Cliff Majersik, executive director at the Institute for Market Transformation (IMT), participated in a video interview at Nareit’s ESG Forum 2019 at the Hyatt Regency Coconut Point in Bonita Springs, Florida.
IMT is a national nonprofit organization focused on increasing energy efficiency in buildings.
Majersik discussed IMT’s mission to increase the demand among both businesses and governments for high-performing buildings, which he defines as energy efficient, green buildings that use less water. Majersik said IMT is working in 27 of the top 50 metro areas.
“We act as a catalyst to bring together those players to achieve things that they couldn’t achieve as well on their own,” he said.
Majersik also discussed the CleanEnergy DC act that he says will cut Washington, D.C.’s carbon emissions by 40 percent and includes a 100 percent renewable portfolio standard by 2032. Calling it “a model for other jurisdictions, states, and cities around the country,” he says the legislation’s innovative Building Energy Performance Standards are generating a lot of interest among building owners.
“It will require that all buildings either meet a minimum standard of energy performance or that they do something to improve their performance,” he added. Improvements could include operational changes or investing in existing buildings.
Majersik also discussed IMT’s role as a technical partner on Bloomberg Philanthropy’s American Cities Climate Challenge, noting that it includes mayoral level commitments in 25 cities.
“In order to meet these commitments, most of the cities are going to be looking at improving energy efficiency in their buildings,” he said. IMT’s role will be to bring together stakeholders, including building owners, city governments, banks, and utilities.
Majersik added green and high-performing leases are a win-win for landlords and tenants.
“You don’t have to think of it as a green lease—just think of it as a smarter lease where everyone comes out ahead,” he said.