Pinsents, Eversheds and Nabarro advise on 'green lease toolkit'
Nabarro, Eversheds and Pinsent Masons have advised on a new initiative to help companies reduce their carbon dioxide emissions.The trio have teamed up to advise the Better Buildings Partnership (BBP) - a group of property companies brought together by the Mayor of London and the London Development Agency (LDA) including Land Securities, British Land and GE Real Estate - on the creation of a green lease toolkit.
April 22, 2009 at 11:09 PM
2 minute read
Nabarro, Eversheds and Pinsent Masons have advised on a new initiative to help companies reduce their carbon dioxide emissions.
The trio have teamed up to advise the Better Buildings Partnership (BBP) – a group of property companies brought together by the Mayor of London and the London Development Agency (LDA) including Land Securities, British Land and GE Real Estate – on the creation of a green lease toolkit.
The kit, which was developed to help meet the Mayor's target of cutting CO2 emissions in the City by 60% by 2025, outlines model agreements and best practice guidelines for owners and occupiers to agree carbon, energy, waste and water reduction strategies.
The three firms advised BBP on the production of model green lease clauses and a memorandum of understanding in relation to green leases. Nabarro property finance partner Graham Lust led the negotiations along with Pinsents property litigation partner Siobhan Cross and Eversheds solicitor Becky Clissmann.
The toolkit will be trialled for the next six months by BBP members. Businesses already signed up to green leases include law firms Mayer Brown and Reed Smith, as well as Costa Coffee, WH Smith and GE Real Estate.
Lust said: "From the legal perspective, the green leases working group was doing something pretty unusual. Major landlords do not normally get together to agree best practice lease wording, nor do leases tend to encourage landlords and tenants to work together.
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