Commercial, Energy Efficiency, Energy Procurement  -  April 15, 2024

Green Lease Leaders Announced

The Institute for Market Transformation (IMT) and the U.S. Department of Energy’s (DOE) Better Buildings Initiative announced the 2024 Green Lease Leaders at the Better Buildings, Better Plants Summit.

Founded by IMT and DOE’s Better Buildings Initiative in 2014, Green Lease Leaders set the industry standard for what constitutes a green lease. The program recognizes landlords and tenants who modernize their leases to spur collaboration on energy efficiency, decarbonization, cost savings, health, and a range of other environmental and social issues.

This year’s 65 awardees cover nearly 2.9 billion square feet, including 31 organizations receiving Green Lease Leaders recognition for the first time. 

The number of platinum winners, which include organizations that achieved Green Lease Leader’s highest tier of recognition, more than doubled since 2023. The overall program growth reflects a wide acceptance that green leases are a critical tool for improving buildings, meeting corporate environmental and social goals and that organizations are continuing to enhance their green leasing practices. 

Green Lease Leaders range from large and small commercial offices to healthcare, industrial and multifamily buildings. 

“Creating a way for landlords and tenants to work together to ensure lasting savings and improved spaces is the hallmark of this year’s Green Lease Leaders,” said Maria T. Vargas, Senior Program Advisor at DOE and Director of the Better Buildings Initiative, in a statement. “These organizations are leading the way with their commitment to successful strategies and better buildings.”

The IMT estimates that green leases can help reduce utility bills by up to approximately 50 cents per square foot (22 percent) in U.S. office buildings alone. If all leased office buildings executed green leases, the market could reap over $3 billion in annual cost savings.

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