The AP reports that sixteen cities around the world will get financing to "go green" by renovating buildings they own with technology designed to cut carbon emissions, former President Bill Clinton announced Wednesday.
Clinton's foundation has created an arrangement among four energy service companies and five global banking institutions that will result in major environmental upgrades in the cities, which include New York, Chicago, Houston, Toronto, Mexico City, London, Berlin, Tokyo and Rome.
"If all buildings were as efficient as they could be, we'd be saving an enormous amount of energy and significantly reducing carbon emissions. Also, we'd be saving a ton of money," Clinton said.
The planned projects include replacing heating, cooling and lighting systems with energy-efficient networks; making roofs white or reflective to deflect more of the sun's heat; sealing windows and installing new models that let more light in and keep the elements out; and setting up sensors to control more efficient use of lights and air conditioning.
The former president said Citi, Deutsche Bank, JP Morgan Chase, UBS and ABN Amro have each committed $1 billion to finance the upgrades.
Clinton announced the partnership Wednesday, joined by mayors of several of the cities, as part of an international climate summit he is hosting this week in New York City with Mayor Michael Bloomberg. It is the second meeting of the C40 Large Cities Climate Summit, which was created so mayors and local governments could share strategies for reversing the trends of climate change.
"It really is groundbreaking; it really is going to make a difference," Bloomberg said.
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