Sustainable Melbourne Fund, Victorian government to spread word on EUAs to SMEs

The Sustainable Melbourne Fund and the Victorian government will collaborate on a program to educate small and medium enterprises on how to access environmental upgrade agreements (EUAs).

Scott Bocskay, CEO, Sustainable Melbourne Fund

EUAs are agreements between a building owner, local council and financier to finance environmental retrofitting projects. Under the terms, the building owner is advanced funds for the upgrade by the financier in exchange for having a new council charge, an Environmental Upgrade Charge (EUC), levied on the building by the local council. The council then collects this charge and passes it back to the financier. Because the charge is tied to the building, and not the building’s owner, it is considered less risky. Additionally, the structure of the EUA overcomes the “split incentive” where tenant enjoy energy efficiency savings whilst the building owner pays the charges associated with the upgrade. 

 

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Rachel Alembakis

Rachel Alembakis

Publisher/Editor at The Sustainability Report
Rachel Alembakis has published The Sustainability Report since 2011. She has more than a decade of experience writing about institutional investments and pension funds for a variety of publications.
Rachel Alembakis

Author: Rachel Alembakis

Rachel Alembakis has published The Sustainability Report since 2011. She has more than a decade of experience writing about institutional investments and pension funds for a variety of publications.

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