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 | Jan 18, 2022
Greater emphasis on building materials needed to achieve net-zero carbon offices
Engineered wood, straw, and bamboo can be keys to achieving goal.
Codes and Standards | Jan 17, 2022
AISC seeks comments on draft earthquake standard for steel buildings
Includes new limits for cross-sectional slenderness of steel columns based on latest research.
Codes and Standards | Jan 12, 2022
California’s wildfire building code significantly reduces structural loss
As other states consider upgrading their codes, Golden State provides useful model.
Codes and Standards | Jan 12, 2022
Regulator holding back climate-friendly, energy-saving equipment deployment, critics say
Heat pumps, solar power could be made more accessible for low-income communities in Massachusetts.
Codes and Standards | Jan 11, 2022
Cost hikes drive nearly one million renters out of homeownership qualification in 2021
Household income needed to pay a mortgage rose to $62,872 from $55,186.
Codes and Standards | Jan 10, 2022
New ratings services focus on climate risk for homeowners
Efficacy of models used in risk assessment varies.
Codes and Standards | Jan 6, 2022
Virginia contractors having a tough time finding diverse subs to meet state goals
Survey of primes may indicate similar issues at federal level.
Codes and Standards | Jan 5, 2022
Boston drops parking requirements for affordable housing
Measure expected to spur new projects.
Codes and Standards | Jan 4, 2022
Dept. of Energy Better Climate Challenge aims for 50% GHG emission reduction by 2030
Program offers technical assistance and peer-to-peer knowledge sharing.
Codes and Standards | Jan 4, 2022
Architects at New York firm take steps to unionize
Support for unionization reported at two other New York firms.
