Sustainability Flashcards
What does the RICS do to improve sustainability within the industry?
Research, best practice guidance, training and certification.
What are some things on the current sustainability action agenda?
Potential building passports
Guidance on whole life carbon assessments
Valuation training
Building carbon database
What does it mean to achieve Net Zero? What is the UKs target date to achieve this?
Net zero means all carbon production is offset but other factors, like the planting of trees.
The UKs goal to achieve this is 2050.
Why is property a critical factor in achieving the UKs Net Zero target?
Property is the second highest producer of carbon emissions across their lifecycle, from construction to redevelopment.
How does the government plan to address the carbon emissions of property in the UK?
The “Green industrial revolution” was launched in 2020. This looks to change power generation, energy usage and building efficiency in the UK.
What is the UK green building council?
A council which aims to improve building efficiency within the UK by transforming design, construction and usage of buildings
What has the UK green building council recently implemented?
They have implemented a framework for the UK property industry to help reach the UKs 2050 net zero target.
What impact does sustainability have on demand and value?
Positive impact on value and demand. Occupiers are becoming more conscious of their environmental impacts and therefore this impacts values. Investors now look to future proof assets in terms of sustainability.
What basic works can be undertaken to improve the sustainability of a property?
Lighting, air conditioning, double glazing, workplace practice, sensors, natural light, green leases etc.
What are some key forms of sustainability accreditation in property?
BREEAM ratings
WELL Buildings
LEED Building
SKA Fitout Rating
When is an EPC required?
Sale, lease, development or refurbishment
What properties are exempt from EPCs?
Places of worship, listed buildings, standalone buildings under 50 sq. m., buildings without heating, temporary structures
When is an EPC required in marketing a property?
You should include an EPC in the brochure of the property. If you don’t, a new EPC must be commissioned within 7 days.
What are the current requirements with EPCs under MEES?
Cannot let a property with an EPC under ‘E’ rating
What are the changes coming to MEES regulations?
From 1 April 2023, any existing letting with an EPC below an ‘E’ rating will be void. This is also likely to increase further in the future with a target of ‘C’ rating as a minimum by 2030.
What must an EPC contain?
Address, rating (both letter and number), area, estimated running costs and information on the current energy provisions.
What are the penalties for breaching EPC regulations?
10% RV up to £50k for sub three months breach
20% RV up to £150k for over three month breach
What are the exemptions to MEES?
Place of worship, listed building, not cost effective, sub 6 months or over 99 year lease, devaluation
What are the penalties for breaching MEES?
Sub 3 months = 10% RV up to £50,000
Over 3 months = 20% RV up to £150,000
What is a BREEAM Rating?
Building research establishment environmental assessment method.
Voluntary rating assessment that can no be required under planning permission.
Considers sustainability of building environmentally and socially.
What are the ratings within BREEAM?
Outstanding, Excellent, Very good, Good, Pass
What guidance is there for occupiers on how to reduce their energy consumption?
Publication by the Better Building Partnership (BBP)
Gives guidance on works and green leases etc.
How does the build environment have an impact on economic, social and environmental sustainability?
Economically creating investment, jobs, placemaking
Socially in providing employment, creating a culture and through planning
Environmentally with increasing regulation, a focus on good design and whole-lifecycle energy saving
Why are occupiers increasingly focused on sustainability credentials?
Many benefits to their business. Benefits image, benefits talent attraction and retention, benefits energy usage and costs, futureproofs freehold assets
What are the implications of EPCs on Landlords?
Impacting property values the closer they are to the E rating cut off. Therefore, investing in assets to futureproof them.
How are MEES becoming more stringent?
1st April 2023 increasing to make any letting below E illegal, even if started. Likely to increase to C by 2030.
What are MEES exemptions?
Cost effective improvements (7 years)
Devaluation (+5%)
Listed building
Consent not available from tenant
