Climate Change / Global Warming & Investing Implications

[sarals]

As Chairman of the Senate's Environment and Public Works Committee, I'm working to reduce air pollution, global warming, and energy usage. As part of this effort, I was pleased to introduce the "Public Buildings Cost Reduction Act of 2007."
The goal of this bill is to improve our air quality, reduce global warming pollution, and save taxpayer money all at the same time by accelerating the use of cutting-edge technologies and practices that can dramatically cut energy use in public buildings.

Everyone can take part in reducing our use of energy and the amount of carbon dioxide we emit. However, I believe that the federal government should lead by example. My bill will help to ensure less polluting and more cost-effective government buildings operated by the General Services Administration, or GSA. The GSA owns or leases more than 8,000 buildings used by the federal government, making it the nation's largest public real estate organization. Under my bill, GSA must establish a program to speed the use of energy-efficient technologies and practices and must install highly-efficient lighting in its buildings.

My bill also creates a $20 million per year EPA grant program for 5 years to help local governments make their buildings more cost-effective and energy efficient. The grant program will require a 40 percent match from the local government and will require grantees to show they will cut energy bills by 40 percent through adoption of highly efficient technologies and practices. EPA will have to verify the efficiency and savings for the program.

This bill just makes common sense, and it saves the government money. Another benefit is that it will spur the production on more efficient products, benefitting all consumers. We passed this bill unanimously in my Committee, with the support of Republicans and the Bush Administration. It is through steps such as this that we can make a significant difference in reducing the amount of energy we consume and, consequently, slowing global warming.

Sincerely,

Barbara Boxer
United States Senator

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