Energy Disclosure Laws - A Nationwide Trend in Transparency

With more information we make better decisions, right?  Well, that’s the idea behind energy disclosure requirements.  States and municipalities are increasingly adopting energy disclosure laws, requiring commercial building owners to report the energy efficiency of their buildings annually and pre-transaction.  Some laws also require energy audits, retrocommissioning and/or retrofits.  Energy disclosure laws vary from public disclosure (New York City) to private disclosure (California).

I recently had the opportunity to attend the Urban Land Institute’s Policy and Practice Forum in at the Merchandise Mart in Chicago: The New Transparency in Real Estate – Sustainability Metrics, Asset Performance, and Public Disclosure.  There I had a chance to hear from a number of leading experts in the fields of sustainability and energy efficiency, as well as tour a number of leading sustainability buildings in Chicago, including the Merchandise Mart owned by Vornado Realty Trust and 300 North LaSalle Street owned by Hines – both amazing buildings leading the sustainability forefront.

Energy efficiency and disclosure – who’s on board?

What stood out to me at the ULI forum was the enthusiasm for and support of energy efficiency and disclosure laws by both city leaders and major real estate investment groups.