The problem is that most occupiers, even those who have already made commitments to reduce CO₂ emissions, have yet to decide how to meet their published targets and have not identified which properties are worthy of improvements. This means that any attempt by property owners to be proactive will be highly speculative and it would be possible to incur significant costs, a large proportion of which may prove to be abortive.

Our method of analysis, however, allows investors to identify which tenants are most likely to be receptive to an approach and to persuade them to collaborate in joint initiatives with all costs kept to an absolute minimum until such time as the prospect of putting together a satisfactory transaction has been established. SIAM will: 

• Identify those tenants who are most likely to be interested in achieving meaningful CO₂ reductions
• Undertake a desk-top analysis of available improvements and the likely cost
• Produce an indicative estimate of return on costs by way of operating cost savings
• Carry out an option appraisal from tenant’s perspective of improving existing buildings as opposed to relocating to better-rated stock
• Present outline business case to selected tenants
• Negotiate terms for tenants’ improvements, the amount of landlords’ contributions and appropriate consideration such as higher rents or longer leases