Banks, Energy Efficiency Companies Join Clinton’s $5 Billion Green Cities Program
Global banking institutions – Citigroup, Deutsche Bank AG, JPMorgan Chase & Co., UBS AG, and ABN Amro – have committed $1 billion each to finance the upgrades of municipal buildings in participating cities, which include New York, Chicago, Houston, Toronto, Mexico City, London, Berlin and Tokyo.
Cities will pay back loans, plus interest, through the energy savings that the projects achieve over several years.
Honeywell International, Johnson Controls, Siemens AG and American Standard Cos. will conduct energy audits of the buildings, complete the makeovers and guarantee the energy savings.
The other cities are Rome; Karachi, Pakistan; Seoul, South Korea; Bangkok, Thailand; Melbourne, Australia; Sao Paulo, Brazil; and Johannesburg, South Africa.
The foundation expects the partnership to expand to more cities and companies after the first round.
Energy Manager News
- Clauses to Consider in Green Leases
- Bahama Yacht Club to Generate Power from Solid Waste
- Duke Energy, USF Launch Solar Battery Research Initiative
- Energy Storage Helps Hotel Reduce Demand Charges by 10%
- EU Smart Campus Pilot Achieves 30% Energy Savings
- Uline to Operate 130 GenDrive Fuel Cell Units from Plug Power
- Los Angeles Shopping Center Installs 504 kW Solar
- SustainCo Wins $575,000 Contract for Energy Management Controls