Sustainability

Question 1

EPC marketing requirements

Answer 1

• commission before marketing, obtain within 7 days of listing
• the listing only requires the actual rating, the other info isn’t mandatory
• online marketing to have link to EPC front page
• only valid for 10 years

Question 2

Penalty for not having EPC when marketing

Answer 2

Resi = £200 fixed fine

Enforced by local authorities trading standards team

(Commercial - 12.5% of rateable value)

Question 3

EPC non compliance penalty - leading below an E

Answer 3

Up to local authority, but max:

Longer than 3 month breach = £4000

Shorter than 3 month breach = £2000

False info for exemption = £1000

Max fine for a single property is £5000

Question 4

BNG min gain requirement

Answer 4

+10%

Question 5

What is RICS SKA Rating Scheme

Answer 5

Gold, silver or bronze award for fit out sustainability

Question 6

What year was the Climate Change Levy introduced and what does it do

Answer 6

2019

Tax on non renewably sourced energy use

Question 7

What is the Energy Saving Opportunity Scheme

Answer 7

Companies with more than 250 employees must report energy consumption and identify reduction opportunities

Question 8

Original Sustainable Development source and definition

Answer 8

Brundtland Report 1987 - “meeting the needs of the present without compromising the ability of future generations to meet their own needs”

Question 9

Where is sustainability covered in Red Book and what does it say

Answer 9

VPGA8 Valuation of Real Property Interests

Important to be led by market rather than lead the market

Understand the occupier/investors preference to sustainability

Use market evidence

Question 10

Cost cap for EPC improvements and how long is this exemption valid of

Answer 10

£3,500

Valid for 5 years

Question 11

Property value decrease for EPC exemption and how long lasts for

Answer 11

5%

5 years

Question 12

GPLC sustainability initiatives

Answer 12

Net Zero Carbon Operation by 2030

Min EPCs C by 2030

Replace gas boilers with electric

D&I of workforce to reflect tenant base

Question 13

RICS Whole Life Carbon Assessment effective date and key points

Answer 13

Effective July 2024

To provide an industry standard to measure carbon

To encourage reuse, recycling and redevelopment

Covers embodied, operational and user carbon

Question 14

Latest RICS publication on sustainability

Answer 14

RICS Whole Life Carbon Assessment for the Built Environment

Info to surveyors on the importance of WLCA

Key stages:
A - embodied/constuction
B - operation/user carbon
C - end of life - deconstruction/ demolition
D - recycling of materials

Earlier in project the better carbon can be impacted

Importance of retrofit and refurb

Need global standards