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The 1200 Buildings program in Melbourne, Australia was designed to encourage the retrofitting of 1,200 commercial buildings, or about 70% of the city’s commercial buildings stock. After two years, the program has spurred 10% of the building sector to retrofit, and helped to earn the city a City Climate Leadership Award.
City Switch, a program to help office tenants increase energy efficiency, also contributed to the award. The establishment of Environmental Upgrade Agreements (EUAs), a finance mechanism developed to remove barriers preventing buildings owners from accessing financing to retrofit buildings for energy and water efficiency has boosted retrofit activity. To date, four buildings have used EUAs to make $5.6 million of investment, leading to an expected reduction of 5660 tons of carbon emissions and $491,000 in energy costs per year.