OAKLAND, Calif., June 1, 2016 /PRNewswire/ -- Renew Financial is pleased to announce a new partnership with Rainforest Trust dedicated to protecting threatened rainforest in the Democratic Republic of Congo by creating the immense 1.2-million-acre Balanga Forest Reserve. Renew Financial will kick off the partnership with an upfront donation to preserve approximately 4,000 acres of land and will contribute an additional one acre for every Renew Financial-financed home improvement project on an ongoing basis. By choosing Renew Financial for energy efficiency, renewable energy and water conservation projects, homeowners will automatically support Balanga Forest Reserve and all homeowners will receive a certificate recognizing their participation.
"Climate change is the defining problem of our generation, and we want to do our part to be good corporate citizens," said Cisco DeVries, Chief Executive Officer of Renew Financial. "We're excited to partner with Rainforest Trust to help conservation efforts in the Balanga Forest Reserve. Renew Financial is dedicated to providing homeowners with home improvement solutions that help preserve natural resources, and partnering with Rainforest Trust allows us to extend those efforts more broadly."
To date, Renew Financial has financed projects that have reduced more than 1.65 million metric tons of greenhouse gas emissions while reducing homeowner energy bills by $900 million. Aligning with Renew Financial's mission to develop innovative financing designed to transform America's economy to clean energy, the partnership with Rainforest Trust will further Renew Financial's commitment to the fight against climate change in the U.S. and globally. Each acre of rainforest saved at Balanga Forest Reserve will prevent the emission of about 227 metric tons of CO2 - which is equivalent to removing over 47 passenger vehicles off of US roads for an entire year. The entire reserve stores over a quarter of the annual CO2 emissions from cars in the U.S.
Renew Financial's partnership with Rainforest Trust has been applied to all projects financed so far this year. The Balanga Forest Reserve in the Congo basin, which encompasses 1.2 million acres of rainforest in the heart of Africa, holds some of the highest levels of biodiversity on Earth. In addition to storing carbon emissions and combating climate change, efforts to preserve this land will ensure crucial habitat is protected for unique and endangered wildlife including Okapis, Bonobos, and a diverse assemblage of birds, all of which find sanctuary in Balanga's intact old growth rainforests, one of the most pristine wilderness areas in the Congo basin.
"Celebrating 27 years of conservation achievements, Rainforest Trust has permanently protected more than 12.5 million acres of rainforests and tropical habitat all over the world,"said Dr. Paul Salaman, CEO of Rainforest Trust. "With Renew Financial's partnership, we will continue expanding our efforts in the Congo, saving crucial rainforest habitat for spectacular and imperiled wildlife while ensuring the future of a healthier planet for future generations. Funds from Renew Financial will directly support the creation of Balanga Forest Reserve, an area that would not survive without environmentally responsible companies like Renew Financial."
About Renew Financial
Renew Financial is one of the nation's leading clean energy financing companies. Founded in 2008 by Cisco DeVries, who created the concept of the Property Assessed Clean Energy (PACE) financing model, Renew Financial now provides multiple financing products across the U.S. PACE — which was endorsed by President Obama and named by Scientific American as one of the top 20 ideas that can change the world — enables property owners to finance the entire cost of energy and water efficiency and renewable energy upgrades to their homes and businesses, and then repay those costs on their property tax bill. Renew Financial's other financing products include residential unsecured loans (ReHome), utility on-bill financing, and others.
About Rainforest Trust
Rainforest Trust is a US-based nonprofit conservation organization focused on saving threatened rainforest and tropical habitat for endangered species in partnership with local conservation leaders and communities. Since its founding in 1988, Rainforest Trust has saved over 11.5 million acres of tropical forest habitat throughout Africa, Asia, and Latin America in over 100 project sites across 20 countries.
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SOURCE Renew Financial