Up to 42 percent of occupiers and large developers in the Asia Pacific region have signed leases that include green clauses. Green leases are agreements between landlords and tenants that set out environmental objectives on how the building can be improved, managed and occupied sustainably.
There are three variations or shades of green leases: light green provisions that are not legally binding, medium green targets and action plans that do not require legal enforcement and legally binding dark green requirements.
Current motivations to sign green leases included achieving savings through energy efficiency, meeting organisation sustainability targets, improving the working environment for employees, enhancing corporate brand image and accelerating Net Zero carbon ambitions.
Data sharing, energy efficiency and waste management are the top clauses currently included in green leases. But organisations note that increased rental costs, limited property availability and complex administration are current barriers to green lease adoption.
