The property sector contributes nearly 25 per cent of carbon emissions in Australia, but there is potential to reduce office building emissions towards net zero.
The challenge is on for Australia to reduce carbon emissions from its commercial buildings. The good news is that the technology required for the task is already at hand.
Chris Wade, Property Lead with the Clean Energy Finance Corporation (CEFC), says his organisation is looking at what it can do beyond existing building codes to improve the energy efficiency and utilisation of renewable energy technologies in buildings.
The CEFC, which is owned by the Australian government, provides commercial finance to projects and technologies which are focused on renewable energy, low emissions and energy efficiency technologies.
“The property sector contributes nearly 25 per cent of carbon emissions in Australia,” says Wade. “The CEFC believes that the sector can play a key role in helping Australia achieve net zero emissions by the second half of the century. The technology is already available to help the sector to achieve that goal.”
A 2016 report, Low Carbon, High Performance, by the Australian Sustainable Built Environment Council estimated that taking advantage of the opportunities to reduce use of fossil fuel based energy could save households and businesses almost $20 billion by 2032.
The authors also calculated that ambitious energy efficiency, along with renewable energy technology and switching fuels, have the potential to result in net zero emission buildings by 2050.
But within some sectors of the property industry there is still low awareness of, and a lack of information about, best practice energy initiatives.