Awards and Certifications
Global Real Estate Sustainability Benchmark
Sustainability policies and performance are becoming increasingly important to investors who want to see an intentional overall strategy. To demonstrate our commitment, Jamestown’s Premier Property Fund participates in GRESB, the Global Real Estate Sustainability Benchmark, which assesses the sustainability performance of real estate portfolios around the globe. The Premier Property Fund achieved an overall score of 79 (peer average of 73, global average of 60) in the 2016 GRESB results covering 2014-2015. Jamestown ranked #4 in its competitive peer group of U.S. Diversified Office/Retail, improving upon its 2015 score by 9 points. Jamestown was recognized as a Green Star in 2014, 2015, and 2016, which is the best possible GRESB quadrant designation.
For the 2016 survey, GRESB launched a module for Health and Well-being for the Real Estate Industry. The new module evaluates and benchmarks actions to promote the health and well-being of employees as well as strategies to create value through products and services that promote health and well-being for tenants and customers. Jamestown completed the supplement, which was optional for the first year, in order to assess the current health and well-being practices of the fund. Completing the module provided valuable feedback that will guide future refinements to our health and well-being strategy and we will continue to make strategic improvements to maintain and improve our status as a top performer.
Green Lease Leader
Green Lease Leaders is a new recognition program developed by the Institute for Market Transformation (IMT) and the U.S. Department of Energy’s (DOE) Better Buildings Alliance with support from leading real estate practitioners, distinguished property owners, tenants, and brokers who are effectively using the lease as a tool to save energy in commercial buildings. The selected winners met the requirements of the Green Lease Leaders program by incorporating lease clauses that allow for sharing of the costs of energy-saving improvements, ensure tenants build out to green standards, increase transparency by sharing access to energy consumption data and ENERGY STAR scores between tenants and landlords, and encourage cooperation on environmental initiatives. Historically, real estate owners and tenants have had difficulty integrating sustainability into the lease process due to tension between owners and tenants over responsibilities and cost-sharing arrangements. The Green Lease Leaders program is helping to break through these barriers by proving that a wide variety of companies are already incorporating green lease language into their portfolio, and by demonstrating replicable solutions that can be employed by others.
The IMT has released a case study about Jamestown’s Green Leasing efforts. Please click here to read the case study.
The Leadership in Energy and Environmental Design (LEED) rating system is an internationally accepted standard for the design, construction, and operational performance of green buildings. It was established by the USGBC to address a range of development types, including New Construction and Major Renovation, Commercial Interiors, Existing Building, and Neighborhood Development. Each rating system uses a scorecard to calculate four different certification levels (Certified, Silver, Gold, and Platinum) in addition to including prerequisites in five strategic areas of environmental performance: sustainable site development, water savings, energy efficiency, materials selection, and indoor environmental quality. The impact of these categories is accounted for through a system of weighted points, with more points allocated to critical areas such as water and energy.
Energy Star is a third-party rating system sponsored by the U.S. Department of Energy and the U.S. Environmental Protection Agency. The voluntary EPA-managed program rates the relative energy performance of new and existing buildings on a 1-100 point scale. Energy Star considers energy use (based on 12-months of utility bills), CO2 emissions, occupancy and type of use, and the location of the building to determine a score. In order to receive the ENERGY STAR label, a building must score a minimum of 75 points, which would certify that the project is more energy efficient than 75% similar structures in a particular year. A score of at least 69 points must be reached in order to achieve LEED Certification.