CommBank's Green Tool for Sustainable Buildings
Commonwealth Bank of Australia
In a groundbreaking collaboration, Commonwealth Bank and CFP Green Buildings have joined forces to revolutionise the commercial property sector's approach to environmental sustainability.
Together, they have unveiled the innovative Green Buildings Tool, a cutting-edge interactive digital platform aimed at empowering commercial property customers to enhance their building operations' environmental impact.
A Data-Driven Approach to Sustainability
Setting a precedent for Australia, the Green Buildings Tool utilises a data-driven approach to help customers comprehend their building's predicted emissions footprint. Drawing on third-party benchmarking data, the tool provides valuable insights into the potential decarbonisation impact of retrofitting efforts.
Moreover, it offers estimates of the investments required to achieve a National Australian Built Environment Rating System (NABERS) Energy rating improvement, ensuring both ecological benefits and energy cost savings.
Addressing a National Imperative
With commercial buildings accounting for 24 per cent of Australia's electricity consumption and 10 per cent of its greenhouse gas production, the Green Buildings Tool presents a powerful opportunity for nationwide emissions reduction. For nearly two decades, CFP has successfully aided commercial property owners in Europe and the UK in adopting greener practices, analysing over 1,500,000 buildings annually.
Collaborative Sustainability Efforts
The introduction of the Green Buildings Tool in Australia showcases the collaborative efforts of Commonwealth Bank and CFP, who have worked closely with the Green Building Council of Australia and NABERS. The tool's primary objective is to help buildings significantly reduce energy usage and carbon emissions while validating these accomplishments through a certified NABERS rating.
Driving Sustainable Real Estate Transformation
Mike Vacy-Lyle, Commonwealth Bank's Group Executive for Business Banking, emphasises the tool's role in bridging the knowledge gap among property owners regarding their buildings' environmental impact. The Green Buildings Tool provides invaluable initial insights into estimated emissions profiles and actionable steps towards decarbonisation, free of charge. Simple upgrades like LED lighting and intelligent building management systems emerge as effective strategies to reduce carbon footprints, enhance energy efficiency, and boost property value, attracting higher occupancy rates, rents, and lease terms.
Empowering Commercial Estate Owners
Bram Adema, Founder and Managing Director of CFP Green Buildings, highlights how the Green Buildings Tool empowers Australian commercial estate owners to streamline energy consulting, saving both time and money. By showcasing viable business cases and pathways to energy and carbon reduction, the tool enables property owners to make informed decisions about sustainable upgrades, benefiting single assets and entire portfolios alike.
Unified Vision for a Greener Future
The joint efforts of CFP and Commonwealth Bank underscore their commitment to supporting the property sector in transitioning to net-zero emissions. As Australia's leading business bank, Commonwealth Bank aims to provide new insights and support existing and new customers in their sustainability journey.
Sustainable Finance Driving Change
Carlos Flores, Director of NABERS, recognises the pivotal role of sustainable finance in driving decarbonisation within the building sector. CFP and Commonwealth Bank's initiative is set to catalyse the adoption of energy upgrades in Australian buildings, enabling them to substantiate their sustainability claims through a certified NABERS rating.
A Decarbonisation Challenge and the Way Forward
Davina Rooney, CEO of the Green Building Council of Australia, acknowledges the significant decarbonisation challenge the property sector faces in meeting Paris Agreement targets. She welcomes Commonwealth Bank's Green Buildings Tool as a crucial step in facilitating and financing green upgrades effectively aligning with the broader mission of transitioning to a sustainable future.
Unlocking the Path to Greener Buildings
The CommBank Green Buildings Tool provides customers with a user-friendly interface to input their building information and obtain vital insights, such as the baseline emissions footprint and the impact of potential property upgrades on energy efficiency and emissions.
For properties with a NABERS rating, the tool displays the current rating and estimates the improved NABERS rating post-upgrades. For properties without a NABERS rating, the tool offers an indicative current NABERS rating and the anticipated improvement post-upgrades. This functionality allows properties seeking finance for upgrades to verify their effectiveness through a certified NABERS Energy rating.
Towards a Greener Future
As a testament to their forward-looking approach, the Green Buildings Tool is expected to incorporate the Green Star Rating System in the future, further augmenting its capacity to drive sustainability in the commercial property sector. With coverage across various property types, including office spaces, retail outlets, industrial complexes, hotels, and more, the tool ensures that sustainable transformation is accessible and attainable for diverse stakeholders.
To view and compare company ESG Ratings and Sustainability Reports across sectors, follow our Company ESG Profiles page.
Source: CommBank
