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Article

17 May 2007

Author:
Michelle Nichols & Timothy Gardner, Reuters

Clinton, Cities, Unveil US$5 Bln Buildings Energy Plan

Five global banks will raise US$5 billion in loans to make existing buildings up to 50 percent more energy efficient with New York, London, Tokyo, Sao Paulo and Johannesburg among the first 15 cities to take part. Under the plan, unveiled on Wednesday by former US President Bill Clinton, city governments and building owners will repay the loans plus interest with savings made from reduced energy costs created by the energy-efficient retrofit....Clinton said...that businesses, banks and cities would "save money, make money, create jobs and have a tremendous collective impact on climate change." Citigroup, UBS, Deutsche Bank, ABN AMRO and JPMorgan Chase have agreed to arrange US$1 billion each for the Clinton Climate Initiative's Energy Efficiency Building Retrofit Program…[also refers to Honeywell, Johnson Controls, Siemens, Trane (part of American Standard)]