IIp23-24_property.qxd 20/5/09 15:51 Page 3
International investment | 23
Property
Sustainability:
The Investment Imperative
Investment in the construction sector must
increasingly take environmental considerations
by Dr Angus McIntosh,
Partner & Head of Research,
King Sturge LLP
T
he “energy - climate era” has
arrived. This is the term coined
by Thomas Friedman in his
recent book “Hot, Flat and
Crowded”. It has become the
agenda for President Barack
Obama and is also driving the European
Union’s next directive relating to the energy
performance of buildings.
In this directive it states: “Buildings are at the
core of the European Union’s prosperity. They
are important to achieve the EU’s energy saving
targets to combat climate change whilst con-
tributing to energy security.”
The EU also states: “More energy efficient
buildings provide better living conditions and
save money for all citizens … the best moment
for energy improvement is when buildings are
constructed or renovated … member states
have to ensure a good quality of the certificates
and inspection …”
From 2009 onwards all buildings bought,
sold and let within the European Union are
expected to have an Energy Performance
Certificate. Simply stated, this measures the
construction of the building against the per-
formance characteristics of different elements
www.investmentinternational.com May 2009 Investment International
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