As Australia continues its journey towards decarbonisation, the need for businesses to reduce their carbon footprint becomes increasingly vital. Recognising this, the Commonwealth Bank of Australia (CommBank) has partnered with CFP Green Buildings to launch the Green Buildings Tool in Australia. In the Financial Review, CommBank shares their experience so far, together with one of their clients.
Commercial buildings contribute significantly to Australia’s electricity consumption and greenhouse gas emissions, with around 24% and 10%, respectively. The Green Buildings Tool, already successful in Europe, analyses over 1.5 million buildings annually. In Australia, it empowers property owners to create multi-year plans for emission reduction, offering insights into potential energy cost savings and building improvements.
Described as a “digital energy consultant” by Michael Bennett, CommBank’s general manager of property and construction finance, the Green Buildings Tool covers 12 asset types and boasts over 300 building personas. Cohen Group, an Adelaide-based property company, attests to the Green Buildings Tool’s efficacy. It has used the tool to assess the environmental impact of Burnside Village shopping centre, identifying initiatives for improvement and simulating the impact of different measures on NABERS ratings.
Their conclusion: The Green Buildings Tool serves as a cost-effective solution, allowing owners to understand and enhance their building’s operating efficiency and energy consumption without continuous engagement with external consultants. Beyond immediate benefits, the tool positions buildings favourably for buyers and tenants seeking sustainable spaces.
CommBank’s commitment to providing a free platform underscores its dedication to helping clients improve building efficiency and reduce carbon use. As businesses strive to align with greener practices, the Green Buildings Tool emerges as a valuable asset in fostering sustainable commercial properties across Australia.