WASHINGTON, DC--(Marketwire - February 3, 2011) - The Building Owners and Managers Association (BOMA) International commends the Obama Administration's Better Building Initiative, a new program that aims to make commercial buildings 20 percent more energy efficient over the next decade through a series of incentives to upgrade offices, stores, schools and other municipal buildings, universities, hospitals, and other commercial buildings.
The new program includes a number of initiatives designed to increase energy efficiency in commercial buildings, including improved tax incentives, more financing opportunities for commercial retrofits and a training program for commercial building technology workers. The program also includes a "Race to Green" initiative that will offer competitive grants for state and municipal governments that streamline standards, encourage efficiency upgrades and attract private sector investment.
"We applaud President Obama's new energy policy to improve energy efficiency in commercial, multi-family and institutional buildings," said BOMA International Chair Ray H. Mackey, Jr., RPA, CPM, CCIM, partner and chief operating officer, Stream Realty Partners, L.P. "The initiative includes the critical business incentives, such as the commercial building tax credit and loan guarantees, that are key to meeting the energy efficiency goals of the plan. BOMA International has been a leader in energy efficiency for years, launching the 7-Point Challenge in 2007 which asked members to reduce energy consumption by 30 percent by 2012. To date, organizations representing three billion square feet of office space have signed onto the Challenge and are transforming the marketplace."
The Better Buildings Initiative dovetails with BOMA International's long-term commitment to helping building owners and managers reduce energy use by promoting energy management practices through a variety of platforms. In addition to the 7-Point Challenge, BOMA developed the BOMA Energy Efficiency Program (BEEP), an innovative operational excellence program that teaches commercial real estate professionals how to reduce energy consumption and costs with proven no- and low-cost strategies for optimizing equipment, people and practices.
BOMA published the industry's first green lease guide, which includes enforceable lease language to ensure tenants comply with a building's green priorities. BOMA also partnered with the Clinton Climate Initiative to release the groundbreaking BOMA Energy Performance Contract (BEPC) model, which allows building owners to perform major energy retrofits to existing buildings by removing key barriers. Just this month, BOMA International launched BOMA STARS, a new campaign to encourage its members to benchmark their portfolio's energy management data using the U.S. Environmental Protection Agency's ENERGY STAR® Portfolio Manager. BOMA has been a long-time supporter of ENERGY STAR benchmarking. It is one of the 7-Point Challenge strategies and a prerequisite of BOMA's 360 Performance Program building designation. BOMA was first recognized with the ENERGY STAR® Partner of the Year Award in 2007 and has received the award for the past four years, the only real estate association to do so. In 2009, BOMA received EPA's highest honor, the Climate Protection Award.
About BOMA International
The Building Owners and Managers Association (BOMA) International is an international federation of more than 100 local associations and affiliated organizations. Founded in 1907, its 16,500-plus members own or manage more than nine billion square feet of commercial properties. BOMA International's mission is to enhance the human, intellectual and physical assets of the commercial real estate industry through advocacy, education, research, standards and information. On the Web at www.boma.org.