Your Next Lease...in black and white AND GREEN

Anyone betting against the staying power of the current going Green trend may want to think twice. The sacrosanct standard form lease document is starting to go green.

The Model Green Lease document which was unveiled this summer by a self-proclaimed "group of savy, commercial real estate professionals" claims to bring the "green building movement to the economic center of commercial real estate - the lease agreement..."

The new lease document claims that it:

1. Resolves the critical financial problem of the split-incentive that has hobbled the progress of greening existing office buildings and constructing new green buildings.
2. Is equitably balanced to meet the financial and operational needs of landlords, lenders, investors, and tenants.
3. Can Cut energy use by 30 to 50 percent over comparable office buildings (with appropriate construction and operating standards)

I can't speak to whether the lease can deliver on all of its promise, but one thing is certain: if the Model Green Lease goes into use on a routine basis, it will "lock-in" and commit the U.S. business community to go Green into the foreseable future.