Economic climate may delay but not derail green leases (EUR)

A leading property lawyer has warned that a prevailing "mean not green" development mantra is misguided and is creating a false sense of complacency amongst some owners and occupiers. Pinsent Masons property partner Siobhan Cross speaking at Offices 08 on Tuesday told delegates: "Current climate may delay but will not derail "green issues" entering the landlord and tenant relationship".

Cross outlined a number of factors that will make sure that green leases will become increasingly common.

Her first point was "The Climate Change Bill" which includes government targets for 26% - 32% carbon emissions reduction by 2020 and 60% by 2050. "As commercial property accounts for 18% to 20% of emissions, the sector is unlikely to escape further legislation to encourage or enforce reductions in emissions," she said.

Following on from this the "Carbon Reduction Commitment" (which will be introduced by the Climate Change Bill) should be introduced in 2010. This is a mandatory carbon trading scheme which will affect large owners and occupiers. It is planned to apply to those with direct electricity bills of over

Related News