Recognizing the Benefits of Energy Efficiency in Multifamily Underwriting via Deutsche Bank

Interesting concept with some ideas that merit a closer look.

Deutsche Bank Americas Foundation instigated this project to encourage the financial industry to scale up financing of building energy efficiency retrofits. Deutsche Bank has a long history of supporting multifamily / affordable housing through its community development finance capabilities, and throughout the world the Bank has played a leadership role on climate issues. Scaling up building retrofits has become a compelling aspiration for the Bank, because of the alignment between our carbon reduction and community development goals.

Building scientists, auditors, enlightened building owners, and contractors have been retrofitting multifamily buildings in New York City for many decades, but the retrofit industry has largely relied on public subsidies, a limited resource that has constrained the industry’s ability to scale. Private capital, if it could be deployed for retrofits, could prove transformational in achieving significant carbon reductions while upgrading multifamily buildings and stimulating much-needed job creation.

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