Commercial Building Disclosure program review
The Minister for Resources, Energy and Northern Australia, the Hon Josh Frydenberg MP, has released the Commercial Buildings Disclosure (CBD) Program Review. Recommendations from the review are open for public consultation.
Currently, the CBD program mandates the disclosure of energy efficiency information for commercial office spaces of at least 2000 m2. Disclosure of this information assists prospective buyers and tenants in making informed decisions. This, in turn, encourages building owners to implement energy efficiency measures.
The CBD program has abated over two million tonnes of greenhouse gas emissions between 2010 and 2014.
‘The review notes the effectiveness of the CBD program in encouraging better energy efficiency at a minimal cost to industry and government. Through increasing energy efficiency in Australia’s large office buildings, the program has delivered $44 million in benefits over the last four years,’ Minister Frydenberg said.
The proposed regulatory changes include:
- increasing certification validity for energy-efficiency office lighting assessments from one to five years.
- halving the threshold for mandatory disclosure of energy-efficiency information on buildings from 2,000 m2 to 1,000 m2 . Extending the disclosure requirements will contribute to reaching the government’s target of increasing Australia’s energy productivity by 40% by 2030.
The Department of Industry, Innovation and Science is undertaking public consultation on the proposed changes, until 12 March 2016. Feedback will be used to inform the Minister’s decision on implementing the proposed changes to the CBD program.
For more information, see Review of the Commercial Building Disclosure program.