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European Property Sustainability Matters European Property ...

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In France building regulations changed on 1st<br />

September 2006.<br />

The major criticism is that Part L of the Building<br />

Regulations:<br />

• only measures energy “in use”<br />

• does not reflect the “embodied” energy wasted<br />

when an old building is demolished and a new<br />

building is constructed<br />

• does not reflect the transport energy used getting<br />

to and from the building<br />

• does not reflect how the building is used; well<br />

planned, densely occupied buildings will use far<br />

less energy per person than badly designed, less<br />

used building<br />

• could mean that extra construction costs will<br />

inhibit new building or building alterations,<br />

encouraging occupiers to carry on using old,<br />

carbon inefficient buildings.<br />

<strong>Property</strong> market implications include the fact that<br />

the mandatory requirement to have such insurance,<br />

whether it is locationally and/or functionally based,<br />

will add to the costs of undertaking potentially<br />

polluting activities.<br />

Changing laws … changing markets<br />

Slowly, laws will change; when the leases of<br />

buildings leased in 2006 come to an end in a few<br />

years time, there may be a very different legal,<br />

financial and ecological climate. In 2016 –<br />

• will it be easy to re-let these buildings? Or<br />

• will they be regarded as Grade B stock?<br />

• will obsolescence accelerate & capital values fall<br />

for some investments?<br />

Most developers and investors are not yet<br />

“future proofing” their financial decisions.<br />

Waste<br />

The 2003 EU Directive on Waste from Electrical<br />

and Electronic Equipment (WEEE) aims to<br />

increase the re-use, re-cycling and recovery of<br />

this kind of waste.<br />

WEEE Directive regulations came into force for<br />

most EU-15 member states on 1 July 2006.<br />

The rules require producers to finance the costs<br />

arising from the collection, treatment and<br />

recovery of anything from an extensive range of<br />

electrical equipment.<br />

As with the EPBD, there have been delays in<br />

implementing this EU Directive and it is now<br />

anticipated that new legislative proposals, based on<br />

a review of WEEE, will take place in June 2008.<br />

Environment<br />

The Environmental Liability Directive, one of<br />

the EU’s most controversial and potentially farreaching<br />

pieces of environmental legislation,<br />

came into force in April 2004.<br />

It attempts to prevent environmental damage by<br />

forcing industrial polluters (“operators”) to pay<br />

prevention and remediation costs.

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