Following a comprehensive review of the Commercial Building Disclosure (CBD) Program earlier this year, and public consultation on the proposed changes to the program, the Australian Government announced this week that the mandatory disclosure threshold on commercial office buildings will reduce from 2000 square metres to 1000 square metres starting 1st July 2017.
Importantly, this impending expansion of the regulatory requirements of the CBD program to include additional commercial office buildings, also comes with the announcement of reducing the regulatory requirements for the Tenancy Lighting Assessment (TLA) component by increasing the TLA validity period from 1 to 5 years from 1st September 2016. Continue reading
A federal scheme that requires commercial buildings to disclose their energy efficiency may be extended to more properties after proving its worth. A review of the Commercial Building Disclosure program, which began in 2010, found the scheme generated benefits of $44 million more than costs. The mandatory disclosure system encouraged behaviour change by owners, operators and tenants.
“This was particularly evident in buildings with relatively low initial levels of energy performance,” an ACIL Allen report found.
The report estimated large amounts of energy consumption and greenhouse gas emissions would be reduced as a result. The scheme covers about 5,000 buildings with 26 million square metres of space. It applies to office floor spaces of 2,000 square metres or more at the time of sale, lease or sublease. Continue reading
Have your say on proposed changes to the CBD Program
On the 4th February 2016, The Minister for Resources, Energy and Northern Australia, The Hon. Josh Frydenberg MP, released the report on the Commercial Buildings Disclosure (CBD) Program Review (http://cbd.gov.au/overview-of-the-program/cbd-review).
The independent review, produced by ACIL Allen Consulting, found the CBD Program to be a successful and effective way of delivering significant benefits at a minimal cost to industry and government. The review concluded the CBD Program has delivered $44 million in benefits over the last four years by assisting to improve the energy efficiency of Australia’s large office buildings. The Hon. Josh Frydenberg MP agreed that the CBD Program will continue and consideration would be given to the recommended regulatory changes that are projected to deliver an additional $13 million in energy efficiency benefits by 2028 and streamline industry regulatory obligations. Continue reading