The monthly update of the Institute for Market Transformation

May 2014
Congratulations to the 2014 Green Lease Leaders

IMT's Adam Sledd and DOE's Kathleen Hogan honoring some of this year's Green Lease Leaders at the Better Buildings Summit 

IMT and the U.S. Department of Energy’s (DOE) Better Buildings Alliance are proud to honor the first class of Green Lease Leaders. The new recognition program, developed with support from leading real estate practitioners, distinguishes property owners, tenants, and brokers who are effectively using the lease as a tool to save energy in commercial buildings.

The Green Lease Leaders used lease clauses to improve sustainability in several ways, such as: allowing for sharing of the costs of energy-saving improvements; ensuring tenants build out to green standards; increasing transparency by sharing access to energy consumption data and ENERGY STAR scores between tenants and landlords; and encouraging cooperation on environmental initiatives.

The companies and brokers recognized this year own or manage 400 million square feet of combined property and have buildings on four different continents. Their green leasing strategies have been applied across nearly every major property type, including offices, retail space, and manufacturing sites. IMT congratulates this year's Leaders, whose efforts go unrecognized all too often.


2014 Green Lease Leaders: 

To find out more about the recognition program, read our press release or visit the Green Lease Leader website.


SAVE Act Introduced in the House

On May 8, the Sensible Accounting to Value Energy (SAVE) Act was introduced in the House of Representatives. This bipartisan, common-sense piece of legislation aims to strengthen the mortgage underwriting process by more accurately accounting for energy efficiency measures in a home.

IMT would like to thank the bill’s sponsor, Rep. Pete King (R-N.Y.), as well as the bipartisan list of co-sponsors. The SAVE Act is supported by a diverse coalition ranging from the U.S. Chamber of Commerce and the National Association of Home Builders to the Natural Resources Defense Council and the Alliance to Save Energy.

Federal Reserve Review Features Home Energy Efficiency and Mortgage Risks

The Community Development Investment Review, a publication of the Federal Reserve Bank of San Francisco that shares best practices in providing capital to low- and moderate-income communities, recently featured an extended abstract of IMT and the UNC Center for Community Capital's report, Home Energy Efficiency and Mortgage Risks.

The study shows the risk of mortgage default is one-third lower for energy-efficient, ENERGY STAR-rated homes – a factor lenders and Congress should consider when making mortgage loans and policy (e.g. the SAVE Act).

IMT is proud to have this report highlighted by the Fed among other expert contributors who are addressing community development and environmental issues.

IMT in the News

These REITs Are Saving the Environment, One Lease at a Time The Motley Fool 05/21/14

Energy efficient homes should come with better mortgages The Hill 05/20/14

Telling It Like It Is: 11 CRE Sustainability Managers Talk About Their Work National Real Estate Investor 05/19/14

Dropbox Lease Contains Special Language Bisnow 05/19/14

Using Data to Build Energy Efficient Cities Smart Data Collective 05/14/14

Partisan sabotage in the Senate unplugs a useful bill The Washington Post 05/14/14

Green Lease Leaders Recognition Program Announces Inaugural 2014 Class Green Real Estate Law Journal 05/14/14

Oxford Properties Group a 2014 Green Lease Leader Property Biz Canada 05/13/14

Seven REITs Named as 2014 Green Lease Leaders 05/09/14

14 Firms Use Tenant Leases as Energy Saving Mechanisms Energy Manager Today 05/07/14

First U.S. County Passes Energy Benchmarking Law EcoBuilding Pulse 04/30/14

Energy benchmarking law goes from cities to county Fierce Energy 04/30/14

Montgomery County Becomes First in the U.S. to Pass Energy Benchmarking Law NEMA 04/30/14

Hey Honey, Don’t Tell the Neighbors I Left the Air Conditioning on Next City 04/22/14

Deadline for 2014 Standard Bearers Awards July 31

IMT and the International Codes Council (ICC) are now accepting applications for the third annual Standard Bearers Award. This award, sponsored by the Global Buildings Performance Network (GBPN), recognizes state and local jurisdictions and individuals who have raised compliance with energy codes and achieved energy reduction in buildings using smart, cost-effective strategies.

Winners will receive a travel stipend to attend the 2014 ICC Annual Conference and Public Comment Hearings in Ft. Lauderdale, Fla., where they will be honored at the ICC Awards Luncheon. The deadline to submit 2014 applications is July 31, 2014.


NEEP Recognizes JW Marriott, DCSEU for Efficiency Improvements

IMT congratulates JW Marriott Washington, DC on being chosen by the Northeast Energy Efficiency Partnership (NEEP) as a 2014 Northeast Business Leader for Energy Efficiency. Since 2012, JW Marriott's hotels in DC have worked with the DC Sustainable Energy Utility (DCSEU) to reduce energy use and costs, resulting in annual energy savings of over 1.7 million kWh across 7 Marriott locations, and projected cost savings of $600,000.

Added bonus: Read Cliff Majersik's new blog post on some of the other major sustainability action happening in the nation's capital.
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