Fannie Mae’s green bond program to spur efficiency upgrades may be falling far short of its goals, according to analysis by Grist.
A Grist report says that about 1,600 of the 3,800 properties that had loans packaged into “green” mortgage-backed securities saw improvement in their energy scores within a median period of about two years. But more than 800 properties that the online publication examined saw lower or identical energy scores in the most recent data year compared to their scores at loan issuance.
“Whether or not Fannie Mae’s green bonds program is driving significant decarbonization and efficiency improvements is very much an open question,” Grist says. “The value of the program is unclear even in cases where energy savings did improve: About a fifth of the buildings enrolled from 2016 through 2019 performed worse than the median U.S. building even after fulfilling program requirements.”
Another criticism: Participation is highest in states and cities that already have stringent building energy efficiency codes. That means some of these building owners may have pursued green improvements without Fannie Mae’s incentives.
Related Stories
Codes and Standards | Jun 11, 2018
First RFP requiring modular construction on New York City housing project issued
Part of Housing 2.0 modular construction initiative.
Codes and Standards | Jun 6, 2018
Buffalo, N.Y., contractor exec pleads guilty to fraud for bid rigging on $750 million contract
LPCiminelli stops functioning as GC in fallout from the case.
Codes and Standards | Jun 6, 2018
LEED should be updated to combat climate change
Hasn’t kept pace with urgency of problem, says clean energy investor.
Codes and Standards | Jun 5, 2018
Sports stadiums and arenas showcase sustainability features
Green venues save owners money, gain positive publicity.
Codes and Standards | Jun 4, 2018
L.A. must transition to cleaner energy, boost transit to reach sustainability goals
City aims to reduce GHGs 60% by 2035 and 80% by 2050.
Codes and Standards | Jun 4, 2018
Washington D.C.’s flattened skyline can be a virtue
Zoning ordinance that ties building heights to width of streets dictates form.
Codes and Standards | May 30, 2018
Silicon Valley cities considering taxes aimed at large employers
The aim is to offset the impact on housing costs and homelessness by tech companies.
Codes and Standards | May 30, 2018
OSHA proposes new crane operator safety rule
Would provide long-term clarity on certification requirements.
Codes and Standards | May 29, 2018
Government support helping to drive demand for green building materials
Market projects to grow 12.5% annually between 2013 and 2019.
Codes and Standards | May 24, 2018
‘Amazon tax’ could slow Seattle’s construction boom
City imposes employer head count tax to fund affordable housing.