Jillian Broadbent at Green Cities 2015

The global market for technology rich energy efficient building products and services was worth over $300 billion in 2014, and is expected to boom to over $620 billion in 2023, according to the Clean Energy Finance Corporation’s chair Jillian Broadbent.

Ms Broadbent spoke today (Wednesday) at the Green Cities conference in Melbourne on a panel exploring how to progress creative change in uncertain times – a day-to-day task for a financing body the federal government periodically tries to abolish.

Ms Broadbent told the Green Cities audience there was uncertainty and discontinuity in federal environmental policy.

“In response to that financiers are either reallocating resources or retreating from certainly the renewable energy financing sector. Against that background there is, however, a growing commitment to progressing the agenda both at the state and local government level, and the industry level as well.”

In a media statement following the speech Ms Broadbent said: “There are businesses that recognise that periods of change and uncertainty provide the perfect opportunity to make bold decisions, catalyse change and position themselves ahead of those who use uncertainty as an excuse not to act. The CEFC is active in the Australian property sector to help accelerate that change.

“We’re witnessing an exponential growth in technology and with it creative new ways to drive the transformation of our cities’ operations, their sustainability and their liveability.

“This transformation represents exciting opportunities for the property sector to increase productivity in a world where building systems and appliances become integrated and integrated with wholly easy-to-use systems and mobile devices.”

Ms Broadbent said the CEFC had been active in the property sector, providing finance for retrofits to help future-proof against rising energy costs and to improve their attractiveness to tenants, and urged the use of CEFC financing services.

“On average, Australia’s commercial buildings stock is nearly 30 years old,” she said. “Our experience shows that retrofits deliver an average energy use reduction of 40 per cent.”