Clinton Global Initiative Commits to Greener Commercial Buildings

A three-year project that promises to reduce energy use, create jobs, and provide significant savings for the commercial real estate sector by boosting the market for energy-efficient commercial tenant space has been announced at this year’s Clinton Global Initiative event.

Tenants who are signing or renewing leases for new or existing property would commit to incorporate energy efficiency measures into the design of their premises, NRDC says.

They would also measure and document the economic benefits generating by the participation in this project and by this set an example for other tenants throughout the U.S.

Among the commercial tenants who have already committed to participating, we can name Bloomberg LP, LinkedIn and Jones Lang LaSalle.

“By making commercial buildings more energy efficient we can not only reduce harmful air pollution, we can save property owners and tenants serious cash,” explained Yerina Mugica, Associate Director for NRDC’s Center for Market Innovation.

It is believed that buildings are responsible for 40 percent of carbon dioxide pollution nationwide, and 80 percent in New York City.

Moreover, a study from McKinsey & Company states that cost-effective efficiency improvements could save the building sector up to $33 billion per year by 2030.

“Just as the Empire State Building/CCI project has proven to be a useful blueprint which others have followed, the Center for Market Innovation project will create a model which can be replicated around the world,” stated Tony Malkin, President of Malkin Holdings.

The project will see a collaborative effort from major organizations. For example, Jones Lang LaSalle will identify potential participants and propose cost-effective efficiency measures for them.

Johnson Controls will advise on potential efficiency improvements and will help develop and implement the measures to track actual energy savings.

On the other hand, Goldman Sachs will identify financing options. Finally, NRDC’s Center for Market Innovation will ensure that accurate measurements and documentations are provided.