New Release: Guide to GRF Implementation and Management
Contact: Rob Foley, Sustainable Endowments Institute
Newly expanded guide includes technical advice to manage energy efficiency investments.
Report provides step-by-step information on planning, creating, and managing a green revolving fund.
CAMBRIDGE, MA (August 6, 2013) — A newly expanded publication answers the call for guidance from colleges across North America in setting up and managing green revolving funds (GRFs) on their campuses. Green Revolving Funds: A Guide to Implementation & Management includes both broad and technical guidance in order to share the expertise of energy professionals and college administrators from dozens of institutions. The guide provides practical advice for designing, implementing, and managing a green revolving fund at a college, university, or other nonprofit institution.
A green revolving fund is an internal investment vehicle that provides financing to parties within an organization for implementing energy efficiency, renewable energy, and other sustainability projects that generate cost-savings. These savings are used to replenish the fund for the next round of green investments. The guide is a co-publication of the Sustainable Endowments Institute (SEI) and the Association for the Advancement of Sustainability in Higher Education (AASHE) and was developed with the consulting firm ICF International.
The guide is part of a suite of resources associated with SEI’s Billion Dollar Green Challenge (www.GreenBillion.org), which catalyzes the creation of green revolving funds. It responds to the need for assistance in developing and managing these funds which have a quickly growing presence in higher education, with a 60 percent increase in the number of GRFs in operation between 2010 and 2012. In total, colleges have committed more than $111 million in capital to their own GRFs, which have financed more than 900 energy efficiency and resource-reduction projects on campuses across the country.
Building on the earlier introductory version released in January, the guide includes new chapters on measurement and verification (M&V) of project savings, as well as using metrics and analytics to evaluate the progress of the fund. It also showcases the on-the-ground experience of fund managers through case studies of institutions such as Caltech, the University of Vermont, and Arizona State University.
The guide additionally features more solutions to common obstacles facing fund managers. Many are of a financial nature, and the guide helps readers gain a comprehensive understanding of their institution’s accounting system, incentive structure, and sustainability investment portfolio in order to inform the fund’s design. The guide continues to provide broad guidance on the various components of a GRF and how to design and implement one outlined in 10 accessible steps.
The Guide to Implementation & Management comes at a time when the green revolving model is expanding to new sectors including healthcare institutions, K-12 schools, and municipalities. The model has potential to continue expanding into private companies, government, and beyond. The guide joins a host of other tools which provide support for smart implementation that takes advantage of emerging best practices, allowing GRFs to continue capturing financial and environmental benefits, engage and educate campus communities, and build the business case for sustainability.
Publication Partners: American College and University Presidents’ Climate Commitment (ACUPCC), Association for the Advancement of Sustainability in Higher Education (AASHE), Building Green Initiative, Center for Green Schools at the U.S. Green Building Council, Clean Air-Cool Planet, Clinton Climate Initiative, Focus the Nation, National Wildlife Federation Campus Ecology Program, Net Impact, New England Board of Higher Education, Responsible Endowments Coalition, Rockefeller Philanthropy Advisors, Rocky Mountain Institute, Second Nature, U.S. EPA’s Green Power Partnership, and Vermont Energy Investment Corporation.
Funded By: David Rockefeller Fund, John Merck Fund, Kresge Foundation, Merck Family Fund, Rockefeller Brothers Fund, Roy A. Hunt Foundation, and Wallace Global Fund.
Access the full report here.