WICKED insights into the role of green leases

Journal article

Improving the energy performance of existing rented commercial buildings is a key part of meeting the UK’s carbon reduction targets. In 2008, a special issue of this journal highlighted the role of commercial leases in influencing environmental and energy management of buildings, and the emergence of “green leases” as a tool to support more effective environmental performance, suggesting that a “Green Lease may well become a benchmark for the successful letting of property”.

This article explores the way in which green leases have evolved since then, using evidence from the Oxford University-based “WICKED” research project that investigates energy management in the UK retail sector. Drawing on evidence from interviews with industry participants (landlords, tenants, property management companies, lawyers and industry associations) as well as analysis of various documents (toolkits, model leases, and company reports) the article considers the drivers for adopting (or resisting) green leases, the more common clauses found within green leases, and their potential impact. Although the WICKED project has focused on the retail sector, which exhibits particular complexity, many findings are more broadly applicable, with interviewees (particularly property companies) commenting on issues relevant to their wider portfolios.

Authors: Patrick, J; Bright, S

• Publication status: Published
• Peer review status: Peer reviewed
• Publisher: Sweet and Maxwell
• Journal: Conveyancer and Property Lawyer
• Volume: 2016
• Issue: 4
• Pages: 264-285
• Publication date: 2016-06-01
• Acceptance date: 2017-09-29
• EISSN: 0010-8200