GE Real Estate partners Clinton on green initiative

Former US president Bill Clinton has announced that Connecticut-based GE Real Estate has formed a new partnership with his Clinton Climate Initiative (CCI). The move is part of GE Real Estate's plans to 'green' its business which generates more than $30 bn (EUR 20.4 bn) in annual transaction volume across 28 countries. The partnership between CCI and GE Real Estate was announced at the Greenbuild conference in Chicago. The conference is said to be the world's largest gathering dedicated to green building.

Clinton, who was the keynote speaker, said he was pleased that GE Real Estate has made a commitment to reduce greenhouse gas emissions. 'The tools we need to dramatically reduce our carbon emissions exist today,' he said. '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. I’m grateful to them all for working to show the world that the solution to the climate crisis isn’t far off in the future - it's in the buildings we inhabit, our civic infrastructure and the way we organise our lives.'

The former president established CCI in August 2006.

GE Real Estate said in a press release that under its new green initiative 'sustainability would be embedded' into its existing investment processes, from origination to asset management to improve the environmental performance of assets, to positively impact the health of tenants, and to improve the value of the properties. Ron Pressman, president and CEO of GE Real Estate, said the sheer size of the company's activities necessitated action. 'We recognize that the building sector is one of the largest contributors to GHG emissions, with commercial buildings producing between 30-40 percent of these emissions annually,' Pressman said.