Sustainability Flashcards
(47 cards)
Can you name some RICS sustainability best practice guidance?
- Red Book
- VPGA 8
- Sustainability and ESG Guidance in Commercial Property Valuation & Strategic Advice 2021
- Guidance note ‘Environmental Risks and Global Real Estate’
What is the net zero goal?
Climate Change Act 2008
Net Zero by 2050
78% reduction by 2030
What is net zero?
Achieving a balance - where greenhouse gas emissions released into the atmosphere are offset by the relevant amount removed from the atmosphere
What is the Green Industrial Revolution?
Government initiative to fast track to net zero
£12bn of government investment
250,000 ‘green jobs’
What are ‘green jobs’?
Roles that directly contribute to protecting and restoring the environment ie
- Transport infrastructure
- Renewable energy
- Building energy efficiency
What is the Building Better Partnership Pledge?
Acknowledges the transformation required by the Real Estate sector to achieve net zero by 2050.
What are the elements of the Building Better Partnership Pledge?
- Establish net zero carbon scope
- Reduce the impact of construction
- Reduce operational energy use
- Increase renewal energy supply
- Offset remaining carbon
What are the goals of the carbon budget?
- Higher standard of energy conservation in new buildings
- Establishing a calculation method for energy performance
- Minimum requirements for energy efficiency of all buildings
- Mandatory energy certificates for all buildings when let/sold
- Mandatory inspections of boilers / AC systems
When are EPCs required?
- All commercial properties over 50 sq m.
- Newly built, sold or leased (for more than 6 months, less than 99 yrs), assignments and sub-lettings
What are the exemptions from having an EPC?
- Listed buildings IF the requirements would unacceptably alter the building
- Temporary buildings
- Buildings with no heating
- Religious buildings
What are the EPC rules for marketing?
An EPC must be commissioned within 7 days of marketing and provided within 28 days.
Responsibility with the agent.
What must online marketing include, in relation to the EPC?
A link to the EPC
What does the front cover of an EPC include?
- Property Size
- Date
- Rating achieved
- EPC ref no.
- Benchmarking information
How long are EPCs valid for?
10 years UNLESS the building is altered and then a new EPC is required.
Who polices the EPC regulations? What are the fines for non-compliance?
The Local Authority Trading Standards department
Fine for commercial = 12.5% of RV (min of £500, max of £5,000)
What does MEES stand for?
Minimum Energy Efficiency Standards
What are the regulations under MEES?
All properties = min EPC rating of and E for all new leases
Commercial properties = min EPC rating of an E for all existing leases (2020 for residential)
What are the exemptions from the MEES?
- Devaluation
- New Landlord
- Wall insulation
- All improvements made
- High cost (domestic only)
- Consent
- 7 year payback
Explain the Devaluation exemption to me?
When it is proven that the works would devalue the property by more than 5%
Explain the 7 year payback exemption to me?
Energy bill savings must equal the cost of installing the improvement in 7 years.
What is the ‘all improvements made’ exemption?
When the landlord has made all the improvements that can be made, and the property still achieves below an E rating
What is the wall insulation exemption?
Where wall insulation is not suitable in certain situations, even though it has been recommended
What are the penalties for non-compliance with MEES for a commercial property?
Breach of under 3 months:
- Fine of £5k or 10% of rateable value up to £50k (whichever is greater)
Breach of over 3 months:
- Fine of £10k or 20% of RV up to £150k.
What is ESOS?
Energy Saving Opportunities Scheme - businesses who turnover more than £44m are legally required to comply and report energy usage
