Over the one-and-a-half years, JP Morgan's partner, NRDC, has made significant progress informing policy and industry leaders in China about the enormous potential for meeting the country's energy needs through energy efficiency strategies, by creating standards and incentives for energy efficiency measures that hold promise for dramatically reducing pollution in China and throughout the world. NRDC proposed a series of energy efficiency policies to help the nation meet its ambitious goal of reducing energy consumption by 50 percent in 10 years, from utility-based measures to municipal building models.
At the grassroots level, NRDC has been working in China to build a reputation as a reliable ally and partner for local organizations and the federal government. Also, in partnership with Jiangsu Economic and Trade Commission, JP Morgan has begun developing demand-side management financial incentive programs to promote cleaner power plants, and it is now working to establish new green building standards.
- JP Morgan and NRDC helped Shanghai develop its Green Building Promotion Council, the first such voluntary green building council in China, and NRDC worked with the Ministry of Construction to organize an international Intelligent and Green Building conference in 2005, a conference that kicked off a national level Green Building Promotion Council under the Ministry of Construction.
- Most recently, NRDC co-sponsored an international forum on energy efficiency and demand-side management (DSM) - the '2007 International Forum on DSM in China' - with the central government in Beijing in July 2007.
- NRDC and the Residential Energy Services Network (RESNET) helped to develop a local standard for rating existing building energy performance, the Shanghai standard, which went into effect in June and creates an energy labeling system for existing buildings that will be the basis for a building energy retrofitting program in Shanghai.