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The continuing evolution of energy efficiency requirements for buildings and their legal implementation impacting upon asset valuation
Directive 2012/27/EU of the European Parliament and of the Council on energy efficiency, the Energy Efficiency Directive (EED) sets out measures aimed at reducing energy usage from production through to final consumption. Together with the Energy Performance of Buildings Directive1 (EPBD) they drive energy efficiency and building performance improvements and have potentially significant implications for the survey and valuation assessment of buildings. This paper reviews the Article 8 EED requirements on energy audits, the UK approach to such audits, European proposals for revisions to the EED and the EPBD alongside other changes in the law in the UK and the implications for the survey and valuation of buildings in the future given Brexit or otherwise. There are a range of measures now in place, similarly proposed to increase the awareness of energy emissions associated with buildings and encourage reduction of emissions which may increasingly impact on asset attractiveness and valuation.
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Olivia Jamison has over 16 years’ experience advising on environment law matters. She advises on environmental liability, energy and greenhouse gas laws, regulatory compliance, risk transfer and strategic sensitive environment issues at domestic and EU level. Olivia works regularly with colleagues across Europe on environment and energy advisory projects.