We have officially announced the 2025 Green Lease Leaders! In recognition of these leaders, let’s take a look at their achievements and trends we see today.
Beyond Offices
Offices make up about 17% of leased commercial space. Green Lease Leaders began as an office focused initiative, but has grown to be inclusive of additional property types. Green and performance-based leases provide a strong value proposition for any real estate property holder, including data centers and multifamily housing.
“[Green Lease Leaders] inspires opportunities for continuous [improvements] and will hopefully act as a catalyst for more high-performance leasing in the real estate portfolio.”
Harvard University Housing and Real Estate, first time Green Lease Leader
Harvard’s residential portfolio provides homes for thousands of people. As a Platinum Green Lease Leader, Harvard utilized Green Lease Leaders as a benchmarking tool to measure their residential leasing efforts against industry best practices.
Continued International Growth
Every company wants to pay less for energy, and many international firms have ambitious carbon emissions reduction goals. Over 65% of the world’s 2,000 largest companies have either a Net Zero operational target (Scope 1 and 2) or full Net Zero goal (Scope 1, 2, and 3). With these policies at play and company 2030 sustainability goals looming, landlord-tenant collaboration is still critical for meeting policy compliance and decarbonization goals.
Since the inception of Green Lease Leaders in 2014, over 230 organizations have earned Green Lease Leaders recognition. This year’s Green Lease Leaders include 49 organizations representing countries like China, Costa Rica, and Trinidad and Tobago in addition to the U.S., showing the wide applicability of green and performance-based leases for various geographic contexts.
“We recognise the need for tenants and landlords to work more collaboratively when it comes to incorporating green clauses into leases. Landlords are starting to recognise how important green clauses are to tenants. [Becoming a Green Lease Leader] will help us … ensure not just landlords but our business leaders understand how real estate plays a key role in our overall goal to reduce our carbon emissions as a business now and in the future.”
Securitas, first time Green Lease Leader, based in the United Kingdom
Enhancing Green Lease Language
22% of 2025 Green Lease Leaders earned Platinum recognition, our highest level of achievement. Platinum recognition demonstrates adoption of enhanced green leasing practices to incorporate building performance targets and social goals. Half of our 2025 Green Lease Leaders are also new to the program. This is part of a sustained trend of new organizations taking up green leasing and seeking recognition for their efforts. Each year, the Green Lease Leaders cohort is at least 30% new organizations, with most years reaching 50% new leaders.
Platinum Team Green Lease Leaders, RioCan, Crowe Soberman, and Lennard Commercial Realty came together to execute a green lease for 2300 Yonge in Toronto. This transaction is a prime example of landlord-tenant collaboration to determine and formalize shared commitments.
“In 2023, Crowe undertook a major real estate initiative: relocating its head office to the iconic 2300 Yonge Street in Midtown Toronto, directly above Eglinton Station. This move was driven by a commitment to modernizing its work environment, prioritizing employee wellness, and aligning with broader Environmental, Social, and Governance (ESG) goals… Lennard Commercial Realty, Crowe’s exclusive real estate advisor, played a central role in this transition—leading a comprehensive search, engaging multiple stakeholders, and integrating green lease principles into the final transaction.
After exploring a range of options, Crowe selected 2300 Yonge Street, a flagship property owned and operated by RioCan REIT, one of Canada’s largest and most sustainability-forward landlords. A key factor in this selection was RioCan’s robust ESG framework and the building’s LEED Gold certification. Additionally, RioCan demonstrated a willingness to enter into a green lease agreement that would formalize and promote collaboration between tenant and landlord around sustainability targets…”
Looking Ahead
Lowering net operating costs is always a smart business decision, and this is even more true now that high-performing, energy efficient properties command such strong values in the market.
“Green Lease Leaders sets the standard for excellence in green leasing, and we use its criteria as a guide to evaluate where we can evolve and sharpen our strategy. This recognition reflects our commitment to taking responsibility for one of the most significant impact areas within our control—our retail footprint. Earning the Green Lease Leaders designation demonstrates our leadership and strengthens our ability to inspire and engage our brand community to follow our example.”
Ulta Beauty, returning Green Lease Leader
The leases signed now will lower costs, reduce compliance risks with policies like building performance standards, and make it possible to meet company decarbonization goals. For example, the average lease term is 5 to 10 years for offices. To make changes at the asset level necessary for compliance and meeting targets, landlords and tenants need shared commitments today.
We applaud Green Lease Leaders for setting an example for the industry. Green leasing is an applicable tool for many property types, lease types, and geographies. It’s no longer about staying ahead of the curve; the curve is here.
