German listed company IVG Immobilien said nearly 25% of its new rental agreements included 'green leases' in 2012.
German listed company IVG Immobilien said nearly 25% of its new rental agreements included 'green leases' in 2012.
Green clauses commit lessees to sustainable use and lessors to sustainable management of the property.
'For many tenants, the protection of ecological resources has become an important factor when renting space. Lessors have to be able to answer this,' said Thomas Beyerle, head of corporate sustainability and research at IVG.
A pilot project by the IVG branch in Hamburg in January and February 2012 showed that lessees reacted positively to green leases for new and subsequent letting. 'Many companies are conscious of their obligation to act sustainably and want to use their space in an environmentally aware manner,' said Peter Forster, chairman of IVG Asset Management. 'The green clauses in the rental agreements were therefore very well received.'
Building on the results of the pilot project, IVG has therefore been including green clauses as standard in contracts for new leases and lease extensions throughout Germany since March 2012. In total, IVG has now let about 76,000 m2 of space under green leases.
IVG is striving to expand the proportion of green leases signed. 'We are only just getting started, and want to achieve a ratio well above 50%,' Forster said.
Click on the link below to read IVG's latest research on green leases
