The Real Estate Roundtable finds common ground with President Bush's new National Energy Policy, encouraging the development and purchase of innovative energy efficiency technologies, and the goals of their members -America's leading real estate owners, advisors, builders, lenders, managers, and leaders of major national real estate trade organizations.
The Roundtable has been working in partnership with the U.S. Environmental Protection Agency (EPA) and the Department of Energy (DOE) to encourage broad real estate industry commitment to energy efficient "green building" principles and technologies. Through participation in the federal Energy Star Building Label program - which recognizes buildings that attain peak energy performance - property owners are reducing operating costs while increasing tenant comfort and asset value. Over 20 billion square feet of commercial space have earned the federal Energy Star label --the government's highest symbol for energy excellence -- over the past two years.
In a letter to President George W. Bush, Jeffrey D. DeBoer, President and Chief Operating Officer of the Real Estate Roundtable, expressed support for a forward-thinking national energy policy. Bush's report acknowledges that there are significant opportunities to improve the energy efficiency of buildings and homes through technologies and better practices.
DeBoer noted in his letter to the president, "Our industry helped launch the Energy Star Building Label program and today over three-quarters of the largest office real estate investment trusts participate in the Energy Star Building Program. EPA has estimated that if all commercial buildings took the straight forward voluntary measures recommended by that program, the nation would save $130 billion in energy costs in just 15 years while also reducing air pollutants and emissions associated with the production of the energy."
Federal lawmakers are also urged to support bipartisan legislation (S. 207, H.R. 778) sponsored by Senators Robert C. Smith (R-NH) and Dianne Feinstein (D-CA) and Reps. Randy Cunningham (R-CA) and Edward J. Markey (D-MA) that would provide incentives for energy efficient investments in new and existing buildings. In a letter of support for the legislation, The Real Estate Roundtable said these incentives "promise to advance the national interest by ensuring our building stock-residential, commercial and industrial-incorporates cutting-edge energy efficiency technologies."
The Real Estate Roundtable is the organization where leaders of the nation's top public and privately held real estate ownership, development, lending and management firms work together with the leaders of major national real estate trade associations to jointly address key national policy issues relating to real estate and the overall economy. Collectively, Roundtable members hold portfolios containing over 2.5 billion square feet of developed property valued at more than $250 billion. Participating trade associations represent more than 1 million people involved in virtually every aspect of the real estate business.
Pat Rioux
