Advocacy Update - August 2023

Is Your Lease An Obstacle To Building Performance Requirements and ESG Goals?

 
The linked blog below reviews the importance of examining and updating your leases in response to the Washington State Clean Building Act and Seattle’s upcoming BPS – Building Performance Standards

Blog: Building Emissions Performance

In March, BOMA Seattle King County hosted a well-attended full day seminar on “Compliance with the State Clean Building Standard and City of Seattle Proposed Building Performance Standard, Energy Code, Financing and Leasing.” Among the 12 knowledgeable speakers that day were Erik Jennings with Pacifica Law Group (erik.jennings@pacificalawgroup.com) and Nicole DeNamur with Sustainable Strategies PLLC (nicole@sustainablestrategiespllc.com).

Nicole and Erik have authored a new blog post that speaks to the following:
 
Building Performance Standards (BPS) – which set performance or emissions standards that buildings must meet over time – have completely changed the regulatory context for existing buildings. Colliding with this new regulatory framework is the steadily increasing focus on Environmental, Social, and Governance (ESG) metrics and reporting frameworks. In this new landscape, lease language should be a key part of every risk management, compliance, and ESG strategy. Leases also present an opportunity for owners to engage tenants in a dialogue regarding innovative and broader social goals that benefit the communities where assets are located.

This blog post outlines key obstacles, innovations, and opportunities to update lease language to align with BPS and ESG goals. This article expands on their presentation to BOMA and is informative and thought provoking. You will find it valuable. If you would like to see BOMA Seattle King County organize an in-person seminar in the near future, contact us.

Note: Click here for access to a BOMA commissioned study report - 20 building types vary energy use portfolios - Compliance and overlap.
 
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