Federal Reserve Bank of Boston to participate in the Mayor's Carbon Cup

BOSTON - Monday, November 9, 2015 - Mayor Martin J. Walsh announced today that the Federal Reserve Bank of Boston joined the Greenovate Boston Mayor's Carbon Cup - a commitment to reduce their greenhouse gas emissions intensity by 35 percent by 2020. Mayor Walsh recognized their commitment this afternoon at the fifth anniversary meeting of the Green Ribbon Commission.

"In addition to being a partner on community development and equity, the Federal Reserve Bank of Boston is a partner in helping to reach our city's climate goals," said Mayor Walsh. "By going above and beyond our targets for 2020, Carbon Cup participants and winners are showing exemplary leadership in creating a sustainable future for Boston."  

The Mayor's Carbon Cup was launched in April 2014 and recognizes the commitments of large organizations including hospitals, universities, and commercial building portfolios. There are seven participants to date, which have collectively committed approximately 20.4 million square feet to a 35 percent greenhouse gas emission reduction. The Federal Reserve Bank of Boston will contribute 1.2 million square feet to that target.  

"Energy efficiency in Boston's large buildings is critical to reaching our climate and sustainability goals," said Austin Blackmon, Chief of Environment, Energy and Open Space. "The buildings and institutions that have committed to the Carbon Cup are showing how we can achieve deep reductions in our carbon emissions while cutting our energy use and costs."

"The GRC applauds the Federal Reserve Bank of Boston for committing to the Mayor's Carbon Cup Challenge, which calls for reducing carbon emissions from buildings at an even faster pace than called for in the Boston Climate Action Plan," said John Cleveland, Executive Director of the GRC. "Public Sector buildings make up nearly a quarter of non-residential buildings in Boston. Thanks to institutional leaders like the Federal Reserve Bank of Boston, and the innovative policies, programs, and community engagement around climate preparedness by the Mayor's office, Boston is a global model for building strong cross-sector partnerships aimed at slowing the causes of climate changes."  

In order for the City of Boston to reach its citywide goal of reducing greenhouse gas emissions (GHG) 25 percent by 2020, large building portfolios will need to lead by aiming for a higher GHG reduction target. Those pledging to the Carbon Cup commitment must enroll at least 1 million square feet and commit to a 35 percent reduction in GHG intensity. Pledges may choose 2005, or any year thereafter, as a baseline from which to track reductions.  

The Building Energy Reporting and Disclosure Ordinance (BERDO) establishes the reporting framework for easy participation in the Mayor's Carbon Cup. Through BERDO, the City will track year-over-year progress towards each portfolio's goal.  

Other Carbon Cup participants and winners are: Partners HealthCare-Brigham and Women's Hospital, Boston University, Harvard University (within Boston city limits), Partners HealthCare-Massachusetts General Hospital, Boston Medical Center, and Boston Properties.  

The City of Boston welcomes new participants in the Cup. For more information, visit http://www.greenovateboston.org/carbon_cup.  

About The Green Ribbon Commission

The Boston Green Ribbon Commission, formed in 2011 and now co-chaired by Mayor Walsh, is a group of business, institutional and civic leaders in Boston working to develop shared strategies for fighting climate change in coordination with the City's Climate Action Plan. Visit http://www.greenribboncommission.org for details.  

About Greenovate Boston

Greenovate Boston is a community-driven movement to get all Bostonians involved in reducing the city's greenhouse gas emissions 25 percent by 2020 and 80 percent by 2050, as outlined in the City's Climate Action Plan. By laying out the necessary steps to reduce the causes of and to prepare for climate change, the Climate Action Plan gives Greenovate Boston a Framework for building a greener, healthier and more prosperous city. Visit http://greenovateboston.org for details.