UK retailer Marks & Spencer is set to unveil a green lease policy, which will help it improve the environmental credentials of its leased stores.

The agreement, reached with members of the Better Building Partnership, will see green clauses retro-fitted to the leases of existing M&S stores.

The clauses will facilitate the sharing of waste information and data such as gas, electricity and water usage in M&S occupied buildings to encourage both landlord and tenant to make significant carbon reductions.

They also encourage a joint approach to investment in eco building technology such as biomass boilers, LED lighting and rainwater harvesting to further reduce building impacts and costs.

"Unfortunately, big carbon reductions from the UK's building stock cannot come only from new stores," said Clem Constantine, M&S director of property.

"70% of current commercial buildings will still exist in 2050, so if we are genuinely going to tackle the problem we have to invest in eco solutions for existing buildings. 
 
"Currently it can be difficult for landlords and tenants to work together when it comes to a building's environmental performance, particularly for older leases. There's often no real structure for measurement, incentives or sharing of goals.

"Green leasing changes this situation as it provides the framework within which both can work together. And both will benefit, a store with a reduced environmental impact and lower costs is more marketable for landlords and more cost effective for tenants to occupy - a genuine win, win."
 
The agreement will see the retailer sign 70 retro-fit agreement across its store estate.