Sustainability Flashcards
What are the 3 pillars of sustainability?
Social – e.g. quality of life, community engagement
Environmental – energy, pollution, emissions, plastics, carbon footprint
Economic – risk management, economic health, making a profit
How does CBRE incorporate these?
Social – Workwell initiatives
Environmental – Reduce printing, reusable cups
Economic – Compliance department, conflicts of interest management, training
What is the Brundtland report?
Published in 1987 by the UN. Defined the principles of sustainable development.
What is its definition of sustainability?
Meeting the needs of today without prejudicing the ability of future generations to meet their own needs.
What is the important role sustainability plays in real estate?
As surveyors, we are uniquely placed to steer the built environment towards more sustainable practices.
Important to make buildings more sustainable to help meet carbon emission targets (cut by 100% - increased target in 2019 - under 2008 Climate Change Act), to reduce the costs involved in running a building, and to meet social/cultural demand for more sustainable building.
How do you make clients aware of this?
Clients becoming more aware but try to raise awareness in our advice.
How does RICS help to encourage sustainability in practice?
Research, best practice statements and training.
Best practice statement: Guidance Note, Sustainability and Commercial Property Valuation 2013.
What are some ways you can make a building more sustainable?
Existing buildings; key upgrades including replacing old services with more energy efficient installations such as heating
New; effective insulation, use of natural light, use green and sustainable building materials
What are the MEES and who do they apply to?
Make it unlawful to let a building unless it has a minimum EPC rating of E.
Applies to all landlords. For commercial applies to leases between 6 months and 99 years.
What legislation is MEES under?
The Energy Efficiency (Private Rented Property) (England and Wales) Regulations 2015, in accordance with the Energy Act 2011
When did the MEES take effect and what requirements are already adopted?
Effective for all NEW leases (commercial and resi) from 1 April 2018. This includes lease renewals and extensions.
Existing leases effective 1 April 2020 (Residential) and 1 April 2023 (Commercial)
What are the exemptions from MEES?
If a building is exempt from having an EPC.
If the tenancy is for less than 6 months, or longer than 99 years.
If it’s not feasible to improve the EPC rating to the min. level.
When a devaluation case of more than 5% can be proven.
Exemptions MUST be pre-registered on the local authority’s PRS Exemptions Register and renewed 5-yearly.
What are the implications of MEES? How has it affected your area of practice?
Does affect all leases, renewals and sub-letting.
Doesn’t affect sale of buildings or assignment of lease.
What are the penalties for non-compliance with MEES? Who polices it?
Breach less than 3 months - 10% Rateable Value, min. £5,000 up to £50,000
Breach more than 3 months – 20% Rateable Value, min. £10,000 to £150,000
Local authority police.
When are Energy Performance Certificates required?
Needed whenever a property is built, refurbished (when heating/air con/ ventilation is altered), sold or rented (on leases between 6 months and 99 years, for sub-letting and assignment).
Required for all commercial buildings over 50 sqm.