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Climate Neutral Bonds: A Local Global Warming Solution

A new report from the Institute for Local Self-Reliance (ILSR), shows how communities can act now to reduce global warming. Through an innovative concept, climate neutral bonds, local and state governments can require that any new project financed with tax-exempt bonds would generate no new global warming pollutants. If a new building is financed, for example, any greenhouse gas additions from the operation of the building would have to be offset with reductions from other sources in the community. In 2004, local and state governmental bodies financed about 9,000 individual projects with about $230 billion in municipal bonds. Tax-exempt municipal bonds are issued to finance a variety of development and public works projects, from police stations and schools to water treatment facilities and power plants. Collectively, municipal bonds finance projects that consume large amounts of energy over the life of the bond. Says John Bailey, author of the report, “The slightly higher upfront investment in energy efficient or renewable powered buildings repays itself several times over during the life of the bond.” “With no federal action on the horizon, cities and states must lead the way in reducing global warming, he says . “If a city or other public agency […]

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Goldman Sachs Wins Award for Using FSC-Certified Wood

Goldman Sachs has received the first annual “Designing & Building with FSC Award” for its new building at 30 Hudson Street in Jersey City, NJ. The annual award recognizes building projects that further responsible forest management through the use of FSC-certified wood products (Forest Stewardship Council). Project entries were judged on the inclusion of FSC-certified wood products, efforts to incorporate certified forest product market transformation, overall wood design and appropriate wood use. All wood products used in the interior of the Goldman Sachs building are certified, including millwork, wood trimming, moldings, veneers, steamed sycamore panels in the main lobby, more than 700 gym lockers, and an astounding 970 interior doors. Completed in April 2004, the building is a 40-story, 1.6 million square foot structure overlooking the Hudson River across from lower Manhattan.Roger Dower, president of FSC-US, said, “the Designing & Building with FSC Award was created to recognize companies that help to transform building markets and the forest products industry through their responsible consumption. FSC is pleased that Goldman Sachs’ commitment to sustainability includes use of FSC-certified woods, and that FSC featured prominently in the design of this project. We are thrilled that they so obviously find value in the […]

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