Shanghai will get some help in its efforts to make its factories more energy efficient, according to an announcement by the World Resources Institute (WRI). WRI said it will launch a new initiative that could help the city reduce its carbon emissions by 60,000 tons a year. The initiative would also assist China in its efforts to reduce its energy intensity under its newly announced five-year plan. According to WRI, the initiative aims to aggregate 30 to 40 energy efficiency projects into one portfolio to reduce capital costs for companies and the transaction costs of energy services companies (ESCO) that can help install and sometimes finance energy efficient equipment. The energy efficiency projects are across 23 state-owned, foreign-owned and private Chinese companies that represent over $2 billion in annual revenue.