Better Buildings Challenge Announces $4 Billion in New Commitments

Better Buildings Challenge Announces $4 Billion in New Commitments

The Clinton Global Initiative has announced new commitments totaling $4 billion in support of the Better Buildings Challenge, which aims to boost the energy efficiency of existing buildings in the United States.

Launched in June at a Clinton Global Initiative America meeting devoted to economic recovery and job creation, the Better Buildings Challenge originated as an agreement between the Obama administration and fourteen partner organizations to retrofit some 300 million square feet and invest $500 million in energy efficient projects. The challenge is part of the Better Buildings Initiative, a collaborative effort involving the administration's Council on Jobs and Competitiveness, the William J. Clinton Foundation, the Clinton Global Initiative, and the Clinton Climate Initiative.

The latest round of commitments includes $2 billion for energy upgrades of federal buildings that will use long-term energy savings to pay for upfront costs. In addition, sixty CEOs, mayors, university presidents, and labor leaders, including eleven CGI members, committed nearly $2 billion of private capital for energy efficiency projects and to improve energy performance by at least 20 percent in 1.5 billion square feet of office, industrial, municipal, hospital, university, and school buildings by 2020. Organizations stepping up with new commitments include the AFL-CIO, Alcoa, General Electric, RREEF Real Estate, Serious Energy, Shorenstein Properties, TIAA-CREF, and Wyndham Worldwide.

"Investments in building retrofits and energy efficiency can make a real difference in the American economy by creating jobs, growing our industries, improving businesses' bottom lines, reducing our energy bills and consumption, and preserving our planet for future generations," said former president Bill Clinton. "I am proud the Clinton Foundation has been able to help develop and grow President Obama's Better Buildings Challenge, and that so many members of the Clinton Global Initiative have joined this challenge. Working together, I am pleased the commitments to the BBC have grown from the initial $500 million and three hundred million square feet that we announced in June at CGI America, to the $2 billion investment with over one billion square feet of retrofitted space that we are announcing today."

For a complete list of new commitments, visit the Better Buildings Challenge Web site.