Clinton Climate Initiative Offers $5B to Green Cities’ Buildings

former U.S. president Bill Clinton trumped them all with the announcement of his $5 billion program to renovate municipal buildings at cities worldwide… The C40 Large Buildings Retrofit Program will help reduce energy use and curb greenhouse gas emissions around the globe… The partnership brings together city leaders—15 cities will make up the first phase of the project—with banking institutions and companies that specialize in creating energy efficient solutions for buildings… The five financial institutions involved—ABN AMRO, Citi, Deutsche Bank, JPMorgan Chase, and UBS—have each committed to offer $1 billion in funding up front, which will be used to provide green technologies to cities at no net cost. The city governments have agreed, for their part, to pay back the loans with interest from the energy savings realized by increasing energy efficiency. In addition, the cities will streamline their paperwork and bureaucratic processes to implement the projects as soon as possible.—Clinton Climate Initiative Offers $5B to Green Cities’ Buildings