Latest Amendment of Building Energy Efficiency Disclosure Act 2010

Building Energy Efficiency Disclosure Act 2010

Law passed

Last amendment

The Building Energy Efficiency Disclosure Act requires energy efficiency information in the form of a Building Energy Efficiency Certificate, to be provided when commercial office over a certain metrage is offered for sale or lease. The most recent Commercial Buildings Disclosure Programme, updated over June-September 2016, lowered the mandatory disclosure threshold on commercial office buildings from 2,000 to 1,000 square meters. This should see an additional 1,000 commercial buildings now disclose their energy efficiency when they sell or lease their property and aims to deliver more than $50 million in energy savings, and approximately 3.5 million tonnes of emission reductions over five years. Disclosure changes will commence 1 July 2017. In relation to lowering the threshold, the frequency of required tenancy lighting assessment was lowered, to every five years instead of each year. This provision entered into effect as of September 1st 2016. Heavy financial penalties apply for non-compliance. The aim of the Building Energy Efficiency Disclosure Act is to improve the energy efficiency of Australia's large office buildings by helping to provide buyers and tenants with credible, comparable energy efficiency information to take into account in their market decisions. An update in effect since 1 July 2015 reduces the regulatory burden on building owners and landlords and waives the requirement to provide a certificate under certain circumstances.

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An aim to achieve a quantifiable outcome within a given time-frame, set by an institution such as a national government.

Policy instruments are techniques or tools used by governing authorities to promote certain policies in order to achieve predetermined goals. Put simply, instruments are how a government tries to achieve its goals, with this taxonomy being focused on national policy instruments.

Risk is the potential for adverse consequences resulting from the dynamic interplay between (climate-related) hazards, exposure, and vulnerability of affected human or ecological systems.

Groups  of people who are adversely affected by climate change or the response to it

A set of principles, processes, and practices that build economic and political power to shift from an extractive economy to a regenerative economy.

Renewable energy means all forms of energy produced from renewable sources in a sustainable manner.

Fossil fuel is a generic term for non-renewable energy sources such as coal, fossil gas, and oil (including crude oil, and petroleum products), that can be used for electricity and heat generation. Fossil fuels are hydrocarbons formed from pressurised and heated organic material buried over millions of years.

Molecules in the atmosphere that play a key role in the greenhouse effect by trapping heat radiating from Earth’s surface.

Area of the economy in which actors engage in identical or related activities.

In human systems, the process of adjustment to actual or expected climate change and its effects, in order to moderate harm, increase resilience or exploit beneficial opportunities. In natural systems, the process of adjustment to actual climate change and its effects; human intervention may facilitate adjustment to expected climate change and its effects.

The management and allocation of funds, assets and investments to meet various objectives