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House of Assembly - Fifty-Second Parliament, Second Session (52-2)
2012-09-05 Daily Xml
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SUSTAINABLE BUILDING

Ms THOMPSON (Reynell) (14:51): My question is the Minister for Sustainability, Environment and Conservation. Minister, what measures are being considered by the government in order to facilitate green building development in South Australia?

The Hon. P. CAICA (Colton—Minister for Sustainability, Environment and Conservation, Minister for Water and the River Murray, Minister for Aboriginal Affairs and Reconciliation) (14:52): I thank the honourable and outstanding member for Reynell for her question. Over one-fifth of South Australia's greenhouse gas emissions result from the building sector. Following on from previous programs aimed at reducing the carbon footprint of our built environment, the government is considering new initiatives that will benefit business and the environment.

In April, the Premier's Climate Change Council provided advice about environmental upgrade finance, recommending the establishment of an innovative green building finance mechanism in South Australia. Members may have noticed my tabling of the advice and response a short time ago, and I am pleased to indicate that the government welcomes this idea and will be taking further steps in considering its implementation.

Environmental upgrade finance allows a loan to be tied to a property, rather than a property owner, to finance a building upgrade project that results in reduced energy and water costs. It also allows loan repayments to be collected via a statutory charge that is levied on the property and passed on to the financier. In the event of transferring ownership of the property, the loan remains with the property and the obligation to make the repayment transfers to the new owner, along with the benefit of reduced utility costs.

In June I released a consultation paper seeking the views of the finance, property and local government sectors regarding this potential mechanism. The feedback was positive and a number of valuable insights and suggestions were offered about alternatives for making such a scheme work well. An investigation into the location and potential scale of the commercial building retrofitting opportunities was also completed.

This study was undertaken by Arup Pty Ltd, an independent firm of planners, engineers and technical specialists. The investigation found that the retrofitting potential of commercial office buildings in the CBD and fringe areas could unlock between $70 million and $666 million of capital investment in environmental upgrades. Between 310 and 2,685 direct jobs could also result from this work whilst also achieving between 6 per cent and 32 per cent in greenhouse gas savings. This study can be accessed at www.sa.gov.au/climatechange.

An honourable member interjecting:

The Hon. P. CAICA: Very good on the computers, but I myself would eventually find it after a while and a bit of trying. Further investigations will be undertaken in consultation with key stakeholders with a view to developing a business model and business case for establishing environmental upgrade finance for commercial buildings in South Australia. I look forward to progressing this very important project with the support of our opposition.

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