Bellevue, Wash.-based organizers say they have formed a national nonprofit organization called the Association of Green Property Owners and Managers (AGPOM) to respond to growing demand for green building practices that result in financial savings.

They said in a press release that they established AGPOM to promote environmental sustainability awareness, while also providing financial incentives for property owners and managers to get started with or become more heavily involved in green practices.

"AGPOM will challenge and hopefully change business practices for managing properties around the country," says Doug Waddell, president of Waddell Properties Inc., an apartment-property owner and AGPOM member based in Kirkland, Wash.

"By committing to the AGPOM Green Building Plan, our firm was able to increase our insurance coverage while reducing our premiums and business risk. In addition, we expect to realize energy savings through our commitment to the AGPOM Green Building Plan," he says.

Art Smith, an AGPOM board member who has earned the accredited professional designation in the Leadership in Energy and Environmental Design (LEED) national standards program, says, "Some property owners clearly are seeing a return on investment by bringing their buildings up to certified green standards. We recognize that 'green' certification can be a laborious process. AGPOM will offer a straightforward way to get going without requiring large investments in technology or manpower."

He adds, "The association believes building owners will continue to strive for LEED and Energy Star certification once they get started with the AGPOM Green Building Plan. Providing knowledge and an achievable entry plan coupled with the financial incentives to our members is the key to growing the green movement."

AGPOM says its benefits for property owners and managers include a cost-effective Green Building Plan with recognition plaques and seals, insurance products that provide discounts for going green, and a strategy based on obtaining renewable energy credits.