Energy Benchmarking and
Disclosure in U.S. Cities
Cliff Majersik
Executive Director, Institute for Market Transformation
c...
2
Building Sector Greenhouse Gas Emissions
Percentage of Total Carbon Emissions
from Building Sector
75
75
74
70
65
62...
Link between Codes and Energy Performance Policy
Energy Codes
Construction
Operation
Renovation
time
Energy Performa...
Rating and disclosure drives demand and competition
6
Rental Premiums for Green Commercial
Buildings in the US
Jackson, 2009
Pivo & Fisher, 2010
Wiley et
al., 2010
Fuerst &...
Added Value of ENERGY STAR-Labeled
Commercial Buildings in the U.S. Market
Wiley et al 2010*
30%
Fuerst & McAllister 2009...
A Virtuous Cycle
When performance is
measured, performance improves.
When performance is measured and
reported back, the r...
U.S. Benchmarking Policy Landscape
Covered Properties
New York City
Buildings 50k SF+
~16,000 buildings, 2.5 billion SF
San Francisco
Buildings 10k SF+
~2...
NUMBER OF PROPERTIES COVERED ANNUALLY
Each
year, existing
policies will
impact more
than
51,000
properties
Boston
1,600...
BUILDING AREA (IN SQUARE FEET) COVERED ANNUALLY
Totaling
approximately
5.8 billion SF
of floor space in
major real estat...
Early Energy Intensity Findings in New York City
The poorest performing
buildings use 4 to 8
times the energy of the
high...
Takeaways
 Boldest action is in cities
- Federal outlook remains uncertain; state and local action to continue
 Leading...
Partners of Green Lease Library
http://www.greenleaselibrary.com/
Green Lease Leaders
Recognition Program
Green Lease Leaders is a recognition program
developed by
www.GreenLeaseLibrary.co...
The Data Access and Transparency Alliance (DATA) is a
collaborative effort led by the commercial real estate
industry and ...
Thank you!
Cliff Majersik
Executive Director, Institute for Market Transformation
Washington, DC
cliff@imt.org
@IMTCliff
International Policy Timeline
1997: Denmark requires energy
certification for homes and buildings
2004:
Norway,
part of
...
NAREIT 1.9.2014 US Benchmarking laws, Green building, Property Value and Green Leasing
NAREIT 1.9.2014 US Benchmarking laws, Green building, Property Value and Green Leasing
NAREIT 1.9.2014 US Benchmarking laws, Green building, Property Value and Green Leasing
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NAREIT 1.9.2014 US Benchmarking laws, Green building, Property Value and Green Leasing

Published on: Mar 3, 2016
Published in: Real Estate      Technology      Business      
Source: www.slideshare.net


Transcripts - NAREIT 1.9.2014 US Benchmarking laws, Green building, Property Value and Green Leasing

  • 1. Energy Benchmarking and Disclosure in U.S. Cities Cliff Majersik Executive Director, Institute for Market Transformation cliff@imt.org @IMTCliff
  • 2. 2
  • 3. Building Sector Greenhouse Gas Emissions Percentage of Total Carbon Emissions from Building Sector 75 75 74 70 65 62 51 38 US Chicago Dallas Minneapolis New York City Philadelphia Salt Lake City Washington, DC The building sector is the dominant user of energy and generator of CO2 emissions in the U.S. This is more true in cities due to density.
  • 4. Link between Codes and Energy Performance Policy Energy Codes Construction Operation Renovation time Energy Performance Policy Operation
  • 5. Rating and disclosure drives demand and competition
  • 6. 6
  • 7. Rental Premiums for Green Commercial Buildings in the US Jackson, 2009 Pivo & Fisher, 2010 Wiley et al., 2010 Fuerst & McAllister, 2011 Eicholtz, 2010
  • 8. Added Value of ENERGY STAR-Labeled Commercial Buildings in the U.S. Market Wiley et al 2010* 30% Fuerst & McAllister 2009/11 Jackson 2009 25% Pivo & Fischer 2010* AVERAGE PREMIUM Eicholtz et al 2010* 20% 15% 10% 5% 0% RENTAL PRICE SALE PRICE OCCUPANCY RATE
  • 9. A Virtuous Cycle When performance is measured, performance improves. When performance is measured and reported back, the rate of improvement accelerates. 9
  • 10. U.S. Benchmarking Policy Landscape
  • 11. Covered Properties New York City Buildings 50k SF+ ~16,000 buildings, 2.5 billion SF San Francisco Buildings 10k SF+ ~2,700 buildings, 205 million SF
  • 12. NUMBER OF PROPERTIES COVERED ANNUALLY Each year, existing policies will impact more than 51,000 properties Boston 1,600 Chicago 3,500 New York City 15,300 Philadelphia 1,400 Seattle 3,600 Washington State 4,600 Austin 2,800 San Francisco 2,700 Minneapolis 625 Washington, DC 2,000 California 13,600 Source: IMT
  • 13. BUILDING AREA (IN SQUARE FEET) COVERED ANNUALLY Totaling approximately 5.8 billion SF of floor space in major real estate markets Chicago 900 million SF Boston 250 million SF Philadelphia 244.5 million SF Seattle 295 million SF Washington State 247 million SF Austin 113 million SF California 347 million SF Minneapolis 110 million SF Washington, DC 357 million SF New York City 2.8 billion SF San Francisco 205 million SF Source: IMT
  • 14. Early Energy Intensity Findings in New York City The poorest performing buildings use 4 to 8 times the energy of the highest performing buildings. By improving the poor performers citywide energy reductions of 18% to 31% could be achieved.
  • 15. Takeaways  Boldest action is in cities - Federal outlook remains uncertain; state and local action to continue  Leading cities are looking beyond disclosure - Integrated policy frameworks emerging with focus on poor performers
  • 16. Partners of Green Lease Library http://www.greenleaselibrary.com/
  • 17. Green Lease Leaders Recognition Program Green Lease Leaders is a recognition program developed by www.GreenLeaseLibrary.com, with support from the Institute for Market Transformation (IMT) and the Department of Energy’s Better Buildings Alliance. The Green Lease Leader designation recognizes companies or broker teams that have successfully implemented green lease language into their new or existing leases. The website and application process will be launching this January 2014.
  • 18. The Data Access and Transparency Alliance (DATA) is a collaborative effort led by the commercial real estate industry and green building organizations to provide building operators with energy consumption data to advance energy-efficiency and energy cost savings in buildings. More information can be found: http://www.energydataalliance.org/
  • 19. Thank you! Cliff Majersik Executive Director, Institute for Market Transformation Washington, DC cliff@imt.org @IMTCliff
  • 20. International Policy Timeline 1997: Denmark requires energy certification for homes and buildings 2004: Norway, part of the European Economic Area, formally agrees to implement the EPBD and building certification requirements 2007: Brazil adopts voluntary building rating regulations that become mandatory in 2012 2010: EPBD Recast The EPBD is recast to strengthen the energy performance requirements for all EU Member States 1999: Australian Capital Territory requires energy certification for homes 1996 1997 1998 1999 2000 2001 2002 2002: The European Parliament adopts the Energy Performance of Buildings Directive (EPBD), requiring all EU Member States to establish mandatory energy certification schemes for homes and buildings 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2008: China adopts a mandatory energy rating program for government buildings. 2008: Turkey adopts a mandatory certification scheme 2010: Australia enacts mandatory energy rating for commercial structures.

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