Advocacy Update: BOMA Springs into Action with Congress
Wednesday, May 18, 2022
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Posted by: Christine Miclat
Article from BOMA International | | May 10, 2022 | | Dear colleagues, At the heart of any democracy is the idea that citizens participate in the political process. The concept is based on the idea that those who are affected by a decision have a right to be involved in the decision-making process. BOMA International is here to serve our industry as the voice of commercial real estate, and we are working on a number of important issues and programs to promote the industry and shape public policy in positive ways. In 2022, BOMA International will launch a carbon reduction baseline challenge and a carbon reduction strategy resource center. We have introduced federal legislation that would provide capital to fund energy efficiency improvements. We have partnered with various federal agencies to support good public policy, including the U.S. Environmental Protection Agency, which once again named BOMA International as an ENERGY STAR® Partner of the Year for Sustained Excellence last week. At the same time, we are guarding against government action that could harm our industry, such as the proposed Security and Exchange Commission proposed rule on environmental, sustainability and governance (ESG) reporting. As we move forward, your engagement on the issues and programs we are advocating for is critical. Please reach out to any of the Advocacy staff members with questions, concerns or ideas as we continue to represent the interests of commercial real estate across the globe. | | Don Davis, Esq. Vice President of Advocacy & Building Codes | | | | Legislative Update: 117th Congress, Second Session In 2021, BOMA International advanced a number of significant legislatives proposals, including protections for key industry tax programs such as carried interest and 1031 “like-kind” exchanges. In 2022, we are continuing to keep the pressure on Congress and have succeeded in moving forward workforce development initiatives through the U.S. Department of Labor; received significant interest and participation in our new carbon reduction initiative; and introduced legislation to assist commercial real estate in funding energy efficiency improvements with the support of Representatives Jason Crow (D-Colo.) and Don Bacon (R-Neb.). However, there’s still work to be done as we continue to raise the profile of the industry on Capitol Hill and throughout the administration. The legislative outlook below outlines where some of the key policy priorities stand and what can be expected as we move through the rest of the 117th Congress. H.R. 6921: Small Business Energy Loan Enhancement Act We continue to hold meeting with policymakers on both sides of the aisle as we grow the number of co-sponsors for this bill. To date, we have held more than 45 meetings with lawmakers and their staffs who have been supportive of the legislation. To amplify our advocacy efforts, BOMA is leading a coalition of industry associations that represents millions of individuals across the country. Fiscal Year 2023 Appropriations BOMA International, along with the Building Resilient Action Coalition (BRAC), is ramping up our efforts to secure funding for critical industry programs in the resiliency and disaster mitigation spaces. The coalition has drafted letters to congressional leadership and the U.S. Office of Management and Budget requesting funding for the Federal Emergency Management Agency’s Building Resilient Infrastructure and Communities (BRIC) program. Our asks to these policymakers include increased funding of $500 million for the BRIC program, and fully funded FEMA capitalization grants established by the STORM Act at a minimum of $100 million. | | Capitol Canary Tutorial Webinars Still Available As we announced in last month’s Advocacy Update, BOMA International has invested in a new grassroots engagement platform, Capitol Canary, which will allow our federal advocacy team, as well as our BOMA local associations and state coalitions, to build advocacy campaigns and connect our membership with their policymakers. Many BAEs and local associations have scheduled tutorial webinars over the past few weeks, and we are thrilled to see such a positive response to the roll out. If your local association is interested in learning more about how Capitol Canary can be an asset to your advocacy efforts, we will be hosting two more tutorial webinar sessions over the next few weeks. Please reach out to BOMA International’s Director of Federal Affairs, Pearce Crosland, at pcrosland@boma.org if you would like to join one of these sessions or have any questions about the platform. Capitol Canary Tutorial Webinar #1 Tuesday, May 17, 2pm Eastern Capitol Canary Tutorial Webinar #2 Thursday, May 26, 2pm Eastern | | Securities and Exchange Commission Climate Reporting Requirements The U.S. Securities and Exchange Commission (SEC) has released a notice of proposed rulemaking that would require public companies to disclose information about climate-related risks, including requirements for reporting of a registrant’s greenhouse gas (carbon) emissions. In addition, certain climate-related financial metrics would be required in a registrant’s audited financial statements. The SEC believes that the regulation is necessary because climate impact is a commonly used metric to assess a registrant’s exposure to such risks, as well as a metric that guides individual and institutional investors. BOMA International is developing comments that raise the issue of climate expertise within the SEC, and we are also working with other stakeholders to shape the final outcome of any rule. The full notice can be found online here. For more information, contact Don Davis at ddavis@boma.org. | | BOMA Receives 15th ENERGY STAR® Partner of the Year Award BOMA International continues to be recognized for the outstanding sustainability efforts of BOMA members and the commercial real estate industry. Last week, BOMA International received the 2022 ENERGY STAR® Partner of the Year Award and, once again, BOMA also received special recognition for “Sustained Excellence,” celebrating our ongoing accomplishments over many years. BOMA International now has received a total of 15 ENERGY STAR awards, making it the most decorated commercial real estate association. This year’s award cited our leadership in navigating sustainability challenges related to the COVID-19 pandemic, as well as the formulation of our soon-to-be-released carbon reduction initiative. Congratulations are also in order for the many BOMA member companies who were individually honored with 2022 ENERGY STAR awards for their sustainability efforts. The full list of awardees can be found online. And read more about BOMA’s latest ENERGY STAR award win here. | | ENERGY STAR Launches Building Emissions Calculator ENERGY STAR® is adding another significant new tool to its arsenal, as it recently released its highly anticipated Portfolio Manager® Building Emissions Calculator. You can now calculate your building’s greenhouse gas (GHG) emissions, evaluate emissions under local building performance standards and forecast the impact of changes in building efficiency and energy procurement. The tool can estimate historical, current and future annual emissions resulting from your building’s energy use. Calculate your GHG emissions using factors of your choosing, including national, regional, supplier-provider or local where applicable. Estimate emissions for a single building, a set of buildings or an entire portfolio. If you already use Portfolio Manager to track energy use, you can pull your data directly into the Building Emissions Calculator, or data can be entered manually. The Building Emissions Calculator is now live, and ENERGY STAR also has developed a comprehensive user guide. | | BOMAPAC FUN-draising BOMAPAC will be hosting some exciting Nashville-themed fundraisers next month during the BOMA International Conference & Expo. On Sunday, June 26, at 9pm, there will be a special tractor tour around Nashville. The tour will be filled on a first-come, first-served basis with a suggested contribution of $250. There are only 40 seats available, so RSVP early to BOMAPAC Manager Anne Deere at adeere@boma.org to save your seat! Other BOMAPAC contribution thank you gifts that will be available in Music City include Nashville hot sauce bottles, blue BOMA jackets, Yetis and golf balls. If your BOMA local association hasn’t hosted a fundraiser this year and you would like additional information about the activities of BOMAPAC or how your local association can get involved, reach out to Anne Deere at adeere@boma.org. Additionally, a toolkit is available on the BOMAPAC website that offers more information on fundraising ideas and guidelines. | | |
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