Clinton's major retrofit push in London

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Former US president Bill Clinton pushed himself as a potential rival to former colleague Al Gore as a global figure in fighting climate change tonight. He launched a global Energy Efficient Building Retrofit Program to tackle the existing stock in 15 world cities, including London and New York. He's teamed up with five  banks and four energy service companies. Facilities management firms including Johnson Controls and Siemens will conduct energy audit on the buildings to assess the amount of work required. The US Green Building Council will also play a part, developing a programme to train local workforces to install the new technologies.
 

Clinton said: “Climate change is a global problem that requires local action. The businesses, banks and cities partnering with my foundation are addressing the issue of global warming because it’s the right thing to do, but also because it’s good for their bottom line.  They’re going to save money, make money, create jobs and have a tremendous collective impact on climate change all at once."

Comments

[Casey Cole]

There's a write up on this in the Telegraph online today. Can't post link as comments strip HTML. From the article:

"A group of technology companies will carry out the renovation work and, if the energy savings are not achieved, will pay the difference or make further changes to the buildings."

I wonder which companies those are and how they accepted the risk?

Also, will someone claim the value of the carbon offset? With the forward price for a tonne of CO2 in the second round of the ETS going for something like £18, I’d be surprised if they weren’t. Perhaps the banks.