Building Upgrade Finance in South Australia
On 30 April 2012, the Premier's Climate Change Council endorsed advice to the Minister for Sustainability, Environment and Conservation entitled Environmental Upgrade Finance for Greening South Australia's Building Stock. This advice makes a series of recommendations relating to the establishment of Environmental Upgrade Finance in South Australia.
The State Government released a consultation paper to seek the views of interested parties to help inform any decisions the South Australian Government may make in relation to the Council's advice. Individuals and organisations were invited to submit written comments by 20 July 2012. The views of stakeholders from the property, finance and local government sectors were particularly sought, and submissions were received from a number of organisations.
On 5 September 2012 the Minister for Sustainability, Environment and Conservation tabled a response in Parliament to the advice received from the Premier's Climate Change Council. This includes a summary of stakeholders’ feedback in response to the consultation paper.
On 24 October 2013, the Minister for Sustainability, Environment and Conservation announced that the Government of South Australia was working on legislative provisions to introduce Building Upgrade Finance in South Australia.
On 30 January 2014, the draft Local Government (Building Upgrade Agreements) Amendment Bill 2014 was released for public consultation, closing on 11 April 2014.
On 11 February 2015, the Local Government (Building Upgrade Agreements) Amendment Bill 2015 was introduced to the Legislative Council.
On 2 December 2015, the Local Government (Building Upgrade Agreements) Amendment Bill 2015 was passed through the Legislative Council.
On 10 December 2015, the Bill passed through the House of Assembly, with one amendment. The passing of enabling legislation makes South Australia the third jurisdiction in Australia to introduce a Building Upgrade Finance mechanism. Updates will be posted on this page when they become available.
The State Government has released a number of reports as part of its investigations into the potential for establishing Building Upgrade Finance in South Australia.