The importance of investing in so-called ‘Green Buildings’ will be at the forefront of developing and investing over the coming decades. The now obvious climate change crisis is something no one can hide from and as an industry, investment and construction will have to play it’s part.
The house is on fire.
“I want you to act like the house is on fire… because it is!”
– Greta Thunberg – 16 year old Swedish school girl
A report from the Irish Green Building Council (IGBC) from earlier this year begins with a stark reminder of our situation. The report has made several recommendations for the industry regarding many topics from building materials to planning laws in order to aid Ireland’s commitment to contribute to the EU’s target of 32.5% energy efficiency by 2030.
The report has called on the government to implement an all-government plan rather than the ‘piecemeal approach’ being taken at the moment. Particularly for the construction and property industry which contributes 40% of the energy use in Ireland.
The report goes on to outline how we need to rethink where we are building as well as how we are building future properties, as each of these decisions affects transport emissions, material production emissions, electrical grid efficiency and more. The recommendations include building more properties close to public transport to negate the need for a personal vehicle, thereby reducing the need for car parking and making more space available for accommodation. Suggestions like this may also go towards solving the housing crisis in Ireland.
Solutions
The IGBC report titled ‘Ireland’s Draft National Energy and Climate Plan (NECP) 2021-2030’ is vast and covers many topics. It has also made recommendations and offered potential solutions to many of the issues we face in the near future.
Some of the main points include Net Zero Carbon Buildings, which covers the fact that while many efforts are made to reduce the carbon emissions of modern buildings in relation to day to day operational emissions, construction methods and materials are still far off the mark.
Another topic is using and developing Smarter Energy and a long overdue shift away from fossil fuels, which will have obvious health benefits too. The use of Smart Meters and Hot Water storage are other suggestions to reduce energy consumption.
How will this affect your portfolio?
As the general population becomes more and more aware of the need to drastically change our ways in order to fight climate change, so-called ‘Green Buildings’ are going to become much more desirable. Particularly across the middle and upper classes the decision to take on an eco-friendly, low-emission property – whether residential or commercial – and an old, high-emissions property, will be an easy choice to make.
As always if you need any advice or help with your property portfolio, please don’t hesitate to contact us here at KPM Group and we’ll be happy to help in any way we can.
