Cliff Majersik, executive director at the Institute for Market Transformation (IMT), joined REIT.com for a video interview at NAREIT’s 2017 Leader in the Light Working Forum at the Hilton Austin in Austin, Texas.
Majersik discussed the latest regulatory developments that sustainability leaders should monitor.
“2016 was another big year for benchmarking and transparency law,” Majersik said. He noted that in December alone, four cities adopted new laws requiring buildings of a certain size to be rated by the EnergyStar benchmarking system and for the score to be made public.
Majersik also addressed some of the issues preventing real estate executives from fully unlocking a building’s energy savings potential. “There are a host of challenges,” he noted.
Meanwhile, Majersik commented on a recent IMT report looking at the increasing number of benchmarking and transparency requirements being placed on the multifamily sector. He added that IMT has also launched a landlord-tenant energy partnership that will focus on issues including green leasing, green site selection and energy efficient tenant buildout guidelines.