Sustainability Flashcards
What requires an EPC?
Required by all commercial properties over 50sqm and by all leases that have more than 6 months term and less than 99 years.
All new commercial leases require one. And for subletting or assignment.
What are the MEES?
Min rating of an E required to let a building from April 1st 2018.
This is for new leases, existing leases from 2023.
Derived from the Energy Efficiency (Private Rented Property) Regulations 2015
What are the proposed MEES changes?
Rise from and E to a C by 2027 and to B by 2030.
These need to be registered by April 2025 and improved to a C by 2027.
Sunak has potentially scrapped these targets.
What has driven sustainability targets?
Climate change act 2008 / amended 2019, 2015 Paris agreement, UN SDGS 2015.
-Net Zero by 2050 and 68% reduction by 2030 of 1990 levels and a target of 77% for 2035.
EPC’s and MEE’S tools to aid in this.
UK Green Building Council set framework to reduce emissions across Property lifecycle.
What are some exeptions to EPC requirements?
-Listed buildings
-buildings less than 50sqm
-religious buildings
-temporary buildings
What is the penalty for non-compliance with EPC regs?
12.5% of RV.
Min of £500 and Max of £5,000
What are the exceptions to MEEs?
-Buildings that do not need an EPC
-no feasible way to improve to an E rating
-where leases are for less than 6 months with no security of tenure
-where leases are over 99 yrs.
-Improvements would devalue the property by 5% or more
Penalty for not abiding by MEES
Breach up to 3 months = £5k or 10% of RV
Over 3 months = £10k or 20% of RV
What is ESG?
A framework used to assess organisations business practices and performance on various sustainability, social, economic and ethical issues.
What other regs are there?
Climate Change Levy
- Tax on energy delivered to non-domestic users in the UK. Incentive to increase energy efficiency within businesses as renewables are exempt.
Energy Savings Opportunity Scheme (ESOS)
Why were EPC’s Introduced?
Introicduced on 2007, madatory in 2008 and used tool to help achieve net zero laid out in 2008 Climate Change Act .
EPC’s aim for:
1. Higher standards of energy conservation for buildings
2. Establish calculation method for energy consumption
3. Establish min requirements
4. Energy certifications for when buildings are brought or sold.
5. Mandatory inspections for boilers and air con units.
Sustainability: What is the regulations around EPC’s?
Required by all commercial properties over 50sqm and by all leases that have more than 6moths term and less than 99 years.
All new commercial leases require one. And for subletting or assignment.
Sustainability: What are the current and proposed MEES standards?
Min rating of an E required to let or sell a building from April 1st 2018.
This is for new leases, existing leases from 2023.
Rise from and E to a C by 2027 and to B by 2030.
These need to be registered by April 2025 and improved to a C by 2027.
Sunak has potentially scrapped these targets.
Sustainability: What is ESG and how is it affecting your day job?
A framework used to assess organisations business practices and performance on various sustainability, social, economic and ethical issues.
Supported by UN Sustainable Development Goals and Paris Agreement 2015.
VPS 3 also states “…the relevance and significance of sustainability and environmental matters should form an integral part of the valuation approach and reasoning supporting the reported figure.”
I understand that there is an issue with poor EPC ratings on older Spec and the negative affect this has on purchasers due to the costs of bringing the property in line with legislation.
It is commented on within valuations and can have and effect on the valuation of sites.
Agency requirements
Sus: What Info is contained within an EPC?
Score of Energy efficiency
Recommendations on how to improve the rating (double glazing, LED lighting, Insulate walls/ceilings)
How costly it will be to light and heat the property
Date and valid until date
