SOURCE: Legg MasonDESCRIPTION:
The Institute for Market Transformation (IMT) and the U.S. Department of Energy’s (DOE) Better Buildings Alliance has announced Clarion Partners, LLC as a GOLD-level 2020 Green Lease Leader. Launched in 2014, Green Lease Leaders sets national standards for what constitutes a green lease, while recognizing landlords and tenants who modernize their leases to spur collaborative action on energy efficiency, cost-savings, air quality, and sustainability in buildings.
To receive GOLD recognition, Clarion qualified for credits in energy efficiency and sustainability best practices by partnering with tenants on measures such as tracking common area water and energy use, requiring minimum energy efficiency fit-outs, requesting annual energy disclosures, encouraging high efficiency lighting and/or sensors and controls and a variety of other energy-saving initiatives.
Clarion is proud to be part of the national trend toward green leases in commercial spaces. IMT estimates that in the commercial sector alone, green leasing has the potential to affect 8 percent of leased space nationwide, and if all leased office buildings executed green leases, the market could reap over $3 billion in annual cost savings.
In addition, Clarion was recently named a Fitwel Champion by the Center for Active Design (CfAD). Fitwel, a joint initiative led by the U.S. Centers for Disease Control and Prevention and the General Services Administration, is a building rating system that provides guidance on the design and operation of healthier buildings. Healthy building is the next generation of “green building” that not only includes environmentally responsible and resource-efficient building concepts, but also integrates health, wellness, and human experience in buildings. Clarion currently has 11 Fitwel certified properties across the U.S. with plans to pursue more.
“With the inclusion of green lease clauses into standard leases, Clarion opens a dialogue with tenants about sustainability from Day One,” said Clarion Managing Director Katie Vaz. “These clauses allow Clarion to work together with tenants to implement mutually beneficial initiatives to create healthier and more efficient buildings. Tenant involvement in our ESG and sustainability efforts also makes it easier to pursue more impactful projects and certifications focused on occupants’ health and wellbeing, such as Fitwel.”
About Clarion Partners
Clarion Partners, LLC, an SEC registered investment adviser with FCA-authorized and FINRA member affiliates, has been a leading U.S. real estate investment manager for more than 37 years. Headquartered in New York, the firm has offices in major markets throughout the U.S. and Europe. With over $50 billion in total assets under management, Clarion Partners offers a broad range of both debt and equity real estate strategies across the risk/return spectrum to its more than 350 domestic and international institutional investors. More information is available at www.clarionpartners.com.
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KEYWORDS: NYSE:LM, legg mason, Clarion Partners, GOLD Green Lease Leader, Fitwel Champion, Center for Active Design, Department of Energy’s Better Buildings Alliance