Figures from the UK's commercial property sector are to draw up a Code for Sustainable Buildings.

Working with the UK Green Building Council (UK-GBC), a task group met for the first time this month to start discussions on how the commercial property industry can deliver high quality, high value, sustainable buildings.

"The benchmark should stand the test of time and be used with confidence by all stakeholders from product manufacturers to property investors," Paul King, UK-GBC chief executive and task group chair explained.

He added that the fact senior figures from the commercial property sector were willing to get involved demonstrates the importance they attach to sustainable buildings.

Members of the task group include representatives from commercial property developers and investors and the Royal Institute of British Architects.

The Communities and Local Government department will sit as observers.

Research released by the Pensions Management Institute and Prupim this month shows that the majority of pension fund managers have no intentions of reducing their commercial property allocations.