Energy and Greenhouse Emissions 4.5 Star Portfolio
Investa now owns and manages 16 properties rated at 4.5 stars or higher (4 are rated at 5 stars). These properties constitute Australia's first substantial 4.5+ star rated portfolio and meet the requirements and demands of government and institutional tenants for more energy efficient and less greenhouse-intensive office space. CO2 emissions for a 4.5 star building in NSW are generally less than 87 kg.CO2/m2/yr.
During this period we developed a strategy to increase all properties to 4.5 stars over a period of time (see diagram below). A plan will be developed and implemented for each property to direct operational and capital expenditure to deliver the most cost-effective greenhouse reduction benefit. All emission-impacting business cases will be assessed against these strategic plans.
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Click image to enlarge
Investa Greenhouse Guarantee
The Investa Greenhouse Guarantee, launched in 2005, enables our tenants to reduce their energy consumption through the installation of energy efficiency products. The agreement can be included with a standard lease and provides the tenant with:
- a guaranteed cap on the tenancy greenhouse emissions;
- a guaranteed cap on tenancy energy bills; and
- a guaranteed tenancy ABGR rating.
The use of the Greenhouse Guarantee will reduce a tenant's total cost of occupancy. Moving from a 0 star rated tenancy to a 5 star rated tenancy, for example, can reduce energy bills from $21/m2 to $8/m2 annually.
As at 30 June 2007, Greenhouse Guarantees covering over 51,000 m2 were in place across Investa's portfolio, providing combined annual savings of $215,000 to tenants and abating approximately 2,180 tonnes of CO2 emissions pa.
Collaboration with Government
During the period, the NSW Government approved a grant of $500k from its Energy Savings Fund and the Sustainable Melbourne Fund made a loan facility available to assist with the implementation of energy efficiency initiatives in our buildings, in particular Investa Greenhouse Guarantees. While Investa has the opportunity to draw down on the funding in certain circumstances, our principal objective in negotiating the funding facilities was to support our tenants in their drive to improve the environmental performance of tenancies, such as lighting upgrades and other demand management measures.
Commitments for Financial Year 2008
- Achieve a weighted average electricity use intensity of 100kWh/m2 by March 2010.
- Achieve a weighted average ABGR rating of 4.5 stars by March 2010.
- Achieve a weighted average CO2 emission intensity of 120kg.CO2/m2 by March 2010.
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