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NEW YORK CITY-Ten major companies that lease approximately 17 million square feet of space in New York City have pledged to cut their energy consumption by 30% or more over the next 10 years.

The private sector initiative was announced on Thursday by New York City Mayor Michael Bloomberg’s office as part of the administration’s “Carbon Challenge,” an initiative launched through the city’s sustainability program, PlaNYC, to encourage businesses, universities and other private organizations to cut greenhouse gas emissions, improve air quality and reduce the impact of climate change.

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