Implementation Strategies for Campus Green Revolving Funds (Webinar)

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This webinar provides a roadmap to implementing and managing a successful green revolving fund (GRF) to finance energy efficiency and sustainability projects. The webinar offers an overview of Green Revolving Funds: An Introductory Guide to Implementation and Management, with examples from Agnes Scott College and the University of New Hampshire. AASHE was pleased to host this webinar with the Sustainable Endowments Institute (SEI).

Presenters:
Judy Walton, Chief Publications Officer, AASHE
Joe Indvik, Consultant, ICF International
Susan Kidd, Director of Sustainability, Agnes Scott College
Matt O'Keefe, Campus Energy Manager, University of New Hampshire

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  • Jesse Ball duPont Fund support got us started on numbers 1 & 2 Internal communication = President, VP – Business & Finance, Facilities & Sustainability
  • Implementation Strategies for Campus Green Revolving Funds (Webinar)

    1. 1. 1AASHE Webinar - April 23, 2013Judy WaltonAASHEJoe IndvikICF InternationalSusan KiddAgnes Scott CollegeMatt O’KeefeU. of New HampshireImplementation Strategiesfor campus green revolving funds
    2. 2. Judy WaltonChief Publications OfficerAASHESpeakersJoe IndvikConsultantICF InternationalSusan KiddDirector of SustainabilityAgnes Scott CollegeMatt O’KeefeCampus Energy ManagerUniversity of New Hampshire2
    3. 3. Anatomy of a GRF10 Steps to a Successful GRFBuilding your GRF StrategyCase Studies from GRF LeadersIntroductionA roadmap to get your greenrevolving fund up and runningAgnes Scott CollegeUniversity of New HampshireWhat is a GRF?3
    4. 4. What is aGreen Revolving? Fund?4
    5. 5. What is a GRF?5
    6. 6. Background676 institutions$111M committed
    7. 7. Solution: A guide that establishes best practicesFacility ManagersEnergy ManagersPresidentsStudentsTrusteesCFOsSustainability DirectorsInterviewsResearchand DataGreening theBottom Line 2012School Case StudiesExperienceGRF ChartersBillion DollarGreen ChallengeConsultingConferencesPartnerOrganizationsSecond NatureAASHEACUPCCICFBackground7
    8. 8. AnatomyOf a GRF8
    9. 9. Anatomy of a GRFGRF9
    10. 10. Anatomy of a GRFFoundationSeed Capital10
    11. 11. Anatomy of a GRFFoundationSeed CapitalOperationsProject SelectionProject Criteria11
    12. 12. Anatomy of a GRFFoundationSeed CapitalOperationsProject SelectionProject CriteriaInner WorkingsAccounting SystemPayback MechanicsMeasuring Savings12
    13. 13. Anatomy of a GRFFoundationSeed CapitalOperationsProject SelectionProject CriteriaInner WorkingsAccounting SystemPayback MechanicsMeasuring SavingsLeadershipFund OversightLong-Term Strategy13
    14. 14. 10 StepsTo a successful GRF14
    15. 15. 10 Steps to a Successful GRF1 Do your homework2 Select your model3 Run the numbers4 Build buy-in5 Secure seed capital6 Establish financial flows7 Launch the fund8 Implement projects9 Assess performanceOptimize and improve10“Don’t reinvent the wheel. Talk to otheruniversities who have made this work andassimilate those programs into a customprogram that will work at your school.”- John Onderdonk, Caltech’s Director ofSustainability Programswww.greenbillion.org/resources15
    16. 16. 10 Steps to a Successful GRF1 Do your homework2 Select your model3 Run the numbers4 Build buy-in5 Secure seed capital6 Establish financial flows7 Launch the fund8 Implement projects9 Assess performanceOptimize and improve10GRFs are like snowflakes…16
    17. 17. 1 Do your homework2 Select your model3 Run the numbers4 Build buy-in5 Secure seed capital6 Establish financial flows7 Launch the fund8 Implement projects9 Assess performanceOptimize and improve1010 Steps to a Successful GRFEnergy auditsOpportunity listPortfolio analysis17
    18. 18. 1 Do your homework2 Select your model3 Run the numbers4 Build buy-in5 Secure seed capital6 Establish financial flows7 Launch the fund8 Implement projects9 Assess performanceOptimize and improve1010 Steps to a Successful GRF18
    19. 19. 1 Do your homework2 Select your model3 Run the numbers4 Build buy-in5 Secure seed capital6 Establish financial flows7 Launch the fund8 Implement projects9 Assess performanceOptimize and improve1010 Steps to a Successful GRF19
    20. 20. 1 Do your homework2 Select your model3 Run the numbers4 Build buy-in5 Secure seed capital6 Establish financial flows7 Launch the fund8 Implement projects9 Assess performanceOptimize and improve1010 Steps to a Successful GRFMake-or-break questions:? Who pays the project invoiceand with which account??Which account will makerepayments? How often andhow much??How do these transactions andobligations appear ondepartmental balance sheets?20
    21. 21. 1 Do your homework2 Select your model3 Run the numbers4 Build buy-in5 Secure seed capital6 Establish financial flows7 Launch the fund8 Implement projects9 Assess performanceOptimize and improve1010 Steps to a Successful GRF21
    22. 22. 1 Do your homework2 Select your model3 Run the numbers4 Build buy-in5 Secure seed capital6 Establish financial flows7 Launch the fund8 Implement projects9 Assess performanceOptimize and improve1010 Steps to a Successful GRF22
    23. 23. 1 Do your homework2 Select your model3 Run the numbers4 Build buy-in5 Secure seed capital6 Establish financial flows7 Launch the fund8 Implement projects9 Assess performanceOptimize and improve1010 Steps to a Successful GRFwww.greenbillion.org/gritsGreen Revolving Investment Tracking System (GRITS)23
    24. 24. 1 Do your homework2 Select your model3 Run the numbers4 Build buy-in56 Establish financial flows7 Launch the fund8 Implement projects9 Assess performanceOptimize and improve1010 Steps to a Successful GRFSecure seed capital24
    25. 25. Agnes Scott CollegeAgnes Scott CollegeBuilding Buy-in and Securing Seed Capitalfor a Green Revolving FundSusan KiddSustainability DirectorAgnes Scott College4/23/201325
    26. 26. Located in Decatur, GAFounded in 1889Population• 900 students• 300 faculty/staffFootprint• 29 buildings – 900,000 sq ft.• 100 acre campus• 2,000 treesAbout Agnes ScottAbout Agnes Scott26
    27. 27. College Mission:We educate women to thinkdeeply, live honorably, andengage the intellectual andsocial challenges of their time.Strategic Plan for 2014:Engaging a Wider WorldSustainability central toGoal #4: “Living Honorably”Sustainability as a Strategic PrioritySustainability as a Strategic Priority27
    28. 28. • Financing mechanism that bestfits our energy efficiency goals• Elegant vehicle for structuringand highlighting institutionalcommitment to efficiency(carbon emissions reduction &utility budget savings)• Powerful interdisciplinarylearning tool – math, economics,business, physics, meteorology• Positive donor responseWhy we started ourGreen Revolving Fund (GRF)Why we started ourGreen Revolving Fund (GRF)28
    29. 29. • Analysis of energyefficiency retrofittingneeds (ranked prioritieslist)• Establishment of an energyconservation program• Focus on best practices forutility data monitoring• Support from donor• Coverage in collegepublications• Research & assistance fromother colleges & BillionBuild Buy-in: Step 1Build Buy-in: Step 1
    30. 30. LOTS of internaldiscussion to buildbuy-in- President- Vice President, Business& Finance- Sustainability Directorand student internsBuild Buy-in: Step 2Build Buy-in: Step 230
    31. 31. Project selection -GRF Committee:- Business & Finance- Facilities, ITS, Sustainability- Faculty- StudentsCriteria:– Simple payback period– Operational urgency– Annual carbon reduction– ADDED - visibility, educationalvalue, other positive spin-offs, etc.Build Buy-in: Step 3Build Buy-in: Step 331
    32. 32. • College commitment: $1 million by 2015• $395,000 committed to date by individual donors,including alumnae• $60,000 in requests pending• Other sources likely to be:- Foundations- Building renovation funds (specifically in proposals)- Deferred maintenance funds- Energy efficiency/utility savingsSecure Seed CapitalSecure Seed Capital32
    33. 33. 33The Energy Efficiency Fund at UNH:Matt O’Keefe, UNH Energy ManagerUniversity of New HampshireApril 23, 2013Capturing Cash Flows andTracking Savings33
    34. 34.  RCM Campus» Utility costs fed into larger “overhead” costs» Rates set far in advance of operating year» NO incentive to conserveEEF Framework34
    35. 35.  Systems Benefit Model Revolving Fund 100% reinvestment WildCAP guiding document Energy Task Force managedEnergy Efficiency Fund Concept35
    36. 36.  $650k ARRA award $400K one time internalcapital infusion $60K Renewable Grant $350K EfficiencyIncentive Payment $4 saved for every$1 investedForecasted Cash Flows36
    37. 37.  Sub-metering of projects/buildings Tracking Software (FEDS, GRITS) EE Evaluation Reporting» IPMVP, NEEP, CEE, Utility Reports Leveraging Fund $ for outside investmentSavings Tracking37
    38. 38. www.greenbillion.org/resourcesBigger and better Comprehensive Guide coming this spring!• Full fund design case studies• M&V guidance• Fund analytics• Fund documentation support• More interviews, more content,more examplesNext Steps38
    39. 39. www.greenbillion.org/join-the-challengeJoin the Billion Dollar Green ChallengeNext Steps39
    40. 40. An Additional ResourceCampus Green Revolving Funds DatabaseIn AASHE’s Resource Center - www.aashe.org/resourcesClick on “Investment & Financing” under “Planning, Administration& Engagement Resources”Next Steps40
    41. 41. Upcoming AASHE EventsWebinar - “Integrating Sustainability into the Curriculum“Tuesday, May 28, 2 EDTWorkshop – “Developing a Campus Sustainability Living Lab”June 7-9, Portland State U (Oregon)Next Steps41More info: www.aashe.org/events
    42. 42. Questions?Questions?Judy Walton, AASHE859-898-0463judy@aashe.orgJoe Indvik, ICF International202-862-1252joe.indvik@icfi.comSusan Kidd, Agnes Scott College404-471-6080sakidd@agnesscott.eduMatt O’Keefe, U. of New Hampshire603-862-1276matt.okeefe@unh.eduSubmit questions in the“Questions” pane of thetoolbar on the right sideof your screen.42
    43. 43. 43ThankYou!

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