News & Events

The Building Efficiency Disclosure Bill 2010 was passed into law as of July 1, 2010.  The immediate impact of the bill will affect properties greater than 2000m².  In the longer term, provisions will be phased in over the next 12 months as the annexure provisions are brought into effect.  These annexure will affect smaller commercial properties and larger private properties.  Current information from the Department of Climate Change and Energy Efficiency state that the first rollouts will occur from November 1, 2010.  However, getting ahead of the legislation changes is potentially highly profitable, and it is advisable to conduct an energy / eco sustainability audit.  Reasons to obtain an energy audit include:

 1. Knowing where your money is going and identify savings

1. Energy audits have helped businesses to understand their consumption, reduce their costs by between 25% - 40%, and reduce their carbon footprint.

1. 2. Mandatory Disclosure Laws are here
2. The Building Energy Efficiency Disclosure Bill 2010 has been passed.

1. 3. Disclosure is to be included with the sale or lease of property
2. The immediate impact of the Building Energy Efficiency Disclosure bill will impact commercial properties of 2000m² or greater, and requires that disclosure be made in the advertisement.  There are provisions fro phasing in similar requirements for smaller businesses.

1. 4. Review of electricity tariff
2. By qualifying for bulk tariffs, businesses can save a minimum of 20% on the standard tariff which most businesses are on.  It is advisable to inquire to see if you qualify.

1. 5. Retain your tenants
2. Energy efficient buildings attract tenants.  This is increasing true as poor energy efficiency attracts higher costs for tenants through higher charges and potential fines.

1. 6. Avoid fines and criminal records
2. Under the new legislation, fines of $110,000 per offence of non-disclosure are applicable to building owners.  It will also be a criminal offence to provide false or misleading information.

1. 7. Avoid negative publicity associated with false or nondisclosure
2. Offences relating to false or nondisclosure with be published to a website.  Having your business or property listed on this nondisclosure website will reduce your appeal to prospective tenants or buyers.

1. 8. Avoid losing the contract for sale or lease
2. Tenants and purchasers now have the power to withhold the balance of monies owing, or in some cases, void a contract if there has been false or nondisclosure.

1. 9. Be seen as a Socially Responsible Company
2. Auditing your carbon output with a view to becoming carbon neutral will increase your company's appeal in the marketplace more generally.  Consumers and clients are increasingly aware of climate change issues through the media and the internet.  Social discussion of companies and their interactions and environmental actions will lead to further growth if the association is positive, but it potentially damaging if the association is negative.  Being proactive about reducing your carbon emissions and environmental impact is defiantly beneficial for business.

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