26 July 2012 ­ – Melbourne Lord Mayor Robert Doyle said recent amendments to the Environmental Agreement to enable property trusts to utilise the agreements would  ensure “as many buildings as possible” had the chance to take up the opportunity to retrofit their buildings and reap the environmental and financial benefits.

While property trusts account for only 10 per cent of commercial building owners within the City of Melbourne, they hold 42 per cent of the city’s total lettable space, Mr Doyle said.

EUAs enable lending for environmental initiatives on buildings to be sourced at  at competitive rates, for up to 10 years, with loans , repaid through a council charge that stays with the retrofitted building.

Scott Bocskay, chief executive Sustainable Melbourne Fund, which administers EUAs on behalf of the City of Melbourne, said all commercial building owners in the City of Melbourne could now take advantage of a world-leading financial mechanism.