Cleveland Clinic announced the establishment of a $7.5 million Green Revolving Fund — the largest of its kind among U.S. health care systems, it says.
Energy efficiency projects pull money from the fund, which then is replenished by reinvesting the savings from reduced energy consumption as well as rebates.
Nationally, the $7.5 million annual commitment, announced during the Better Buildings Summit in Washington, D.C., is one of the largest in any business sector.
“The establishment of this fund strengthens Cleveland Clinic’s commitment to reducing our energy usage and serves as a catalyst for future projects to further reduce our impact on the environment,” said Jon Utech, senior director for Cleveland Clinic’s Office for a Healthy Environment, in a statement. “As a leader in health care, we are continually looking for ways to improve the health of the communities we serve and reduce our operating costs in order to make care more affordable for our patients.” Read the full article at Crain’s Cleveland Business.