Real Estate Roundtable Supports Senate Bill to Encourage Greater Energy Efficiency by Tenants in Commercial Buildings

"Tenant Star" Unites Commercial Landlords with Tenants to Increase Energy Efficiency

News provided by

Jun 20, 2013, 01:12 ET

WASHINGTON, June 20, 2013 /PRNewswire-USNewswire/ -- Recognizing the major impact that building occupants have on energy usage throughout the commercial real estate sector, The Real Estate Roundtable supports bipartisan Senate legislation (S.1191) introduced yesterday that would align building landlords and their tenants toward a mutual goal of reducing U.S. energy consumption.

(Logo: http://photos.prnewswire.com/prnh/20130520/DC17541)

The "Better Buildings Act" (S. 1191) – introduced in the Senate yesterday by Michael Bennet (D-CO) and Kelly Ayotte (R-NH) – takes a market-driven, "best practices" approach to recognize landlords and tenants who cooperate to achieve high energy performance in leased commercial building spaces. A companion bill (H.R. 2126) was introduced last month in the House of Representatives by Congressmen David McKinley (R-WV) and Peter Welch (D-VT).

"Senators Bennet and Ayotte have championed innovative, transformative energy policy through their 'Better Buildings Act' and its 'Tenant Star' provisions," said Jeffrey D. DeBoer, President and CEO of The Real Estate Roundtable. "Tenants consume 50% or more of the energy used by commercial buildings, so they should be recognized for making smart choices in high-performance design and operations within leased spaces they control. This bill is a major step forward to synchronize commercial landlords and tenants toward a common goal of lowering energy use in built environments across our nation."

A section of S. 1191 – known as "Tenant Star" – would allow commercial tenants to certify their leased spaces for optimal energy efficiency, capitalizing on the widely successfully ENERGY STAR label for whole-buildings offered by the U.S. Environmental Protection Agency ("EPA") that has been in place since 1999. Buildings with the voluntary ENERGY STAR label are found in all 50 states. In 2012, more than 20,000 ENERGY STAR-certified buildings across America helped save more than $2.7 billion in annual utility bills, according to EPA.

"Energy consumption in buildings must be tackled from both the top-down and bottom-up," said DeBoer. "By utilizing a new 'Tenant Star' recognition, commercial real estate owners and their tenants can cooperate to design, construct and operate certified spaces within ENERGY STAR buildings and thereby transform energy efficiency initiatives in markets throughout America."

For more information about The Real Estate Roundtable's pro-growth policy agenda, visit http://www.rer.org/Advocacy/2013_Policy_Agenda.aspx

About The Real Estate Roundtable

The Real Estate Roundtable brings together leaders of the nation's publicly-held and privately owned real estate ownership, development, lending and management firms with the leaders of national real estate trade associations to jointly address key national policy issues relating to real estate and the overall economy. Collectively, Roundtable members' portfolios contain over 5 billion square feet of office, retail and industrial properties; over 1.5 million apartment units; and in excess of 1.3 million hotel rooms. Participating trade associations represent more than 1.5 million people involved in virtually every aspect of the real estate business.

www.rer.org

SOURCE The Real Estate Roundtable