Sustainability Flashcards
What is the Energy Act 2023?
The Act is UK legislation aimed at enhancing energy security, promote the transition to net zero emissions and modernise the energy sector
The acts aim is for the security and independence of energy supply.
Legal requirement to have EPC.
What are the key provisions of the Energy Act 2023
Carbon capture
Hydrogen production
nuclear energy
energy system governance
How does the energy act 2023 relate to commercial property?
1 - Energy efficiency standards
2 - Decarbonising and low carbon tech (adapt buildings EV charging)
3 - Renewable energy integration and grants
4 - Energy Management and Reporting
What is MEES?
Minimum energy efficiency standard’s
Current Minimum Standard is E
Government projecting min C by 2030
What are the minimum energy efficiency standards exemptions?
Place of worship
Temporary buildings
Stand alone (less than 50m2)
Industrial site that don’t use much energy
Holiday acommodation used less than four months of the year
Unsafe properties
Properties to be demolished
What is the penalty for non compliance of MEES?
£5,000 for non compliance of a single property.
up to £150k if the breach continues.
What are the sustainability principals in the national planning policy framework (NPPF)?
1 - Environmental Sustainability
2 - Social Sustainability
3 - Economic Sustainability
4 - Sustainable design
5 - Planning for Climate Change
When are floor risk assessment required?
Red Book Valuations
Development Appraisals
Secured Lending
As a matter of company policy we carry this out as a standard procedure on all of valuations.
What does ESG stand for?
Environment, Social, Governance
How does ESG relate to Sustainability
Environmental = Energy efficiency, carbon emissions etc.
Social = Sustainable communities , diversity, inclusion, local communities.
Governance = Ethical decision making, transparency and regulatory compliance.
What is enclosed within the RICS Professional Standard Sustainability and ESG
in commercial property valuation and strategic advice?
A professional standard providing a practical framework for delivering on sustainability and ESG investigation and reporting requirements in professional valuation advice.
Contents:
Role of the valuer
Valuation Purpose
Terms of Engagement
Inspection
Basis of Value
Reporting
Comparable Evidence
Valuation methods and consideration
Sustainability Characterises
What is The Paris Agreement ?
A legally binding international treaty on climate change, signed by 196 parties which came into effect in 2016. Countries party to this agreement have to implement this legislative changes, and therefore compliance increasingly important at an asset level.
What RICS publications are there that relate to Sustainability and ESG?
RICS professional standard, Global - Sustainability and ESG in commercial property valuation and strategic advice 3rd edition, December 2021Effective from 31 January 2022
What is BREEAM?
Building Research Establishment Environmental Assessment Method
What is BREEAM used for?
BREEAM is sustainability assessment method form buildings.
Used to assess categories such as energy, water, materials, waste, health and biodiversity.
How is BREEAM used for risk mitigation and benchmarking?
Risk mitigation:
By assessing and improving environmental performance, identifies risk and non compliance. It also help to reduce operation risk and costs over time.
Benchmarking:
Comparative sustainability performance.
Market Value, what effects BREEAM rating has.
What section of the National Planning Policy Framework (NNPF) relates to achieving sustainable development?
Section 2 (7-14)
What makes a property more efficient?
Double Glazing
LED lighting
energy efficiency
What is sustainability?
Sustainability is the practice of meeting present needs without compromising future generations.
It involves balancing environmental social and economical considerations
What was the most recent COP?
COP29
What is the Green Deal?
The Green Deal aims to help you make energy saving improvements to your home.
What is a green lease?
A green lease is a series of additional provisions within a contact which puts obligations on both landlord and tenant to manage and reduce the environmental impact.
What was agreed at COP26?
Reduce use of coal
pledge to help developing nations
Trillion dollar a year fund from 2025
How does COP26 relate to the Paris Agreement?
The Paris agreement for former in COP21
Agreed to prevent temperatures rising more than 1.5c above pre industrial levels
