WASHINGTON, DC-The Obama Administration committed approximately$4 billion in funding from federal and private organizations tocreate more sustainable, energy efficient spaces in commercial realestate as an expansion of the Better Buildings Initiative unveiledback in February. It is also anticipated that these projects willcreate around 50,000 green jobs, according to June 2011 analysisfrom the Real Estate Roundtable, US Green BuildingsCouncil and Natural Resources DefenseCouncil.

Of the $4 billion, $2 billion will be invested in energyupgrades of federal buildings. This stepped up focus on energyefficiency in commercial buildings includes the pledge by some 60CEOs, mayors, university presidents, and labor leaders to investnearly $2 billion of private capital into such projects.Specifically, they will upgrade energy performance by a minimum of20% by 2020 in 1.6 billion square feet of office, industrial,municipal, hospital, university, community college and schoolbuildings.

An official White House statement reveals companies that pledgedto be part of the Better Business Initiative—includingCBRE, Jones Lang LaSalle and HEI Hotelsand Resorts—will be working towards making commercial andindustrial locations up to 20% more energy efficient by 2020. JLLhas committed to meeting this goal at its properties that total 98million square feet across the US HEI Hotels and Resorts istargeting its 10 million square feet for a 20% reduction in energyuse, and CBRE, at its 25 million square feet of buildingsnationwide.

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