UK building and project consultancy Paragon has launched a green investment service to help funds set and attain specific environmental targets.
The two-stage service comprises a ‘green book’ guide which enables funds to set standards and monitor new acquisitions against them. It also assists in the drafting of ‘green clauses’ in tenant leases to embed sustainability into a building’s ongoing management.
'More must be done across the industry to embed environmental and sustainable processes throughout the whole property lifecycle,' said Paragon’s director of environmental and sustainability services, Charlie Knox. 'Paragon is very proud to be leading the way in this collaborative approach to ESG between funds, developers, tenants and sustainability specialists.'
Paragon is working in partnership on the scheme with specialist sustainability consultancy Envision.
The firm said it had already advised existing clients regarding green leases and is now launching the product to the wider market.
'There is a particularly strong focus from funds on sustainable investments, both during development and throughout a building’s use. Companies which are open-minded to aligning investment decisions with ESG policies and driving better environmental standards and fund monitoring will benefit from the service,' Knox added.
Founded in 2009, Paragon has offices in London, Esher, Manchester, Edinburgh and Bristol.