Not many people are aware of this, but strata management originated as an Australian innovation. The first scheme in New South Wales was registered in 1961, and still continues to be managed by Somerville Strata Management, a subsidiary of PICA Group.
The strata management model has been so successful, that there are now similar models being used across the world. With more than 2 million strata schemes registered in Australia, PICA Group currently manages approximately 15% of the rapidly growing market. As a significant player in the property landscape, strata schemes certainly have an influence on assisting the government to achieve its sustainability and climate change goals.
Where we are at …
Carbon emissions are the release of greenhouse gases into the atmosphere over a specified area and period of time.
Australia’s legally binding climate commitment involves reducing CO2 emissions by 26-28% of 2005 levels by 2030, a reduction of our current utilisation of 576m tonnes a year to under 400m tonnes by 2030.
75% of Australia’s current carbon emissions come from 39% energy generation from buildings such as apartments and shared commercial premises. It is believed that strata schemes could therefore account for as much as 10% of Australia’s total emissions.
Where do we want to be …
If PICA Group has 15% of the strata management market, then its role in helping Australia realise its sustainability goals cannot be underestimated. From streamlining legislation, to the introduction of sustainability targets and building ratings, to promoting green buildings and technology upgrades like motion sensors, timers on extractor fans, LED lighting, and changing settings on HVAC systems – all can realise energy and dollar savings for a relatively small investment.
In addition, initiatives such as bulk purchasing of power, smart metering and embedded networks, have even bigger potential, with tens of thousands of dollars of costs savings and a return on investment often measured in months instead of years.
Why does this matter for a strata management company such as PICA Group? The role of the strata industry is expected to radically change over the coming years, as there’s increased innovation around artificial intelligence and the growth of smart buildings and cities. All these changes can realise huge cost saving potential for property owners, while saving the environment.
Tim Jarvis AM was appointed as environmental ambassador to PICA Group in November 2017 to increase awareness of what PICA Group is doing, and provide guidance, expertise and contacts to help with the process. He is an environmental scientist, author, adventurer and public speaker with Masters degrees in environmental science and environmental law, committed to finding pragmatic solutions to major issues such as climate change and biodiversity loss and uses his public speaking engagements, films and books about his expeditions/work to progress thinking in these areas.
PICA Group will be hosting a lunch on 3 May in Sydney where customers will be able to listen to group CEO, Greg Nash, and environmental expert Tim Jarvis present on sustainability. Information on event registration is available HERE.