REBA’s Commercial Real Estate Principles, a foundational tool to support the Future of Real Estate Power program, leverage tenant and landlord demand for sustainable energy solutions to transform how owners and operators view emissions reduction potential of commercial buildings.
Commercial buildings are responsible for 16% of carbon dioxide emissions and 35% of electricity use in the U.S.1 Therefore, any strategy to significantly reduce corporate emissions must include the real estate sector. With sustainability leaders in the industry emerging, investors calling for action, and tenants seeking green solutions, the commercial real estate sector is poised for significant investment in renewable energy.
REBA members will inform FoREP through the creation of resources and engagement opportunities that will address the toughest challenges of procurement in the industry, including:
- Data sharing and transparency for effective sustainability reporting
- Treatment of environmental attributes to make renewable energy use claims
- Development of contracts that accelerate renewable procurement in real estate
The Commercial Real Estate Principles are FoREP’s first resource aimed at powering commercial real estate with renewables. The Principles were created to galvanize landlords and tenants to accelerate renewable energy procurement, guide landlord-tenant collaboration, and demonstrate growing industry demand for sustainable solutions. Any company may sign the Principles; there is no fee or REBA membership requirement to sign on. Tenants may use the Principles to help inform their energy management requests to landlords. Landlords may use the Principles to develop sustainable energy solutions for tenants.
Tackling large issues often begins with taking small steps. We hear time and again from energy buyers that without smaller wins, larger achievements become much more difficult. For instance, many tenants and landlords struggle to simply determine whom to contact regarding sustainability or energy issues. Collaboration between tenants and landlords is critical to address both major and minor obstacles in renewable energy procurement for commercial real estate and drive meaningful industry decarbonization. Therefore, landlord-tenant collaboration will be a focal point of FoREP’s strategy and resource development as it drives its objectives forward.
To learn more about the Future of Real Estate Power program and how to get involved, or the Commercial Real Estate Principles and how to become a signatory, contact firstname.lastname@example.org.