sustianbility Flashcards
What is sustainability?
- Meeting the needs of the present
- without compromising the ability of future generations to meet their own needs.
How can people / businesses be more sustainable?
- reduce, reuse, recycle
- Travel smarter - avoid airplans
What does Global Professional Guidance Note Sustainability and Commercial Property Valuation state?
- Valuers must be fully aware of ways sustainability may impact on levels of value they report
What are building regulations?
A set of regulations and standards that all new buildings must be built to: eg fire safety, structure, ventilation
What does The Energy Act 2015 set out?
- Unlawful to let properties with EPC of F or G from April 2018
- Unlawful to continue to let from April 2023
What does EPC stand for?
Energy performance Certificate
What does an EPC show?
- Current rating
- Guidance on how to improve
- What EPC could be if works were carried out and the energy/monitory saving
What properties do not require an EPC?
- Listed buildings
- Buildings with no heating
- Religious buildings
- Temporary buildings
- Buildings due to be demolished/redeveloped
- Residential units not occupied for more than 4 months of the year
What is the fine for not having an EPC?
12.5% of RV
What does The Energy Act set out?
April 2018 - unlawful to let a property with a EPC of F and G
April 2023 - unlawful to continue to a let a property with an EPC of a F and G
What are the proposals for MEES to be implemented?
April 2027 - unlawful to let a property with a EPC of a D and below
April 2030 unlawful to let a property with a EPC of a C and below
What does MEES stand for? and where does it apply?
- Minimum Energy Efficiency Standards
- England and Wales
What are the MEES exceptions?
- less than 6 months or more than 99 years
- all cost effective improvements have been implemented (pay back period 7 years)
- if consent to complete works is not authorised by the tenant
- if it would reduce the value of the property by more than 5%
- improvements are more than £350,000
What is the penalty for not complying with MEES when should be?
- £5,000 - £50,000 (10% of RV) for properties with less than 3 month rental
- £10,000 - £150,000 (20% of RV) for properties with more than 3 month rental
What are the implications of MEES for LLs?
- Some properties will be illegal to let unless they are upgraded
- Valuations will be affected and marketability will be diminished
- may impact rent review valuations
What did Climate Change Act 2008 set? how was this updated in 2019?
- Government commitment to cut UK CO2 emissions by 80% on 1990 leves by 2050
- Net zero real estate industry by 2050
Who do Heat Network Regulations apply to?
any heat supplier:
eg - landlord supplies heating to a building.
If Landlord is heat supplier, what must they do?
- Notify the Office for Product Safety and Standers (OPSS). supply info including:
- Location of communal heating
- estimated capacity
- how many dwellings are being supplied etc
This must be done every 4 years
What does BREEAM stand for? and what is it?
- Building Research Establishment Environmental Assessment Method
- evaluates the ESG principles in a building and provides a rating from pass to outstanding
Why is BREEAM better than EPC/MEES
- BREEAM looks at a buildings performance through data.
- BREEAM evaluates social and governance not just environmental
- correlation between ratings and building value and rent
What are the BREEAM Scores
Outstanding
Excellent
Very Good
Good
Pass
What does BREEAM measure/score on?
- Pollution
- Transport
- waste
- energy
- wellbeing
- innovation
- management
- land use
What are the key global agreements regarding climate change?
- Paris Agreement
- UN Framework Convention on Climate Change
what is CSR
Corporate social responsibility. where companies self regulate to hit social goals
