UPDATE: Appologies to Kennedy Associates, a Seattle-based company that also is a finalist. Kennedy's Responsible Property Investing program targets Leadership in Energy and Environmental Design silver certification for all development projects and Energy Star benchmarking for all existing buildings in its $9.6-billion portfolio, believing sustainable principles bring a competitive advantage.

Seattle is home to three of the 20 finalists for the first in what are planned to be annual Sustainable Cities Awards.

The awards, sponsored by The Financial Times and Urban Land Institute, "showcase global examples of sustainability that demonstrate the future of best practices, rather than celebrating past achievements," according to a news release.

"All of these finalists incorporated initiatives that have made a significant contribution in highlighting the concept of sustainability in real estate," the release said. "Sustainability may include economic and social as well as environmental; all projects have demonstrated financial viability, a capacity to inspire and an ability to be replicated."

The award winners will be announced June 16 in conjunction with a Sustainable Cities conference in London.

The Seattle finalists are:

Cascade Land Conservancy, of Seattle, which worked with 3,500 elected officials, scientists, business leaders, loggers, farmers, timber companies, students and others in the Puget Sound region on a 100-year plan to preserve more than 1.3 million acres of forest and farmland using market-based tools such as transferring development rights from protected land to other places.

The city of Seattle, for a green building program that uses financial incentives, technical assistance and educational programs to spur green development in commercial buildings, affordable-housing projects and single-family homes.

Vulcan, which is taking part in a pilot green neighborhood development program of the U.S. Green Building Council for the 60 acre it owns in South Lake Union.

For a full list of finalists, see go here.