Starting in the second half of 2010, the scheme will require business owners selling or leasing office space covering more than 2,000 square metres to disclose a valid Building Energy Efficiency Certificate, which will include a National Australia Built Environment Rating System, and assessment of lighting energy efficiency. Owners who don’t comply will risk a fine or prosecution.

Environment Minister Peter Garrett said that the scheme would provide building owners, potential buyers and tenants access to consistent, credible and meaningful information about a building’s energy efficiency in order to make informed decisions when buying or renting office space.

“Greener offices are not only more comfortable to work in, they can also boost productivity, bring down sick leave, support green building industry jobs and have the potential to deliver savings of 20 – 40 per cent on energy bills,” Mr Garrett said.

Australian, state and territory government energy ministers have approved the parameters of the new disclosure scheme, with Commonwealth legislation now being developed to give effect to the scheme in the second half of 2010.

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In the coming months the government will be co-hosting seminars on the new regulations in conjunction with the Property Council of Australia.

The news of the regulations follows an announcement by the World Green Building Council that the world’s leading green building organisations will adopt a common measurement of the carbon footprint of buildings.