Labor's Climate Change Action Plan

The Property Council has welcomed the commitment of the Federal Opposition’s Climate Change Action Plan to transition Australia to a ‘net zero’ emissions economy by 2050 – but urged it to seize solutions on offer from the built environment.

“Australia’s property industry is a world leader in emissions reduction and we have no fear about playing our part in future emission reductions,” said Ken Morrison, Chief Executive of the Property Council.

“International benchmark ranking organisation GRESB has ranked Australia’s property leaders as number one in the world when it comes to environmental sustainability.

“We are a world leader in the field – because our industry sees both the environmental and commercial potential of being more energy efficient.

“The built environment contributes 23 per cent of Australia’s emissions, so we are a vital partner is helping Australia achieve its carbon targets.

“The current Emissions Reduction Fund provides little incentive or opportunity for property to participate, despite the large gains we could bring to the table.

“This industry offers many of the least cost emissions abatement opportunities available and it is vitally important that property be included in the measures announced today by the Opposition – doubling energy productivity, the Strategic Industries Task Force, and reforms to the energy market to ensure barriers are removed to large scale roll-out of onsite renewable energy and distributed energy.

“We believe that energy efficiency improvements and fuel switching can reduce the projected 2050 emissions from buildings by more than half.  Added to that, there’s significant opportunity for distributed solar photovoltaics to eliminate the remaining emissions – resulting in net zero emissions from the industry by 2050.

“The property industry welcomes today’s policy announcement by the Opposition. We believe a move towards an ETS is more appropriate for an industry likes ours than a carbon tax. The Property Council is willing to be part of any industry consultations that will help deliver the reductions that we need."