BRIEF – 15 October, 2009 – The Australian Property Institute and the Australian Direct Property Investment Association will team up to help their members become more sustainable as the environmental pressures grow. And its first initiative, the partnership will hold a conference, Profitable Sustainability in Property (PSiP) conference in Sydney on 10 November this year.
API’s National Sustainability Committee Chair, Richard Bowman said a partnership alliance would develop strategies that meet growing demand for sustainable practices, without sacrificing profitability.
“The API has closely followed the growing community concern over the perceived deterioration of the natural environment, and more recently, the debate on how to achieve a less carbon intensive human footprint,” Mr Bowman said in a media release today.
“It appears increasingly likely that there will be mandatory carbon offsets as a condition of development consent at the Commonwealth Government level.”
“We recognise that an increasing focus on property and infrastructure development in a carbon adapted future means that sustainable design and development must also be understood by our members.:
But he added: “It is important that any regulatory action taken in relation to achieving sustainable outcomes also allows for the financial viability of projects.”
ADPIA Vice President Adam Murchie said the industry needed to engage its members and the Government on sustainability issues, and to recognise that that there was “a very strong positive correlation between sustainability and investment performance.”
“Through the conference, we aim to investigate this in much greater depth and ultimately, set some direction for our members so they can maximise portfolio performance,” he said.
“We also see that we need to broaden the context of sustainability to not just the environmental aspects and carbon, but also the social, financial and corporate governance elements that have so fundamentally played themselves out during the financial crisis. “
The conference will include a world first presentation of the extended and updated study Doing Well by Doing Good: Green Office Buildings, which found that green building practices led to increases in a property’s market value and rent.
Also presenting will be Guy Perry, President and Founder of IN-VI, a French American architect and urban planner with development and design experience on five continents. Through case studies in Europe, the Americas, Africa and the Middle East, the presentation will examine and describe different methods of integrating sustainable development practices while
The Fifth Estate will be media supporter for the conference on Tuesday 10 November.