The non-profit Institute for Market Transformation (IMT), in partnership with the chamber of commerce group Council of Smaller Enterprises (COSE), is launching a project in Cleveland to help commercial buildings save money and energy by connecting landlords and tenants around energy efficiency, particularly when it comes to the lease.
IMT and COSE will work together to deploy the leasing project at the intersection of building efficiency programs currently underway in Cleveland, including COSE’s Nonresidential Energy Assessment Program, the Cleveland 2030 District, the City of Cleveland Mayor’s Office of Sustainability, and Sustainable Cleveland 2019. IMT and COSE will work with participating owners and tenants on smart commercial leases that equally align the costs and benefits of energy efficiency investments between the two parties.
Traditional leases designate responsibility for landlord and tenant, but rarely do they account for energy efficiency. When inserted into existing lease forms, green leasing terms realign incentives, facilitate information sharing and encourage landlords and tenants to work together on the efficient use of energy and other resources.
In March, IMT and the US Department of Energy’s Better Buildings Alliance honored 14 property owners, tenants and brokers who are effectively using the lease as a tool to save energy in commercial buildings.