Friday, April 16, 2010

How to Underwrite Sustainable Properties

The second publication in BEPN's Critical Issues Series, Value Beyond Cost Savings: How to Underwrite Sustainable Properties, will be published and available at no cost (thanks to the paper's sponsor the Green Building Finance Consortium) to all BEPN registered subscribers for download on Tuesday, April 20, 2010.

The publication presents the key findings and conclusions regarding the valuation and underwriting of sustainable properties from three years of independent research by the Green Building Finance Consortium. It is designed to assist private investors and their service providers in making better financially-based sustainable property investment decisions. The book addresses sustainable property investment decision-making, measuring and evaluating a property's sustainability, establishing the incremental value of sustainable investments (and introduces a novel sustainable property performance framework that directly supports financial analysis, valuation and underwriting), identifies a six-step process for sustainable property financial analysis (including checklists and tools to assist in this analysis), and outlines a process for conducting underwriting/due diligence on sustainable property investments. The book is supported by ten appendices that provide further elaboration and examples.

BEPN's Critical Issues Series focuses on important business issues related to green buildings and sustainable development that can potentially have significant impact on the commercial real estate industry. To promote discussion, you are encouraged to post on this blog (below) all comments and feedback on the book.

Friday, April 9, 2010

The Formidable Challenge of Building Energy Performance Benchmarking

The first white paper in BEPN's Critical Issues Series, The Formidable Challenge of Building Energy Performance Benchmarking, will be published and available at no cost (thanks to the paper's sponsors, Sustainable Options and Sustainable Real Estate Solutions) to all BEPN registered subscribers for download on Tuesday, April 13, 2010. BEPN's Critical Issues Series focuses on important business issues related to green buildings and sustainable development that can potentially have significant impact on the commercial real estate industry. To promote discussion, you are encouraged to post on this blog (below) all comments and feedback on the paper.

Monday, April 5, 2010

Another State Raids Carbon Auction Funds

New Jersey became the latest state to raid money designed to support clean energy programs. This was first raised as a serious issue in my December 17, 2009 blog when New York did this.
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New Jersey is part of the 10-state Regional Greenhouse Gas Initiative (RGGI) in the Northeast. Money the state receives from the quarterly auction of permits allowing power plants to emit carbon dioxide was supposed to go to programs promoting clean energy and energy efficiency. However, New Jersey's new governor, Chris Christie, recently decided to move $65 million of these funds to its General Fund to help fill a hugh budget deficit. When New York did this late last year, they moved $90 million to its General Fund to help ease the state's deficit.
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With many states in dire financial straits and experiencing significant budget deficits as a result of the recession, it is not surprising that such raiding of these "convenient" funds takes place. It also establishes quite clearly where the priority lies in these states.