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Environmental upgrade agreements demonstrate NSW Government leadership

The release of the Environmental Upgrade Agreement Template for commercial and industrial properties is a clear demonstration of the O’Farrell Government’s commitment to green leadership, says the nation’s leading green building organisation.

“When the O’Farrell Government was elected in April, the Green Building Council of Australia called for a renewed focus on the environmental performance of existing buildings in the state, and an evaluation of the buildings owned and occupied by the NSW Government itself. 

“This new initiative demonstrates that the O’Farrell Government was listening to our call, and is a clear indicator of its commitment to environmental leadership,” says Romilly Madew, Chief Executive of the Green Building Council of Australia (GBCA).

Environmental upgrade agreements provide a mechanism to secure low-risk finance for energy and water upgrades, which is attached to the land, not the building owner. The finance is repaid through council charges over time, and the costs recovered by the long-term savings on bills.

NSW Environment Minister Robyn Parker has said that the new scheme has the potential to unlock $2 billion worth of investment in environmental retrofits in existing NSW buildings.

“Visionary government leadership and existing building performance were two of the five green building priorities for NSW which the GBCA outlined before the state election.  The NSW Government is showing a commitment to both with this announcement, and we applaud this commitment.

“This new scheme provides the benchmarking and accountability for existing buildings that is needed right across Australia, and we look forward to seeing other state governments take up similar initiatives,” Ms Madew concludes.