The Property Council of Australia has welcomed today’s announcement of a $1.9 billion package of investment in future technologies, including $52.5 million earmarked for improved energy efficiency in residential and commercial buildings.
“The Property Council has been a long-standing advocate of more support to help property owners improve the energy efficiency of our built environment,” said Ken Morrison, Property Council Chief Executive.
“While this is a modest commitment in the overall scheme of things, it’s a great starting point and we look forward to working with the federal government on building the momentum for a more ambitious focus on energy efficiency in our built environment to drive down emissions while delivering more affordable and reliable energy.
“Given the government’s focus on technology-based solutions to reduce emissions, the built environment which accounts for around one-quarter of our emissions should be a priority for further government incentives and support.
“There is a potentially an important role for the property sector in supporting businesses in sectors such as manufacturing and industrial to reduce emissions, which are being targeted through a new $95 million Technology Co-Investment Fund as was recommended by the King Review.
“Improving energy efficiency in our built environment will be vital to reducing emissions while supporting jobs and the economy, and the Federal Government should continue to explore every opportunity to stimulate new investment and innovative approaches towards this important goal,” Mr Morrison said.
The Green Building Council of Australia (GBCA) welcomes the announcement as “a step in the right direction” while “urging more action” to reduce emissions.
“Meeting the global commitment to achieve net zero carbon emissions by 2050 means we need more investment in measures that address both the demand and supply side of the energy equation,” GBCA CEO Davina Rooney said.
“This new funding to improve the energy productivity of Australian homes and businesses is very welcome and something we have long been advocating for.
“While today’s announcements are headed in the right direction and support for more low emissions technology development is important, other policies and measures will be needed to drive the shift to a low emissions economy.
“We hope to see the Australian Government supporting more of the initiatives that industry has called for, from a uniform energy rating system for homes, to stronger, more robust appliance standards.
“We need to raise the bar at scale and across the board if we are going to make a real dent in the 23 per cent of Australia’s emissions that come from our built environment.
“It is no longer enough for leading companies and households to do all the heavy lifting.
“The Australian Government’s support for community organisations in particular to lower their energy bills through building performance upgrades recognises this need and we urge them to continue further down this path.”