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Honeywell Joins Clinton Climate Initiative
Global Effort Will Help Cities Address Climate Change by Improving Energy Efficiency
NEW YORK, May 16, 2007 – Honeywell (NYSE: HON) today announced that it has joined the Clinton Climate Initiative in a global effort to help cities around the world improve the energy efficiency of buildings and decrease greenhouse gas emissions.
Honeywell, a global energy services leader, joined former President Bill Clinton and mayors of the world’s largest cities in New York City to announce the initiative. Buildings are a major global consumer of energy and Honeywell will work with the participating cities to identify and implement conservation opportunities in their facilities.
“Climate change is a global problem that requires local action,” said President Clinton. “The businesses, banks and cities partnering with my foundation are addressing the issue of global warming because it’s the right thing to do, but also because it’s good for their bottom line. They’re going to save money, make money, create jobs and have a tremendous collective impact on climate change all at once. I’m proud of them for showing leadership on the critical issue of climate change and I thank them for their commitment to this new initiative.”
“Honeywell is proud to put our energy management experience to work as part of this global effort,” said Joe Puishys, President of Honeywell Building Solutions. “Working together, we can help cities cut their energy costs, create more efficient facilities and reduce their environmental impact.”
Overall, nearly 50% of Honeywell’s product portfolio company-wide is linked to energy efficiency, including turbocharged diesel vehicles, smart controls for buildings and houses and other technologies. In the buildings sector, Honeywell helps customers around the world address energy and environmental concerns in three ways:
- Retrofit Programs: The quickest route to a lean utility bill and fewer greenhouse gas emissions is to use less energy. Honeywell finds the right mix of building retrofits and upgrades to help customers trim their consumption. The improvements are typically funded through energy performance contracts, which guarantee savings. As a result, these programs don’t impact budgets or require additional taxpayer dollars.
- Renewable Energy: Honeywell helps customers produce their own energy, primarily through green technologies like solar and biomass, thereby decreasing their dependence on traditional energy sources and reducing their carbon footprint.
- Utility Programs: Honeywell teams with utilities to mitigate the risk of power disruptions such as brownouts — and to minimize the need for additional power plants — through a variety of conservation programs in commercial and residential facilities.
“Honeywell has helped more than 100 cities around the world reduce their energy costs and cut emissions,” Puishys said. “Since the early 1990s, our guaranteed performance contracts have saved customers more than $3 billion in energy and operating costs.”
Honeywell estimates the global economy could operate on 10-25% less energy just by using today’s existing Honeywell technologies that include products such as:
- Honeywell-turbocharged diesel vehicles that consume 20-40% less than their gasoline counterparts;
- UOP/ENI Ecofining™, Honeywell’s technology for the conversion of vegetable oils to green diesel fuel, which reduces fossil carbon emissions by 75%;
- Wireless sensors that could reduce energy consumption across the industrial sector by up to 10%;
- Enovate-based spray foam insulation, which when used in new homes, has documented energy savings (heating and cooling) of 40% versus comparable homes insulated with fiberglass; and
- Programmable thermostats that when used properly can reduce heating and cooling demand by up to 33%.
International is a $33 billion diversified technology and manufacturing leader,
serving customers worldwide with aerospace products and services; control
technologies for buildings, homes and industry; automotive products;
turbochargers; and specialty materials. Based in Morris Township, N.J.,
Honeywell's shares are traded on the New York, London and Chicago Stock
Exchanges. It is one of the 30 stocks that make up the Dow Jones Industrial
Average and is also a component of the Standard & Poor's 500 Index. For
additional information, please visit www.honeywell.com. Honeywell Building
Solutions is part of the Honeywell Automation and Control Solutions business
group, a global leader in providing product and service solutions that improve
efficiency and profitability, support regulatory compliance, and maintain safe,
comfortable environments in homes, buildings and industry. For more information
about Building Solutions, access www.honeywell.com/buildingsolutions.
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