SOURCE: Blumberg Capital Partners

September 18, 2007 12:18 ET

Philip Blumberg and Blumberg Capital Partners Announce Their Support of the Climate Change Program With the Center for International Environmental Law

CORAL GABLES, FL--(Marketwire - September 18, 2007) - Philip Blumberg, founder and Chairman of Blumberg Capital Partners, today announced that, as part of his companies' support for environmentally friendly real estate operations, Blumberg Capital Partners has become an institutional supporter of the Center for International Environmental Law's Climate Change Program.

"It's increasingly clear that the impact of environmental issues is being felt beyond the social sphere and is starting to impact businesses. CIEL has an enviable record of working to use legislative and institutional change to advance the environmental agenda in a way that promotes all three pillars of sustainable development -- economic, social, and environmental. We're pleased to be an institutional supporter and part of the effort to align commercial real estate to environmental needs," said Philip Blumberg.

"I am very pleased to announce this contribution from Blumberg Capital Partners," said CIEL's President, Daniel Magraw. "The real estate industry has significant environmental impacts and can be an important leader in business' response to the threats from climate change. I look forward to a constructive relationship with Blumberg Capital Partners."

Blumberg Capital Partners is committed to providing the most efficient buildings possible, to help contribute to preserving the environment for future generations. According to estimates by the US government, energy costs are a building's single largest operating expense -- up to one-third of the costs. Reducing these costs, along with the environmental pollution that goes with them, makes commercial as well as environmental sense. "Our aim, in conjunction with CIEL, is for our building management team to develop a set of energy management guidelines that will set an industry standard," said Mr. Blumberg. "Imagine if every commercial building in the USA could save twenty five percent of its energy costs."

Blumberg Capital Partners recently launched several initiatives aimed at increasing awareness of environmental impact and cost containment within the real estate industry. The Company is an accredited Energy Star partner and was recently awarded an Energy Star rating at its 3 Riverway, Houston, TX property. And the company is developing a Commercial Real Estate Best Practice -- a set of operating principles intended to set the industry standard for efficient building management by encouraging building owners to lower operating expenses and increase asset value.

For further information, please visit the Philip Blumberg Blog and the official CIEL announcement about the Philip Blumberg Partnership.