25 March 2021
1 million commercial properties will need improvement under net-zero strategy
It is thought that 1 million commercial properties will need improvement in a bid to meet the Government’s new carbon targets.
The Government has recently published its Industrial Decarbonisation Strategy which incorporates a second consultation on the Minimum Energy Efficiency Standards for commercial properties. This second consultation sets out a target of an EPC B rating for all commercial properties by 2030 and also provides for a new consultation on performance-based energy ratings in big industrial and commercial buildings.
The British Property Federation believes the introduction of new rules on assessing the energy performance of commercial and industrial buildings is a significant move in the right direction and will be vital in supporting property owners and occupiers to reach net-zero targets.
However, many in the property sector are calling for a longer net zero regulatory road map and said there should be a more clarity around regulations beyond 2030, a view that is supported by the British Property Federation. Alex Green, associate director of the British Property Federation, comments:
“The Government’s commitment to a new stretching Minimum Energy Efficiency Standard up to 2030 will also act as an important signal to industry, but this is still too short-term in its approach for commercial property investors whose investment decisions today are based on forecasts that span the next several decades to come.
“The Government must provide a regulatory roadmap beyond 2030 to support property owners’ investment into our town and city centres.”