Shui On Workx Launches "Deep" Green Lease, a Contractually Binding Sustainable Lease in Collaboration with the USGBC

Shui On Workx, in collaboration with the U.S. Green Building Council (USGBC), has launched the "Deep" Green Lease, a contractually binding sustainable lease that promotes energy savings and introduces financial incentives for tenants. This innovative initiative is the latest milestone in Shui On Workx's efforts to reduce carbon emissions and foster sustainability in commercial real estate. The "Deep" Green Lease marks a significant shift from voluntary green initiatives, providing a standardized framework for sustainable leasing practices.

Key Takeaways:

• The "Deep" Green Lease is a contractually binding sustainable lease that introduces financial incentives for tenants, promoting energy savings and potentially exploring water reduction and waste recycling in the future.
• The lease is the result of a collaboration between Shui On Workx and the USGBC, aiming to reduce energy consumption and create a sustainable community.
• According to estimates, a 10% reduction in HVAC energy consumption through the "Deep" Green Lease could save the equivalent of planting approximately 300,000 trees or saving 1.5 million pairs of disposable chopsticks.
• The "Deep" Green Lease is the latest initiative in Shui On Workx's 5C Sustainable Development Strategy, focusing on creating a sustainable community through environmentally conscious leasing practices.
• The partnership between Shui On Workx and LEED will focus mainly on energy consumption reduction of office units, with the goal of setting a new benchmark for the industry in terms of collaborative carbon reduction.
• The USGBC has praised Shui On Workx for its commitment to sustainability, calling it a "pioneer of sustainability" in the industry.

Statistics:

• 10% reduction in HVAC energy consumption: equivalent to planting 300,000 trees or saving 1.5 million pairs of disposable chopsticks.
• 20 years of asset management experience: accumulated practical insights and comprehensive practical experience in the industry.
• 5C Sustainable Development Strategy: a long-term commitment to sustainability, encompassing five core areas: carbon, city, community, culture, and commercial development.

Sources:

• PR Newswire, "Shui On Workx Launches 'Deep' Green Lease, a Contractually Binding Sustainable Lease" (November 14, 2022)
• U.S. Green Building Council (USGBC) [No specific date mentioned in the text, but the source is mentioned as the organization involved in the collaboration.]