This BBP “Industry Insight Paper” hits the nail on the head. As the industry transitions on a net zero pathway, owner-occupier engagement is key - but for all the progress to date, we need to see more. As lawyers we encounter some of the observations first-hand - natural friction around green leasing concepts and openness on data sharing.
On a personal note, two themes stand out:
- “Green leases are not delivering on their potential”: Despite the progress s on contractual commitments, it does not feel like that is translating to measurable outcomes on the ground.
- “A significant change in regulatory gears is necessary to deliver the scale and pace of change required”: It feels out of step with recent government announcements, but surely this is the key to progress? And if it is the case that both owners and occupiers are calling for more regulatory ambition, surely a "no brainer"?
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There was consensus in the research that greater ambition and enforcement from government is necessary to help drive the required investment and behaviour changes from owners and occupiers, to achieve a more sustainable real estate sector
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