Energy efficiency in Sydney

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01 December 2011

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The Australian city of Sydney, a city of around 4.5 million people, intends to sign 10 Environmental Upgrade Agreements over the next 12 months to improve energy efficiency in the city’s office buildings.

A city official said that the plan is to help commercial building owners to gain access to private capital and to share the upgrade costs with tenants.

Sydney has set a 70 percent target for the reduction of CO2 emissions by 2030, based on the city’s 2006 energy use, this scheme is a small step to reach that target..

Sydney's Sustainability Programs Manager, Tom Belsham, said: "Because it's a relatively new business for us, we want to just offer 10 to start with and learn from how we interoperate with the business community and finance providers."

Belsham revealed that the National Australia Bank, the country’s biggest lender, is ready to take part, with several other financial organisations showing interest in the scheme.

Apart from the financial and repayment plans. the city is also offering energy efficiency grants to the city’s businesses of AUS$40,000 ($40,500) to reduce power bills and CO2 emissions.

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