The government's new carbon reduction initiatives will cause problems for commercial property developers, it is claimed.
Commercial development companies are growing increasingly concerned about the affect the government's carbon reduction plans are to have on their businesses.
The Carbon Reduction Commitment Energy Efficiency Scheme (CRC) was introduced by the Department of Energy and Climate Change at the start of April.
It forms part of the government's plans to reduce carbon emissions by 80 per cent of the 1990 baseline by 2050.
What it means for
property investment firms is that landlords will be responsible for the carbon outputs of their office buildings, something over which they have virtually no control, according to the Financial Times.
The CRC league table rewards business that use low amounts of carbon, despite the fact that businesses all have different business models.
Land Securities estimates it will receive an extra annual bill of £3 million due to the legislative changes.
Referring to the carbon league table, Neil Pennell, head of sustainability and engineering at Land Securities, told the newspaper: "Property companies will be in the bottom half, it is safe to assume."
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