Hudson Pacific Properties earned the 2019 Green Lease Leader Silver designation for employing foundational policies and business practices that encourage reduced energy and water consumption in leased spaces. The company’s accomplishments were recognized by the Institute for Market Transformation (IMT) and the U.S. Department of Energy’s Better Buildings Alliance at the 2019 BOMA International Conference & Expo in Salt Lake City, Utah in June.
“Our green leasing efforts are an integral component of our sustainability strategy. We pride ourselves on delivering win-win solutions that drive favorable environmental and financial outcomes for both our corporate tenants and key stakeholders. We are proud to be among those to meet the Green Lease Leaders standard of excellence,” said Josh Hatfield, Executive Vice President, Operations.
A green lease agreement ensures that both landlords and tenants invest in energy efficiency and sustainability improvements, creating benefits and cost savings for both parties. An IMT study estimates that green leases have the potential to reduce utility bills by up to $0.51 per square foot, or by 11-22%, in office buildings.
Launched in 2014, Green Lease Leaders is the premiere real estate industry recognition program that shines a light on forward-thinking companies and practitioners who modernize their leases to spur collaborative action on energy efficiency and sustainability. This year, Green Lease Leaders represented portfolios totaling more than 500 million square feet, bringing the cumulative floor area of all Green Lease Leaders to over two billion square feet.
For more information on the Green Lease Leaders program and this year’s recipients, visit www.greenleaseleaders.com.