CHICAGO--The Institute of Real Estate Management (IREM) and the City of Houston have signed a Memorandum of Understanding (MOU) outlining a new collaborative relationship to promote sustainability.

Participating properties and tenant spaces will engage in a sustainability “challenge” comprised of two parts: the Houston Green Office Challenge and the IREM Sustainable Property Challenge. The goal is to improve the resource conservation, performance and indoor environments of commercial real estate throughout the city.

“This initiative will bring a broad spectrum of stakeholders together and encourage them to display their creativity and commitment to sustainability through friendly but aggressive competition,” said Kevin Roberts, Transwestern Southwest president, to GlobeSt.com. “The result will be greater awareness of sustainability strategies and benefits, which will lead to broader implementation of sustainable practices. The entire commercial real estate industry--especially property owners and users--will derive value from this initiative.”