Dozens of Companies Join Obama’s Better Buildings Challenge

3M, Briggs and Stratton, Kohl’s, Supervalu and Walgreens are among more than three dozen companies joining President Obama’s Better Buildings Challenge.

On Friday, Obama announced nearly $4 billion in combined federal and private sector energy upgrades to buildings over the next two years in an effort to cut energy costs and create jobs in the construction sector.

The investment includes a $2 billion commitment to energy upgrades of federal buildings using long-term energy savings to pay for up-front costs at no cost to taxpayers.

In addition, 60 CEOs, mayors, university presidents, and labor leaders committed to invest nearly $2 billion of private capital into energy efficiency projects; and to upgrade energy performance by a minimum of 20% by 2020 in 1.6 billion square feet of office, industrial, municipal, hospital, university, community college and school buildings.

This announcement builds on a commitment made by 14 partners at the Clinton Global Initiative America meeting in June to make energy upgrades across 300 million square feet, and to invest $500 million in private sector financing in energy efficiency projects.

The Challenge is part of the Better Buildings Initiative launched in February by President Obama, and is spearheaded by former President Clinton and the President’s Council on Jobs and Competitiveness to support job creation by catalyzing private sector investment in commercial and industrial building energy upgrades, reducing energy costs for American businesses by nearly $40 billion.

Last year, commercial buildings consumed roughly 20 percent of all the energy used by the U.S. economy. “Upgrading the energy efficiency of America’s buildings is one of the fastest, easiest, and cheapest ways to save money, cut down on harmful pollution, and create good jobs right now,” said President Obama.

Bart King is a PR consultant and principal of Cleantech Communications.