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
| Jan 8, 2014
United Association, NRDC seek major plumbing code changes
Proposed changes include mandating the insulation of hot water piping in new buildings.
| Jan 2, 2014
EPA move to assert oversight on small bodies of water among top regulatory battles for 2014
The EPA has started the process of declaring that it has the power to regulate streams, brooks, and small ponds.
| Jan 2, 2014
Paseo Verde in Philadelphia is nation’s first LEED Platinum neighborhood development
Paseo Verde, a mixed-use, mixed-income community hosted a ribbon cutting ceremony last month.
| Jan 2, 2014
Green infrastructure prominent in Akron, Ohio's sewer plans
City officials in Akron, Ohio want to prevent stormwater from entering its combined sewer system through the use of green infrastructure.
| Jan 2, 2014
OSHA to hold public meeting on proposed rule to improve tracking of workplace injuries
The Occupational Safety and Health Administration (OSHA) has scheduled a public meeting to allow interested parties to comment on the proposed rule to improve tracking of workplace injuries and illnesses.
| Jan 2, 2014
Measuring whole building energy use among big changes in LEED v4
A new prerequisite in LEED v4 calls for each project to measure whole building energy use, and then share that data with USGBC.
| Jan 1, 2014
San Francisco hosts Net Positive Energy + Water Conference
The Living Building Challenge’s Net Positive Energy + Water Conference will be held Feb. 4-5 in San Francisco.
| Dec 27, 2013
California’s new Title 24 energy code compliance date pushed back to July 1, 2014
Due to the stringency of the provisions in California’s new Title 24 energy codes, their implementation has been postponed until July 1, 2014 to allow jurisdictions and engineers to prepare for them.
| Dec 27, 2013
$1 billion 'city within a city' development approved by Coachella, Calif., city council
The mega development includes 7,800 homes, a retail center, office space, and nearly 350 acres of open space.
| Dec 26, 2013
OSHA may require companywide reporting of injuries and illnesses
The Occupational Safety and Health Administration is considering a change in policy that would require organizations to submit company-wide data on illnesses and injuries.