« Previous Article  |  Back to Main Page  |  Next Article »
New Global Initiative for City-Based Climate Efficiency Trading

The Urban Green Council this week announced a global partnership for climate efficiency trading, along with the Canada Green Building Council and other green building councils representing major cities such as Hong Kong, London, and Singapore.

The initiative is designed to advance energy improvements in buildings, which contribute as much as 70 percent of a city’s climate emissions. The partnerships with global councils and cities ensures the project addresses multiple climates, building types and sustainability goals.

“This is the first time five global cities will evaluate climate efficiency trading, which is an untapped policy tool for large-scale carbon reductions,” said John Mandyck, CEO of Urban Green. “It will create a new market to drive low-cost climate solutions and help channel sustainability resources to low-income neighborhoods around the world.”

Climate efficiency trading can reduce carbon emissions with either a mandatory or voluntary cap. Buildings that lower emissions below the cap are able to trade those energy efficiency or carbon savings with buildings that are unable to meet the requirements. Policy design can provide additional credits to focus investments in lower income neighborhoods, creating a new source of capital to fund energy improvements.

“Carbon pricing is a critical component of Canada’s burgeoning low-carbon economy,” said Thomas Mueller, CEO of Canada Green Building Council. “As part of the global green building community, we are supporting Urban Green’s initiative to encourage and accelerate carbon reductions in buildings around the world. Carbon trading is an important element in a suite of policies and strategies to help transition the building sector to a low carbon future.”

This global effort was spurred by Urban Green Council’s Blueprint for Efficiency, which laid the groundwork for leading-edge legislation just enacted in New York City that mandates building carbon caps and the consideration of trading. Creating a building energy efficiency trading market will be critical to meeting this mandate and advancing social justice.

As a first step, Urban Green Council will bring together a range of experts to develop parameters to help inform New York City’s program. Key questions will be answered to help inform the required study and implementation plan by the New York City Mayor’s Office of Sustainability. These considerations will then be evaluated and refined by the Hong Kong, London, Singapore and Canada teams, creating a global discussion for increasing building energy efficiency in cities around the world.

An advisory board will help guide the convening, including Costa Constantinides, Chair of the New York City Council Environmental Protection Committee, David Miller, former Mayor of Toronto and Director of International Diplomacy for the C40 Climate Leadership Group, Dr. Joseph Allen from Harvard University’s T.H. Chan School of Public Health, green building council leaders from other countries, and more. Findings will be coordinated with C40.

« Previous Article  |  Back to Main Page  |  Next Article »
Also in this issue:
Green Building Programs
LEED Spotlight: Prairie Architects Inc. Winnipeg Office Achieves Commercial Interiors LEED v4 Platinum Certification
Ask the Expert: Learn from Green Building Pioneer, Roland Charneux
New ECCC Government Report Supports Deep Retrofits, Disclosure and Standardization
LEED Certified Projects - April 2019
Conference and Events
CaGBC Honours Canada's Green Building Leaders at BLC 2019
Member News and Updates
WorldGBC's Net Zero Carbon Buildings Commitment Surpasses 50 Signatories
New Global Initiative for City-Based Climate Efficiency Trading
National Media Partners' News: ConstructConnect
New Members - April 2019
There's Still Time to Apply to the Greenest School in Canada Contest
Join Us for the Making the Case for Building To Zero Carbon Webinar
Featured On-Demand Course: Engaging Tenants in Sustainability
LEED Strategic Practices (LSP) Program Course 4: Energy and Atmosphere Credits
Meet Our First-Class LEED Strategic Practices Program Instructors
CaGBC On-Demand Summer Sale: Up to 25% Off Courses Until July 31
Course Calendar - June 2019
Canada Green Building Council
400-100 Murray
Ottawa, Ontario K1N 0A1
To manage your subscription preferences or unsubscribe please click here.