Sustainability - Level 1 (Ready) Flashcards
What guidance has RICS issued on sustainability?
- RICS Guidance note on Sustainability and Commercial Property Valuation 2015
- RICS information Paper on Sustainability and Residential property valuation
What are the Minimum Energy Efficiency Standards (2015)
- Introduced in April 2018
- Make it a legal requirement for all privately owned properties to have EPC rating of at least “E” before sold or let
- Legislation applies to both domestic and commercial
- Failure to comply subject to up to £5,000 fine for domestic / £150,000 for non-domestic
What are the key principles of the Energy Act 2011
- Tackling barriers to investment in energy efficiency
- Enhancing energy security
- Enabling investment in low carbon energy supplies
What is an EPC rating?
- EPC measures energy efficiency for a property on a scale of A-G
What is the importance of an EPC rating?
- They show how energy efficient a property is
- Can be a deal breaker as if property has low rating then prospective buyer will know energy bills will be high
How can sustainability impact on value?
- Can lead to higher demand / shorter voids
- Lower operational costs
- Higher capital cost intiially
- Occupiers willing to pay higher rents
Can you tell me what WiredScore is?
- A certification that rates the connectivity of new buildings
- Rates companies on basis of certified, silver, gold or platinum
What is real estates role in achieving a more sustainable environment?
- Important to track the environmental performance of the places in which we work and live
- Sector consumes over 40% of global energy annually
- Buildings have a significant and growing impact on environmental aspects
When is an EPC required?
- For commercial buildings over 50sqm
- When newly built, sold or let for a term of more than 6 months and less than 99 years
How long is an EPC valid for?
10 years (unless refurbished)
What is included on an EPC certificate?
- Address
- Dwelling type
- Reference number
- Total floor area
- Date of certificate
- Estimated energy costs
- Energy efficiency rating
What is BREEAM
The Building Research Establishment Environmental Assessment Method
- Voluntary environmental assessment tool to rate new and refurbished commercial and residential buildings
What are the ratings of BREEAM
- Pass
- Good
- Very Good
- Outstanding
- Excellent
What does the Climate Change Act 2008 aim to achieve?
- Initially, 80% reduction on 1990 carbon dioxide emissions by 2050.
- Amended in 2019 to be carbon net-zero by 2050
What is a “green lease” clause?
- Typically seek to ensure landlords and tenants share information about use of utilities.
What is the Ska rating?
- RICS environmental assessment method for non-domestic fit outs
How can developers achieve more efficient construction?
- Use of renewable materials such as solar, wind, biomass and heat pumps
- The building aspect, using natural daylight to take advantage of solar gain
- Effective energy management and monitoring systems
What are the exemptions from MEES?
- If building does not need an EPC
- Place of worship
- If building does not have heating
- Tenancy less than 6 months
- Tenancy more than 99 years
- All cost-effective energy efficiency improvements within a 7 year rule have been carried out
What have a number of leading UK property REITS done to commit to achieving net zero carbon by 2050?
- Formed BBP (Better Buildings Partnership)
- Published various toolkits providing guidance to owners on how to improve energy efficiency
What is sustainability?
Meeting the needs of the present without compromising the ability of future generations to meet their needs
