Property sector savings achievable with creative use of technology

Integrated technology innovations are unlocking exciting opportunities for the property sector and the Clean Energy Finance Corporation (CEFC) is helping catalyse those opportunities, says its chairman, Jillian Broadbent (AO).

Broadbent addressed the GreenCities 2015 conference in Melbourne last week as part of a panel on creative change in uncertain times. “There are businesses that recognise that periods of change and uncertainty provide the perfect opportunity to make bold decisions, catalyse change and position themselves ahead of those who use uncertainty as an excuse not to act. The CEFC is active in the Australian property sector to help accelerate that change,” she said.

Broadbent said that according to Navigant Research, the global market for technology-rich, energy-efficient building products and services was expected to grow from just over $300 billion in 2014 to just over $620 billion in 2023.

“We’re witnessing an exponential growth in technology and with it creative new ways to drive the transformation of our cities’ operations, their sustainability and their livability.

“This transformation represents exciting opportunities for the property sector to increase productivity in a world where building systems and appliances become integrated and integrated with wholly easy-to-use systems and mobile devices.”

Broadbent said the CEFC had been active in the property sector, providing finance for retrofits designed to help futureproof against rising energy costs and retaining their attractiveness to tenants.

“Accessible finance can be an issue, but the CEFC has worked with NAB, ANZ and Commonwealth Bank to establish loan products that cover the upfront cost of upgrading to improve energy productivity across the sector. We’ve also helped establish programs for access to solar PV generated energy at agreed prices from companies that install, own and operate rooftop solar PV systems on the premises.

“On average, Australia’s commercial buildings stock is nearly 30 years old. Our experience shows that retrofits deliver an average energy use reduction of 40%. Why isn’t everyone upgrading their buildings and property infrastructure?” she asked.

Broadbent said sustainable growth was a global challenge which required local solutions, but that Australia was well placed to take advantage of technology advances and remain ahead of the pack.

Jointly hosted by The Green Building Council of Australia and the Property Council of Australia, GreenCities 2015 featured over 70 speakers. Broadbent was joined by 2014 G20 Youth Summit Chair Holly Ransom on the panel, which was moderated by ClimateWorks Australia Executive Director Anna Skarbek.