The BPF demands more action from the UK government towards Net Zero
The British Property Federation (BPF), in partnership with JLL, has released a report today that identifies the key challenges the property sector faces as it decarbonises and provides a series of policy recommendations.
Access to data is a major challenge the research identifies, with property owners and occupiers referencing it as one of the top three challenges to decarbonising. A lack of quality data makes it difficult to calculate accurate operational carbon and set realistic carbon reduction targets.
Policy and regulatory uncertainty and a lack of financial incentives to support the retrofitting of buildings are hindering progress. Transitioning to net zero comes at a considerable cost. Many property owners lack the confidence to invest in significant energy efficiency upgrades without robust evidence of a return on investment.
The report reveals that 9 in 10 senior leaders surveyed by the BPF and JLL do not believe current Government policy will deliver a net zero property sector by 2050.
To ensure the property sector can meet net zero targets, the BPF has set out several essential policies. These include:
1. Mandate the sharing of energy consumption data between property owners and occupiers of large commercial buildings, and set up a Task Force to explore the particular data challenges faced by owners of residential buildings
2. Confirm the detail of the planned changes to the MEES regulations for both the domestic and non-domestic private rented sectors and the details of the proposed new performance-based energy rating system urgently
3. Zero rate VAT on residential repairs and maintenance and reform capital allowances to incentivise investment to decarbonise
4. Move towards the mandatory installation of PV and/or green roofs on large residential, commercial and public buildings
5. Strengthen the criteria for a green tariff label
6. Allow Real Estate Investment Trusts (REITs) to invest in off-site renewables
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