President Obama will join former President Bill Clinton today to announce a $4 billion effort to improve the energy efficiency of government and private-sector buildings.

The initiative is the latest installment in Obama’s “We Can’t Wait” executive action campaign intended to cultivate his image as a president taking action on the economy.

“Upgrading the energy efficiency of America’s buildings is one of the fastest, easiest, and cheapest ways to save money, cut down on harmful pollution, and create good jobs right now.  But we can’t wait for Congress to act.  So today, I’m directing all federal agencies to make at least $2 billion worth of energy efficiency upgrades over the next 2 years –at no up-front cost to the taxpayer,” Obama said in a written statement.

This morning Obama and Clinton will tour a building just blocks from the White House to promote improved energy efficiency. The president will then deliver remarks and sign a presidential memorandum for the $2 billion federal commitment.

In addition, the private sector is making a $2 billion commitment to upgrade energy performance by a minimum of 20 percent by 2020 in 1.6 billion square feet of office, industrial and municipal property.

Later today, the president will speak at the White House Tribal Nations Conference at the U.S. Department of the Interior.