As this ULI’s Climate Change report quite rightly explains,  successful decarbonisation in the built environment requires owner-occupier alignment. The report doesn’t hold back: “Progress on the decarbonisation of real estate portfolios is being held back by a lack of understanding and collaboration between property owners and occupiers”. Unquestionably, collaboration is key to any decarbonisation pathway on a tenanted real estate asset. 

As all those familiar with green leasing will testify, the concept of collaboration is often tested in negotiation. Owners and occupiers, quite naturally, have their own aspirations but also sensitivities, usually relating to cost and operational “risk”. The nature of the “green lease” is evolving all the time. 

Today marks a significant milestone. In 2008, the BBP first launched its Green Lease Toolkit. We have come a long way since then and now have the much anticipated update - inevitably, it will form a helpful reference point - an industry benchmark on green leasing (particularly the “Green Lease Essentials”). Perhaps even going some way to address the observations in the ULI report. Time will tell but undoubtedly a really positive step on the net zero pathway!