San Francisco 'green financing' programme to create business opportunities
The city of San Francisco in the US has come up with a green initiative that is set to give energy-saving business opportunities a boost by enabling businesses to finance for conservation measures.
Mayor Gavin Newsom has announced a new "green financing" programme, whose main remit will be to provide funds for energy-efficiency, renewable energy and water conservation projects in residential and commercial buildings.
The mayor explained that "cutting energy and water use in our homes and office buildings will bring long-term results in our fight against climate change and drought".
"Our 'green financing' programme will help home and property owners overcome the large up-front costs of major environmental improvements to their buildings."
Businesses and individuals will access the funds through an "accessible, low-cost loan" developed by the city, the Controller's Office of Public Finance and the Department of Environment.
Investing in energy-saving products is going to be easier as a result of the initiative, which was first put in place by Berkeley, California, according to earth2tech.com.
