LONDON, February 28 /PRNewswire/ --
- Building Retrofit Programme Will Be the First under the Global Carbon Reduction Initiative
Honeywell today announced that it has been selected by the Greater London Authority (GLA) for a building retrofit programme that will increase energy efficiency in city facilities and cut carbon emissions. London is the first C40 city in the world to launch a comprehensive programme under the Clinton Climate Initiative (CCI), which the city and Honeywell joined in May to combat global warming.
"The businesses and building owners collaborating on energy-saving building retrofits are saving money, making money, creating new jobs, and fighting climate change, all at once. I am very pleased that my foundation has been able to accelerate these projects that reduce carbon emissions and increase the use and market for energy efficient technologies around the world," said President Bill Clinton. "Working together, we can save energy, reduce carbon emissions, strengthen the economy, and secure the future."
"Today marks the start of the transformation of London's buildings from the major source of carbon emissions in the city, to a beacon of modern, low-carbon efficiency," said London Mayor Ken Livingstone. "Honeywell is an acknowledged world leader in its field and I am pleased to be working with the company to deliver this exciting low carbon building programme."
As part of the GLA programme, Honeywell will conduct a detailed analysis of 22 Transport for London (TfL) buildings and identify areas for energy-efficient improvements. Honeywell will present the findings to the GLA and TfL, which will then select the proposals that meet their carbon emission reduction and payback requirements, and award performance contracts to Honeywell to implement energy conservation measures in the chosen facilities. Typical projects include HVAC, mechanical, lighting and building automation systems upgrades.
The performance contracts will allow GLA to pay for the facility improvements and upgrades through the energy savings they generate. Honeywell guarantees the savings so the work will not impact operating budgets or require additional taxpayer funding.
The programme is expected to have a significant ecological impact. Honeywell anticipates that the potential carbon emission savings from work at the TfL facilities alone would be equivalent to taking more than 450 cars off the road.
"Leveraging energy-efficient technologies has an obvious environmental benefit, but it can have positive financial drivers as well," said Joe Puishys, president of Honeywell Building Solutions. "Working with the Mayor of London and the Greater London Authority Group, we will identify the green technology that will address the city's climate commitments and provide the greatest return on investment. We're excited to be part of this landmark programme."
Honeywell is a global leader in energy services, working with organisations to conserve energy, optimise building operations and leverage renewable energy. It joined CCI at the outset of the initiative to help the world's largest cities reduce energy consumption and greenhouse gas emissions, work that has extended to colleges, universities, schools and other organizations.
In addition to the C40 selection, Honeywell and Lewis & Clark College in Portland, Ore. - an American College and Universities Presidents Climate Commitment (ACUPCC) signatory - recently announced plans to install solar panels that will provide renewable energy for the campus. ACUPCC signed on as a member of the Clinton initiative in November.
Since the 1980s, Honeywell has completed more than 5,000 energy-efficiency projects in facilities across the globe. It also has helped 5 million homeowners decrease their energy use through its work with utilities. These projects are expected to deliver more than US$5 billion in energy and operational savings.
Honeywell International is a US$36 billion diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; automotive products; turbochargers; and specialty materials. Based in Morris Township, N.J., Honeywell's shares are traded on the New York, London and Chicago Stock Exchanges. For additional information, please visit www.honeywell.com. Honeywell Building Solutions is part of the Honeywell Automation and Control Solutions business group, a global leader in providing product and service solutions that improve efficiency and profitability, support regulatory compliance, and maintain safe, comfortable environments in homes, buildings and industry. For more information about Building Solutions, access www.honeywell.com/buildingsolutions.
This release contains "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of fact, that address activities, events or developments that we or our management intend, expect, project, believe or anticipate will or may occur in the future are forward-looking statements. Forward-looking statements are based on management's assumptions and assessments in light of past experience and trends, current conditions, expected future developments and other relevant factors. They are not guarantees of future performance, and actual results, developments and business decisions may differ from those envisaged by our forward-looking statements. Our forward-looking statements are also subject to risks and uncertainties, which can affect our performance in both the near- and long-term. We identify the principal risks and uncertainties that affect our performance in our Form 10-K and other filings with the Securities and Exchange Commission.
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