European legal and tax services provider CMS has drawn up the first standard green lease clauses applicable across Europe.
European legal and tax services provider CMS has drawn up the first standard green lease clauses applicable across Europe.
CMS said that the 20 clauses, which are accessible as an e-guide, will simplify the deployment of green leases across one or more European countries.
The initiative was unveiled at the MIPIM international real estate trade fair in Cannes.
'The real estate sector sees the benefit of green leases. However, faced with complex local legislation, it struggles to achieve a consistent implementation,' said Dirk Rodewoldt, partner at CMS Germany. 'The situation in Europe is fundamentally still as it was in September 2011. Green leases are on the increase and the trend is for standard convergence.'
CMS reviewed the contractual practice, then formulated 20 standard clauses which are applicable across Europe, with national or regional variations as necessary. 'We looked at such aspects as the sustainable management of the building by landlord and tenant, economical use of energy, special green features for operational costs and service charges and structural alternations,' said Arnout Scholten, partner at CMS in the Netherlands.
