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
Are you aware of any research completed by the RICS on Sustainability.
- RICS carbon database
- world environment forum
- Professional statement of the whole life carbon assessment.
- RICS sustainability report 2023
Please explain your understanding of the Birchard Review
- December 2021 after Levitt review
- Independent review commissioned by RICS Governing Board
- 36 recommendations
1. Younger members should have a tronger voice
2. Diversity and Inclusion panel
3. Improvement of technology
What is an SKA rating?
environmental assessment and benchmarking of fit outs.
What is the climate change Levey
tax on energy to corporate users
- incentive to business to use less energy
Building regs on sustainability
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