- The new, publically available Model Green Lease clauses aim to inspire parties to consider how to increase sustainable operations in their tenancies or buildings
- They cover topics such as cooperation and management; consumption; waste and recycling; standards and specifications; and compliance and costs
- Many of the clauses have the potential to provide clients with financial and/or operational benefits
For practitioners looking for ways to advise their clients on how to improve sustainable operations and collaboration in commercial leasing, the adoption of a ‘green lease’ can provide a good place to start.
Launched in 2011 by the Lord Mayor of Sydney, Clover Moore MP, the Better Buildings Partnership (BBP) aims to improve the sustainability of the built environment in Sydney’s CBD. The partnership is comprised of major building owners, building managers, leasing agents and universities, including Lend Lease, DEXUS, AMP Capital, Investa, CBRE and the University of Sydney.
The model lease clauses were developed by the BBP and Sparke Helmore in response to an industry perception that green leasing is too difficult, expensive and time consuming. The new clauses now aim to make green leasing easier, cheaper and simpler.