- Scott Morrison officially committed to net zero by 2050 on Tuesday
- PCA declared the property industry pivotal as NSW takes strides towards net zero
- They say cutting emissions can be a boost for the economy
Two days ago, Prime Minister Scott Morrison announced a commitment to net zero emissions by 2050, now the property industry has been declared pivotal as NSW decarbonises its economy.
Property Council of Australia’s NSW Director Luke Achterstraat believes that buildings can provide some of the lowest cost abatement opportunities in the economy.
Buildings should be a particular focus of the actions taken towards net zero as buildings accounted for over 50% of electricity use in Australia and almost a quarter of its emissions.
“Since efficient buildings are healthier and more productive, gains in staff productivity are likely to dwarf the benefits in energy savings.”
Luke Achterstraat, Property Council NSW Director
“Accelerating Australia’s transition to sustainable housing could both protect the home building sector, as well as spur growth in delivering more than half a billion dollars of additional investment in the construction industry by 2030 and create over 7,000 new jobs,” Mr Achterstraat said.
“It would also save Australians $600 million on their energy bills.
“Upgrading the energy efficiency of Australia’s commercial buildings would not only stimulate economic activity through inputs of local labour, it would also deliver an estimated $12 billion in energy savings between 2016 and 2030.
The PCA is encouraging the NSW Government to take advantage of the opportunities on offer from building to reduce carbon emissions.
They have also called for more certainty for the industry through a clearer pathway of policies.
“With the right policy frameworks in place, we can minimise the costs of a transition to net zero emissions and create economic opportunities across all parts of industry, from sole traders and homeowners to large businesses.
“As the nation’s biggest industry that employs 1.4 million Australians, a strong property industry will be central to the nation’s economic recovery. Indeed, the built environment industry – from commercial landlords to developers and builders – has been critical to Australia’s resilience through the crisis to date.”
