Green commercial property initiative launched - commercial mortgages

26 February 2008

In news which may interest those with commercial mortgages, a new scheme has been launched to cut the level of emissions generated by commercial office buildings.

The programme, which involves a voluntary code set up by Investment Property Databank (IDP) and backed by the Confederation of British Industry and the Royal institution of Chartered Surveyors plus companies such as Barclays and BP, the Green Building Press reports.

It is intended to lower emissions, waste production and water wastage.

Director of IDP Occupiers Christopher Hedley said: "We want to create a measurement framework simple enough that companies can take it to the management and say: "This is how we need to improve."

He argued that the alternative certification schemes presently available are too complex.

Those who make their commercial property more eco-friendly may find it can attract a higher price when sold on to green-conscious buyers.

Earlier this month, the growing interest in green property was emphasised when investment bank Climate Change Capital launched a green property fund to invest in eco-friendly property, Property Week reported.