Four leading construction industry firms have established a unique venture to create the world’s first green retrofitting business for commercial building stock.
Brookfield Construction has joined with architectural practice Woods Bagot, engineering consultancy WSP, and M&E contractor Mercury to create Brookfield Green which combines construction, engineering and design skills to offer a comprehensive building upgrade service, catering for a market estimated to be in the region of £500bn.
Sam Royal, General Manager at Brookfield Green, said: “The UK market offers significant opportunity for a venture of this type. Much of our existing commercial building stock does not meet current environmental standards, while recent legislation coupled with rising energy costs has created the need for owners to invest.
“The Climate Change Act enshrines the UK’s world leading commitment to reducing carbon emissions. With non-domestic buildings generating 18% of total UK emissions, they are a major target for improvement under the Act.
“Since introducing this Act, the Government has developed a raft of related initiatives – from the Carbon Reduction Commitment, to the revised Part L Building Regulations, and proposals to extend Display Energy Certificates to the commercial sector – all increasing the pressure on landlords and tenants to upgrade existing properties.
“Responding to this market need, Brookfield Green utilises the skills-sets of its consortium members to create a business that will improve the environmental performance of buildings and guarantee the owners a return on their investment.”
Financial backing
The key element of the Brookfield Green offer to clients is the finance backed guarantee of operational performance that is the first of its kind to be offered by a contractor in the global market.
The public sector is also a significant target for Brookfield Green. With the Coalition’s pledge to be the greenest ever government, retrofitting offers a significant opportunity to improve financial and environmental performance across the ageing estate, valued at an estimated £370bn.
“The Brookfield Green service is being offered in the UK initially, as it is our belief that the owners of commercial property assets, as well as public sector decision-makers, face significant challenges in achieving improved building performance in this country. However there are many other markets across Europe and the Americas where we believe that our offer will resonate commercially and environmentally, as owners respond to the multiple drivers of badly ageing stock and increasingly demanding regulation,” explained Sam Royal.
“Brookfield Green’s unique, consultative approach means that not only can we deliver returns on investment and ensure compliance with sustainable regulations, but we can also contribute to improved business performance by delivering outcomes with the potential to enhance staff health, wellbeing and productivity, as well as improving the attraction and retention of key resources.”