Firm honored as a Platinum and Gold Green Lease Leader and Better Practice award winner at the Department of Energy’s Better Buildings, Better Plants Summit.
Lendlease, a global integrated real estate group, announced today it has been recognized as a 2023 Platinum Green Lease Leader, the highest level of recognition awarded by the Institute for Market Transformation (IMT) and the U.S. Department of Energy’s (DOE) Better Buildings Initiative. Lendlease was also recognized as a 2023 Gold Green Lease Leader in its military housing business and for its excellence as a tenant in prioritizing sustainability commitments when negotiating with landlords of the buildings where its various offices are housed. Additionally, the firm received a Better Practice Award from the U.S. Department of Energy’s Better Buildings Initiative for energy efficiency results in two military housing communities in Hawaii.
Green Lease Leaders
Launched in 2014, Green Lease Leaders sets the industry standard for what constitutes a green lease. Each year, the program recognizes landlords and tenants who modernize their leases to spur collaboration on energy efficiency, decarbonization, cost savings, health and a range of other environmental and social issues. The awards were announced earlier this week during the Better Buildings, Better Plants Summit in Washington, D.C.
To receive this recognition, Lendlease demonstrated success in implementing energy efficiency and sustainability best practices such as utility data tracking and sharing, cost recovery for capital improvements and sustainability training across its portfolio of multifamily properties. Efforts to reduce embodied carbon and improve water efficiency and waste reduction also drove results.
“By remaining focused on our industry-leading sustainability commitment, which includes engaging with residents to encourage their active participation in energy conservation efforts, we have been able to achieve amazing results across our portfolio,” said Sara Neff, Head of Sustainability, US, at Lendlease. “Investing in green initiatives is not only good for the environment, but it also resonates with a range of stakeholders, including our investors, our employees and our customers. We are honored to have our efforts recognized by DOE.”
IMT estimates that green leases can help reduce utility bills by up to approximately 50 cents per square foot (22%) in U.S. office buildings alone. If all leased office buildings executed green leases, the market could reap over $3 billion in annual cost savings.
Better Practice Award
In a separate category, Lendlease’s Communities business, which manages one of the largest military housing portfolios in the U.S., was also honored by the DOE’s Better Buildings Alliance with a Better Practice award for energy efficiencies achieved at two of its largest privatized military housing communities, Island Palm Communities (IPC) and Hickam Communities (HC) in Hawaii. In a joint venture with energy services company Ameresco, Lendlease created holistic Energy Service Agreements (ESA) to address critical infrastructure challenges, stabilize utility consumption costs, lower maintenance and capital repair and replacement costs, and provide health and well-being benefits to residents without requiring an out-of-pocket capital investment upfront from IPC or HC.
“The Better Practice awards highlight unique efforts to make meaningful headway in reducing energy, water, waste and greenhouse gas emissions,” said Carolyn Snyder, Deputy Assistant Secretary for Energy Efficiency at the U.S. Department of Energy.
DOE’s Better Buildings Alliance is a market-based partnership where organizations pursue ambitious energy, waste, water, and/or greenhouse gas (GHG) reduction goals. They share their real-world pathways for achieving significant savings throughout their portfolios. In doing so, they inspire others, demonstrate strategies to overcome common barriers and catalyze significant progress in energy efficiency and decarbonization.
Lendlease (www.lendlease.com) is a globally integrated real estate group with operations in Australia, Asia, Europe and the United States. We create places where communities thrive. Headquartered in Sydney, Australia and listed on the Australian Securities Exchange (ASX:LLC), Lendlease has approximately 7,800 employees globally. Our core capabilities are reflected in our operating segments of Investments, Development and Construction. The combination of these three segments provides us with a sustainable competitive advantage in delivering innovative integrated solutions for our customers.
Lendlease’s Communities business manages one of the largest military housing portfolios in the U.S. and is the Army’s exclusive partner for privatized lodging. With a focus on creating sustainable value, Lendlease creates communities that regenerate our environment, enrich people’s lives and foster economic growth. Lendlease has worked extensively with the Department of Defense through the Military Housing Privatization Initiative (MHPI), a program that provides for the transfer of military housing assets to private sector companies. With over 40,000 residential units, 192 apartments and more than 12,000 hotel rooms in its portfolio, Lendlease will finance, develop, build, renovate and operate these sites for at least 50 years.