Recognizing that buildings account for 40% of U.S. energy consumption, EDF asked CGGC to analyze the U.S. real estate industry and find key firms that are well-positioned to innovative business practices to reduce building energy use. Among the report's key findings: (1) In the finance segment, there is greater leverage on the equity than the debt side. In other words, when it comes to working with building owners and developers, investors have greater influence than lenders. (2) The greatest energy-savings potential lies in companies that own and operate real estate, and firms that either invest in them or manage property for them. The report was prepared by Duke CGGC for the Environmental Defense Fund (EDF).