In the wake of COP26, we are making a conscious effort to stay ahead of the curve by embedding environmental, social and governance (ESG) factors into our core strategy. At Pexhurst, we believe the rapid transition to electric mobility is essential to building a sustainable future for all.
The government indicated that supporting the transition to electric power, specifically electric vehicles, is essential for building back better. According to the European Energy Agency, electric vehicles (EVs) produce 17-30% fewer carbon emissions than diesel or petrol cars. They also have fewer components meaning they do not have to be serviced as often as other vehicles, making them more environmentally friendly to maintain.
In November last year, the government announced its electric vehicle revolution, indicating that the move to electric power is essential for building a more sustainable country. The revolution means that the production of new petrol and diesel cars will stop completely. New homes and buildings such as supermarkets and workplaces, as well as those undergoing major renovation, will be required to install EV charging points from this year.
There’s no doubt these new regulations will drastically impact the property sector across the board; in addition to the mandated new builds, we are likely to see a rise in demand for existing commercial spaces with EV charging capability.
Building owners and landlords are beginning to think strategically about the benefits of installing EV charging stations across their portfolios to increase their rental returns. Spaces with charging stations will be worth much more than places without. But more than just fiscal benefits, people and businesses are placing increasing social value on prioritising environmental concerns and those in the property sector need to reflect this change in sentiment for users.
Key stakeholders need to adjust their property strategies to include EV into their short and long-term plans, making sure that buildings make room for charging stations. At Pexhurst, we’ve already installed a number of EV charging points at HQ and have recently expanded our new EV fleet. We’re also helping a number of clients bring their EV plans to life and have been responsible for installing EV charging facilities across a range of projects over the past year.
We look forward to seeing how this develops in the months and years to come and to working with many more clients to harness the EV revolution and ultimately build a more sustainable future for us all.
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