The greening of commercial leases
| Pages | 541-551 |
| Published date | 26 September 2008 |
| Date | 26 September 2008 |
| DOI | https://doi.org/10.1108/14635780810908389 |
| Author | Mark Hinnells,Susan Bright,Angela Langley,Lloyd Woodford,Pernille Schiellerup,Tatiana Bosteels |
| Subject Matter | Property management & built environment |
The greening of commercial
leases
Mark Hinnells
Environmental Change Institute, University of Oxford, Oxford, UK
Susan Bright
New College, Oxford, UK
Angela Langley
Cardiff University, Cardiff, UK
Lloyd Woodford
Department of Environment, Water, Heritage and the Arts, London, UK
Pernille Schiellerup
Environmental Change Institute, University of Oxford, Oxford, UK, and
Tatiana Bosteels
London Climate Change Agency, London, UK
Abstract
Purpose – This paper seeks to consider how policy changes may drive a change in leasing practices,
in order to reduce environmental impact (particularly carbon dioxide emissions) from the commercial
building stock.
Design/methodology/approach – In many countries, including the UK, environmental policy
(particularly on carbon dioxide emissions from energy use) is beginning to impact on the commercial
property market. This paper explores barriers to improved performance, two models for greening
leases (a light green and dark green approach) based on work by the authors from Cardiff University
and the Australian government, as well as how tenanted buildings can be managed “more greenly”. It
then explores how green leases may penetrate the market.
Findings – The conventional relationship between the landlord (as building owner) and tenant (as
occupier) largely neglects environmental considerations. However, change may be rapid, disruptive
and challenging.
Originality/value – The paper lays out some of the issues, solutions, and pathways for the
commercial property industry.
Keywords Leasing, Carbon,Tenancy, Energy conservation
Paper type Conceptual paper
1. Introduction
Commercial and industrial buildings (excluding industrial processes) account for
around 18 per cent of UK carbon emissions (Building Research Establishment, 2005).
Pressure to reduce UK greenhouse gas emissions is increasing with framework
legislation like the Climate Change Bill, and detailed legislation relating to energy
performance certificates and display energy certificates. With a majority of commerc ial
property occupied by tenants, this means that thought needs to be given not only to
The current issue and full text archive of this journal is available at
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Greening of
commercial
leases
541
Received February 2008
Accepted July 2008
Journal of Property Investment &
Finance
Vol. 26 No. 6, 2008
pp. 541-551
qEmerald Group Publishing Limited
1463-578X
DOI 10.1108/14635780810908389
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