GE Real Estate has formed a partnership with the Clinton Climate Initiative in a bid to increase the green credentials of its real estate investment business.
GE announced the tie-up this morning. It is the latest partnership formed by CCI, launched in August 2006, which works with major cities and members of the business community to improve the environmental performance of assets.
Ron Pressman, president and chief executive officer of GE Real Estate, said: ‘We recognise that the building sector is one of the largest contributors to Green house gas emissions, with commercial buildings producing between 30-40% of these emissions annually. We believe GE Real Estate is in a position to reduce these numbers.’
CCI president Bill Clinton said: ‘The tools we need to dramatically reduce our carbon emissions which exist today. When it comes to climate change, the hurdles we face aren’t technological, they’re organizational, which is why my foundation is partnering with cities, businesses, nonprofits and schools alike to design systems and programs that reduce energy consumption.’
GE’s global real estate business has an annual transaction volume of more than $30bn (£14.2bn) across 28 countries.