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Administrator Whitman to Commend the Real Estate Investment Industry for its Commitment to the Environment

Release Date: 12/12/2002
Contact Information:

(12/12/02) Environmental Protection Agency Administrator Christie Whitman tomorrow will recognize two ENERGY STAR partners for leadership and commitment to the environmentally responsible management of their real estate investment portfolios. These two investment organizations are Lend Lease and Teachers Insurance and Annuity Association College Retirement Equities Fund (TIAA-CREF ). The Administrator will also issue a broader challenge to the real estate investment industry to follow their examples by adopting energy-efficient practices that demonstrate commitment to both the environment and strong financial performance of investments. Industry leaders will also be present to respond to this challenge.

WHO: EPA Administrator, Christie Whitman

Roger Platt, Senior VP and Counsel, Real Estate Roundtable
David Ross, CEO of Global Real Estate, Lend Lease
Mark Wood/Thomas Garbutt, Managing Director, TIAA-CREF

WHAT: Challenge real estate investment partners to commit to energy-efficient practices, encourage ENERGY STAR partners to expand these practices across their portfolios, and commend industry members that have demonstrated environmental leadership.

WHEN: Friday, Dec.13, 2002
12:30 p.m. to 1:15 p.m.

WHERE: Lend Lease Headquarters
Monarch Tower
3424 Peachtree Rd.
Atlanta, Ga.


BACKGROUND: The ENERGY STAR program is a partnership between business, government, and others united by a common goal: to help protect our environment for future generations by changing to more energy-efficient practices today. ENERGY STAR currently partners with the owners, investors, and managers of over eight billion square feet of office, industrial, retail, and hospitality property. Last year alone, Americans - with the help of ENERGY STAR - saved six billion dollars on their energy bills and reduced greenhouse gas emissions equivalent to taking 12 million cars off the road. Businesses are using ENERGY STAR tools and resources to improve efficiency, enhance profits, and create competitive advantages recognized by shareholders and customers alike. Investment property managers are using ENERGY STAR to maximize operating profits by targeting energy and cost performance improvements that increase net operating income and asset value.