The NSW Government wants the global expansion of the NABERS building rating tool to continue, and has endorsed the International Property Measurement Standard as a way to help achieve it.
The International Property Measurement Standard has been developed as a way to ensure that property assets globally are being measured consistently, allowing for greater market transparency and improved investor confidence.
At a breakfast event to launch the post-COP21 environmentally sustainable real estate investment framework, Liberal Senator Shayne Mallard, standing in for environment minister Mark Speakman, said the IPMS addressed a major barrier in creating an international benchmark for building sustainability performance.
He said the NSW Government had a “strong interest” in the expansion of NABERS globally, “and that’s why we’re actively exploring the IPMS standard, and will be working with our partners in NABERS to consider it”.
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The Royal Institution of Chartered Surveyors, a member of the International Property Measurement Standards Coalition pushing for the global adoption of the standard, said the government’s interest was a win for building sustainability.
“If you cannot measure something, how can you effectively manage it?” RICS Oceania director Peter Nolan said.
“The IPMS will be a major step forward in consistently measuring space so that we can then accurately and consistently measure energy efficiency and, consequently, the impact of the built environment on climate change.
“The increased urbanisation of the world’s population hastens the need to adopt standards in the way floor space is measured so that we can measure, and manage, the energy efficiency of the space. This is critical for investors, occupiers and developers alike. We thank the NSW Government for their recognition of the need for such a standard.”
The endorsement came at the same time as an Australian Sustainable Built Environment Council report into the economic potential of low-carbon buildings, finding that green rating schemes such as NABERS had reduced built environment emissions in Australia by 180 megatonnes.