Authors: Phaedra Ellis-Lamkins Cross-posted from the Huffington Post and Grist: Today, Green For All and Living Cities unveiled the Energy Efficiency Opportunity Fund alongside President Clinton, at the closing session of Clinton Global Initiative's Annual Meeting. The groundbreaking fund will finance innovative efforts that create jobs and cut energy costs for low-income families through energy-efficiency building retrofits. I am proud to say that in addition to advocating for public policies that invest in the clean energy economy, Green For All is now mobilizing private capital to directly create jobs and fight global warming. By investing in new models for financing retrofits, the Fund will help catalyze and leverage additional funding from federal, state and local governments, financial institutions and foundations. The Fund creates a unique platform for "triple bottom line" returns, including:
- Profit for investors: A financial return of 2 - 3 percent annually;
- Cuts in global warming pollution: An environmental return in the form of reduced energy consumption and avoided greenhouse gas emissions; and
- Jobs and opportunity for Americans: A social return that saves money and creates jobs for low-income people.
- 37,000 tons of carbon dioxide emissions avoided - the equivalent of more than 4,700 cars taken off the road;
- 25% energy savings on average in 15,000 homes, with total household savings of $6 million;
- 25% energy savings on average in 2,000 commercial/community buildings;
- 2,500 clean energy jobs, with substantial opportunity for low-income people; and
- Improved health, increased household income and/or greater worker productivity experienced by 40,000 people.