauses or green leases?
- typically are clauses that obligate both landlords to occupy a space in a sustainable way.
- typical clauses ensure LL & T share information about the use of energy, water and waste arising in a building.
Where can you go to find information about sustainable occupation of buildings?
The Better Buildings Partnership
- has a green lease toolkit for best practice on green clauses.
- other useful tool kits for LL and T on sustainable occupation.
