Connie Mae
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Connie Mae, also known as Carbon Neutral Mortgage Association (CNMA) is a hypothetical financial agency proposed by environmental activist Al Gore.[1]
Gore proposed the idea of Connie Mae in a 2006 New York University speech on global warming. In the speech, Gore explains how financial instruments must be devised to encourage home builders and owners to make the relatively large up front investments that would be necessary to join the electranet and/or become carbon neutral. One such instrument is what Gore called a "Conne-Mae" mortgage.
Here in the US the extra cost of efficiency improvements such as thicker insulation and more efficient window coatings have traditionally been shunned by builders and homebuyers alike because they add to the initial purchase price-even though these investments typically pay for themselves by reducing heating and cooling costs and then produce additional savings each month for the lifetime of the building. It should be possible to remove the purchase price barrier for such improvements through the use of innovative mortgage finance instruments that eliminate any additional increase in the purchase price by capturing the future income from the expected savings. We should create a Carbon Neutral Mortgage Association to market these new financial instruments and stimulate their use in the private sector by utilities, banks and homebuilders. This new “Connie Mae” (CNMA) could be a valuable instrument for reducing the pollution from new buildings.
The proposed agency drew the support of 2008 United States presidential election candidate Senator Hillary Clinton.[2]
[edit] Related topics
[edit] References
- ^ Powell, Michael. "Gore Unveils Global-Warming Plan". Washington Post.
- ^ Clinton, Hillary. Clinton Speech on the Economy. PBS. Retrieved on 2008-04-25.
[edit] External links
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