The Institute for Market Transformation (IMT) and the US Department of Energy’s Better Buildings Alliance kicked off the 2015 Green Lease Leaders Recognition Program. Commercial brokers and landlords across the globe who are introducing energy efficiency practices into their leases are encouraged to apply.
Recipients will receive the “Green Lease Leader” designation and will be given an official seal for placement within their buildings and for use in their sustainability profiles.
With support from leading real estate practitioners, the Green Lease Leaders program highlights innovative leasing practices such as effective ways to share the costs of energy-saving improvements with tenants and increase energy data transparency. It also bolsters those who are already deploying replicable solutions to improve efficiency, helping other companies to benchmark and determine what language is appropriate to add to their lease.
Real estate practitioners are seeing that sustainability-focused changes to standard lease language not only help reduce electricity and water consumption and improve tenant comfort, but they also allow for the better control over operating expenses while minimizing waste. One of last year’s Green Lease Leaders, Jamestown, a real estate management company that owns over $7 billion in assets, identified green leasing as an essential tool for seizing energy efficiency opportunities. In order to roll out energy efficiency standards across its buildings nationwide, Jamestown worked with each regional office to ensure asset managers and leasing agents understood the benefits of green clauses and were equipped to apply energy efficiency principles to their local markets.
To earn a Green Lease Leader designation, landlord and tenant applicants must:
- Have signed and executed at least two green leases in their portfolio;
- Submit a narrative description of the applicant’s internal green leasing initiative, along with a completed application and a small entry fee.
For individual brokers or brokerage teams, the application requires a mix of sustainability education and leasing energy efficient spaces, with applicants earning points for actions such as conducting sustainability education sessions and negotiating leases in LEED certified buildings.
Applications will be accepted until April 8. The 2015 group of recognized firms and brokers will be announced at DOE’s Better Buildings Summit in Washington DC on May 27.
IMT and the DOE BBA launched the Green Lease Leader program last year.