The British Property Federation (BPF) has published its annual analysis of Energy Performance Certificate (EPC) ratings for commercial buildings across seven major English cities and found that 81% of stock remains below EPC B. The analysis covered all commercial asset classes in London, Birmingham, Bristol, Leeds, Liverpool, Manchester and Newcastle. It showed that 3% of buildings are rated EPC A and 16% EPC B, leaving around 190 million square metres of commercial floorspace below the proposed future minimum standard, despite year-on-year improvements of only 1–2%. Manchester and London performed best, with 22% and 21% of buildings respectively rated A or B. The Federation attributed the slow pace of improvement to the government’s failure to respond to its 2021 consultation on minimum energy efficiency standards, which proposed targets of EPC C by 2027 and EPC B by 2030, stating that the continued lack of clarity is delaying investment and upgrades and risks large parts of the commercial estate becoming unlettable.